Frequently Asked Questions
Learn more about Pettysave through our catalog of questions and answers
Common questions about our savings plans, the benefits of each plan and how best they can work for you.
How do you get money into your Pettysave account? Find out about using your debit card(s) and making transfers in this section.
Thinking about how secure of your funds, bank details and transactions are on Pettysave? Well, so are we! Find out here.
Pettysave enables people to attain financial freedom through our various savings and investment products as well as adequate financial education. Pettysave helps you schedule your savings conveniently either daily, weekly or monthly. You can save towards specific targets such as rent, school fees, travel, car, wedding etc. and you can also invest for amazing ROIs ( Returns on Investment).
All that will be required from you upon sign up is: your name, phone number or email address and a password.
You can view your activities on the Pettysave platform by clicking on ‘Show recent activities’ at the bottom of the dashboard. To access the full list, go on to click on ‘See all activities’ at the bottom of the page. You will be redirected to a page with records of all your activities on Pettysave.
Yes, you can.
Pettysave offers higher returns on savings and investment than the traditional banks. There are no hidden or bank charges with Pettysave transactions. Everything on Pettysave is automated and makes savings effortless.
Your financial goals or intention will guide you in choosing one of these options:
- Autosave: This feature automatically saves a fixed amount from your bank account either daily, weekly or monthly. Interest rate is 10% per annum.
- Target Save: Hit your goals directly by using the target save feature e.g. car, travel, school, etc. while making an interest of 10% per annum.
- Vault: Earn more interest by saving for a minimum of 1 to 12 months. The longer you keep it, the higher your interest rate (1 to 12%). Once your withdrawal date is set, savings cannot be withdrawn till then.
- Investment: Investment amount and interest vary by investment opportunity
- Top Up: This allows you to add more funds to your savings. This is especially good if you miss a few saving dates due to insufficient funds and need to meet up with your savings target or just have extra cash to save. To save an extra amount outside your normal plan, click on ‘Top Up’, input how much you want to save instantly and it will be debited from your account.
On autosave and target save, you earn 10% interest annually. For vault, you earn 12% per year. The percentages of returns on savings are prorated daily and paid directly into your savings plan.
Yes you can. You can save for different people with the target save feature. Go to savings, click on a new plan and then create a target save. You can then customize and name it accordingly. E.g save for Brian, save for Jessica.
No, you will not be charged any fee at all. This is a voluntary saving so you are only debited when you have the exact savings amount or more in your bank account.
Interests are prorated daily and paid directly into your savings plans for Autosave and Target Save. Interest on Vault (12% p.a) is paid upfront into your wallet at the start of the savings plan.
Yes you can. Click on 'Top Up', input how much you want to save instantly and it will be debited from your account.
Yes, all savings plans on Pettysave can have their savings amount increased using the edit button or whenever you ‘Top up’. You can also pause the Autosave plan whenever you want.
You can only pause the Autosave plan.
Yes, all cards issued by Nigerian banks are accepted such as Verve, Visa or MasterCard. Some cards may however not be cleared for online transactions, check with your financial institution to resolve the issue.
You can save and invest without a card on Pettysave. However, you will only be able to save in a vault and make investments. This is because in order to run an autosave or target save plan, you need to add your card to enable automation. Card-less transactions have to be done manually.
Yes you can. However, you can only make an inter-user transfer twice a day and the maximum you can transfer is a total of ₦500,000 per day. Learn more here.
Send an email with screenshots as proof to firstname.lastname@example.org or call customer care on 08179448367
We encrypt your data via SSL (an encryption-based Internet security protocol) and require OTPs (One-time passwords) for sensitive actions on your account. We also enforce the usage of strong passwords on your account to prevent hacking and/or identity theft. All your payment processes are handled via a secure and reliable payment processor. We protect your funds by only hosting investment opportunities that come with their own insurance covers and have been pre-vetted for maximum security. Pettysave operates with a cooperative license and also possesses a Microfinance license (Marvelous MFB) which is duly registered by the Central Bank of Nigeria (CBN). We are currently working to render more offline services to our users and penetrate the rural areas of the country.
For verifying users, we’ve put the following in place:
- When adding your bank account, the account name must match the name on your Pettysave account
- Once you put your BVN, the account name on all bank accounts added to your Pettysave profile must match with it. If you already have a bank account added to your Pettysave profile with a name that does not match with the name on your BVN, it will become invalid and be removed.
Your Bank Verification Number (BVN) is required for the following actions:
- Transferring money to another Pettysave user
- Withdrawing above ₦50,000
- Receiving money from another Pettysave user
- Withdrawing your ‘Referral Bonuses’
- Access to your ‘Referral Commissions’
Log in to your Pettysave account, click on 'savings' from the menu and select the savings plan you'd like to withdraw from. Click on 'withdraw' and specify the amount you'd like to withdraw. Select if you want to withdraw to your wallet or bank account. If ‘bank’, choose your preferred bank account from the ones you've added. You will receive your funds in a short time. For investments, you can withdraw funds when the investment matures and funds are moved into your wallet. Note: You need to have filled your bank details in your payments settings before attempting to withdraw into your set bank account.
Log in, click on 'payments' from the menu and scroll down. Click on 'withdraw', specify the amount you'd like to withdraw and choose your preferred bank account from the ones you've added.
Pettysave is ABSOLUTELY FREE OF BANK CHARGES.
Yes you can but you cannot withdraw from any plan you locked until the set end date (customers lock their plan to help them to be financially disciplined). However a 5% deduction charge will be taken on withdrawals made outside the free withdrawal dates. For target save plans, when the set end date has been reached but you have not reached your goal, your interest will be deducted only. On Autosave Yes, but a 5% charge is deductible on any withdrawals made outside the free withdrawal dates to encourage your savings habit. For locked autosave plans, you can withdraw when you reach the set unlock date but a 5% charge will still be deducted if it does not fall on the free withdrawal dates. On Target save Yes, but a 5% charge is also deductible on any withdrawals made outside the set end date(s) to encourage discipline. When the set end date has been reached but you have not reached your goal, your interest will be deducted only. For locked target save plans, you can’t withdraw till the set end date. On Vault No, you can only withdraw from a vault plan when you hit the set end date and the plan matures. On Wallet Yes, you can withdraw from wallet anytime you want at to no charge On Investments No, you can only withdraw funds when the investment matures and funds are moved into your wallet. Also, you can only withdraw twice a day. If you have not linked your BVN to your Pettysave account, the maximum you can withdraw is ₦50,000 per day. But if you have linked your BVN, you can withdraw as much as you want from your Pettysave account but not more than twice a day.
Free withdrawal dates are March 31st, June 30th, September 30th, December 31st for autosave plans. For target save, when you hit the target amount and the set end date, your funds will be moved to your Pettysave wallet where you will be able to withdraw for free. If you withdraw from target save before meeting the two criteria (amount and end date), you will be charged a 5% penalty. If by your target save end date, you haven’t hit your target amount but wish to withdraw, you can do so. However, that means you will forfeit all interest accrued from the plan. For vault, you can withdraw for free when you hit the set end date. Funds in your vault cannot be withdrawn at all till the set end date. And for investments, you can withdraw funds for free when the investment matures and funds are moved into your wallet.
You will receive withdrawn funds within the first few hours (usually between 1 minute to 2 hours). If it exceeds a few hours, kindly contact email@example.com and share details including screenshots.
Once your referral saves up to ₦2000 or invests any amount, you will both receive ₦250 each. Your ₦250 will be paid into your ‘Referral plan’ while your referral’s ₦250 will be paid into their wallet. While withdrawing from wallet is free, while the ‘referral plan’ is a savings plan with no interest, top-up, editing or cancellation ability. You can withdraw from the plan at the end of each month as long as you have linked your BVN to your Pettysave account.
If you have not linked your BVN to your Pettysave account, you will receive your referral commissions in a ‘Commission plan’. The ‘commission plan’ is a savings plan with no interests, top-up, withdrawals, editing, or cancel ability. When you put in your BVN, the plan will be ‘complete’ and the balance will be moved to your wallet. If you have already linked your BVN to your Pettysave account, your referral commission goes straight to your Pettysave wallet and withdrawing from your wallet is free.
Can't find what you are looking for?
Send an email to firstname.lastname@example.org or call customer care on 08179448367