Is Piggyvest Legit? [Everything You Need To Know]

Is PiggyVest legit? In this article, we’ll find out.

PiggyVest, formerly Piggybank, is an online tool that helps users save money to accomplish their goals. 

The app also enables users to invest money in various businesses and earn up to 25% in 8 months or longer. They are the most comprehensive online platform for saving and investing in Nigeria.

You should be aware, though, that not all platforms for investing and saving are reliable. So, in this article, we’ll talk about the PiggyVest review. In other words, you’ll be able to determine whether the platform is legitimate or a scam.

Let’s dive right in.

When was Piggyvest established?

On January 7, 2016, Piggyvest officially launched “Piggybank. ng” as a platform for savings-only transactions.

Then they only offered discounts to users for three years. Then, starting in April 2019, they changed their name to “PiggyVest” and started providing users with direct investment opportunities in addition to savings.

PiggyVest’s goal is to empower everyone to manage better and grow their finances.

Piggyvest licenses

Here is a list of Piggyvest license 

• They are duly registered as PiggyTech.
• They purchased a Microfinance bank as well as its license.
• The Securities and Exchange Commission has licensed and registered them (SEC).
• They are also licensed and approved by the Central Bank of Nigeria (CBN) as a mobile money operator (MMO) for digital payments and inclusion for microbusiness owners.

Is Piggyvest approved by CBN?

Yes, The Central Bank of Nigeria (CBN) has given the fintech company approval in principle (AIP) to operate as a mobile money operator (MMO) to digital payments and inclusion for microbusiness owners in Nigeria as a result of the acquisition.

Does Piggyvest have an office?

Yes, Their office is located at Tesmot House, 3 Abdulrahman Okene Close, off Ligali Ayorinde, Victoria Island, Lagos.

How secure is Piggyvest?

Saving money or making investments on PiggyVest’s website is risk-free. They are officially known as PiggyTech Global Limited, RC 140522. In early 2018, they purchased a microfinance bank and license. With registration number 16555, Piggytech Cooperative Multipurpose Society Limited is a recognised cooperative.

Adding to the evidence that Piggyvest is authentic, they work together to manage your information with Paystack, a PCIDSS-compliant payment processor in Nigeria. The website is secure with an SSL connection.

AIICO Capital, Nigeria’s top asset management company, governed and licensed by the Securities and Exchange Commission, stores and manages all funds saved through the platform.

How to get started on Piggyvest

To start your journey with PiggyVest, visit the website or download the app to register.

After downloading the app, Click “Register”, as shown below.

Then fill in your details to create your account as shown below.

Click “Create Account” after filling in your details. 

Account Verification

You should now verify your account by providing your Bank Verification Number or NIN before you start saving and investing. 

The PiggyVest platform requires that you verify your BVN before using it. Otherwise, you won’t be able to save money effectively or use the app to transfer money to and from your savings accounts.

Select a saving method.

After creating an account, there are various ways to save. PiggyBank, Safelock, and Target Saving are available. Decide which one is best for you. 

To activate your account and make your first deposit. 

Any Nigerian bank’s MasterCard, Visa, or Verve cards are acceptable. 

You may now start your daily, weekly, or monthly savings using any of the savings plans.

If you select Piggy bank, you must automatically indicate how much money you want to save and whether it should occur daily, weekly, or monthly.

Additionally, you can choose to save whenever you like manually. Set the withdrawal time and the amount you want to lock in Safelock.

 Decide how much you want to save as your target. Choose a withdrawal date and invite friends if you want them to join you.

Invest in PiggyVest

To invest money with PiggyVest, adhere to these steps.

1. Access Investify.

When you are on the dashboard for your PiggyVest account, click the rocket-shaped icon. This opens up Investify- a feature that allows users to invest their money in various businesses for returns.

2. Examine investment possibilities and make a purchase.

There are many investment opportunities available. To invest, simply click on anyone you like. Most investment opportunities require a minimum investment of N3000. Some are greater. 

Conclusion

Piggyvest is legitimate and entirely safe. You don’t have to concern yourself with the actual saving task because the system is automated. Once you’ve set up your account, it will take over.

To guarantee that your information is completely protected from fraud, PiggyVest uses the highest level of Internet Security and is secured by 256-bit SSL security encryption.

Another reason you should try out Piggyvest is that it is not only legit, but also you can be confident that PiggyVest will help you stop overspending.

They will also assist you in setting up automatic daily, weekly, or monthly savings toward a particular goal OR locking away funds for a predetermined time.

When you save money through the platform, you receive interest- 10% on Core Savings annually (Piggybank Savings), more than 13% annually on SafeLock, and 10% annually on Target Savings and Group Savings.

This brings us to the end of this article. Let me know your thoughts. Is PiggyVest legit?