Cowrywise Review: Top Savings and Investment App in Nigeria

I was an undergraduate when Cowrywise was first mentioned to me by a friend. I can remember vividly how she laid emphasis on the features of Cowrywise review; that I can save and invest electronically on the app. She even added that the app is protected by Meristem. I didn’t seem to comprehend everything she said because I was an undergraduate who lived from hand to mouth. Savings, therefore, didn’t cross my mind.

I shared that to point to you that Cowrywise is a financial technology company.

It has been operating for five years now. Yet we haven’t heard or read about users’ complaints regarding being scammed or money vanished into thin air.

 As my friend mentioned to me, the app simply eases the process of savings and investments. Basically, Cowrywise allows you to:

  • Make automated savings
  • Make Naira and Dollar mutual funds investments
  • Earn returns on your savings daily
  • Make flexible withdrawals
  • Have 24/7 support

Cowrywise Review

cowrywise review

I am aware you really want to know more about Cowrywise. Here is why I will be feeding you with all that you need to know about the app in the following order.

  • Is Cowrywise legit?
  • Why save on Cowrywise.
  • How to sign up on Cowrywise?
  • Features on the app/ Saving types on Cowrywise.
  • How to invest in mutual funds on Cowrywise.
  • What is Cowrywise stash?
  • How to make money on Cowrywise.
  • How to withdraw from Cowrywise.

Is Cowrywise legit? Is it insured? Is it safe?

Having a physical office is one of the best ways of recognizing legit businesses and platforms.

Cowrywise is not just headquartered in Lagos, it is also a registered finTech company in Nigeria. Cowrywise secures its user’s funds with Meristem Trustees through a trustee agreement.

For enlightenment same, Meristem Trustee is a company that is regulated by the Securities and Exchange Commission.

It has the role of ensuring that your funds are 100% secured and making sure that Cowrywise invests your funds in what they promised to invest in and that they give their customers their accurate interests.

Cowrywise also uses bank-grade security which prevents access to users’ data by third party.

It also uses two-factor authentication for all notable transactions.

The app also currently has over 10,000 downloads and 2,000+ reviews on Play Store with a 4.7-star rating

Why save on Cowrywise?

Here are a few reasons you need to save on Cowrywise

First, saving on the platform is done electronically and it is automated which implies that it comes with ease. You can save any amount on the app provided it is not less than #100

Second, your savings attract returns unlike you paying an individual to keep or save your money.

Third, Cowrywise helps you keep your money for a long duration.

I recently published an article on simple steps to start a discipline savings journey.

How to use Cowrywise

To begin using Cowrywise, you simply have to download it to your mobile device. It is available on Android Google play store and Apple App store, you could also visit their website. To sign up on Cowrywise, you simply need to fill in your basic details; name, email address, and phone number. Voila! Your account is created.

Features on the app/ Saving types

As mentioned earlier, you can save and invest on the app. The app also has the following features and plans:

Regular savings plan

This plan allows you to save your money on a daily, weekly, or monthly basis for a minimum period of 3 months.

Life Goals

No doubt, everyone has something that requires money to achieve. Hence, Cowrywise allows you to save for your long-term goals for a minimum period of a year.

Your life goals saving plan can be broken into smaller chunks on a daily basis, weekly or monthly basis.  

You can also select the category your life goals falls into; maybe business, education, retirement, etc.

It is important for you to note that your savings can be withdrawn or rolled over upon maturity or completion date.

Halal savings

This plan is the same as Regular savings plan except that it does not accumulate interest.

Halal savings plan was designed for Muslims who just want to save and do not want interest on their savings.

Saving Circle

This plan simply allows you to save in groups towards a common goal. That is a group of friends or family members can come together to save for a particular course.

How to invest in mutual funds on Cowrywise

You can invest in both dollar and naira mutual funds which are available on Cowrywise. To do this, simply tap “invest in mutual funds,” take the short risk assessment, and select any recommended fund. Finally, add your card details.

How to make money on Cowrywise

At the moment, there are three ways to make money on Cowrywise

  • Interest on your savings is between 5-12% per annum. Though the interest changes.
  • Returns on your investment and
  • Referral program. You earn #1, 000 on every user that uses your referral link to sign up on the app.

What is Cowrywise stash?

Stash is an e-wallet on the app. Once set up, it allows you to receive mature funds from your saving plans, receive payouts of returns from your investment, and top up your savings and investment plan, stash also allows you to transfer money to other Cowrywise users for free.

How to withdraw from Cowrywise

Cowrywise has a user-friendly environment. To withdraw your mature fund from Cowrywise, follow these steps:

  1. Login to the Cowrywise app or web app (website).
  2. Find the “Stash” option and tap on it.
  3. Click  on “Transfer money”
  4. Click on “Bank account”
  5. Enter the amount you want to withdraw, click on “Transfer”
  6. Enter your pin to confirm the transaction.

To withdraw from Stash

  1. Go to the Stash page
  2. Click on transfer and select the transfer to bank account option
  3. Type in the amount you want to withdraw taking note of the withdrawal fee.
  4. Then use your Cowrywise PIN to verify.

Voila! You will get your money in your bank account.


This Cowrywise review explains how you can save, make money, invest, and withdraw from the app.

Cowrywise has proven to be reliable over the years as I use them to date, and no issues so far.

Other recommended savings and investment app I recommend is PiggyVest.

About the Author: CyberHope

Personal Blogger who loves playing around with gadgets and making reviews on them. Also, Hope is not left out in the online money-making world. He shares tips on how to make money online.

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