How To Withdraw My Money From Cowrywise Before Maturity Date

In this post, I will walk you through how to withdraw my money from Cowrywise before the maturity date including answers to some related questions.

But before that below is something crucial you need to explore:

Cowrywise Savings Plan & Types

Cowrywise is a Nigerian financial technology (fintech) platform that offers various types of savings plans to help users achieve their financial goals.

However, here are some of the common types of Cowrywise savings plans you need to know before you explore how to withdraw your money from Cowrywise before the maturity date:

Regular Savings Plan

This is a basic savings plan where users can deposit funds regularly. It doesn’t matter whether you want to save daily, weekly, or monthly, to build up your savings over time.

Read: How to Start Saving your Naira in Dollars and Foreign Currencies (Convert your Naira to Dollars)

You may also set specific savings targets and track your savings progress.

Halal Savings Plan

Halal savings plan is one of the cowrywise savings features but was primarily designed to comply with the Islamic principles of finance.

It avoids interest (riba) and adheres to Islamic ethical guidelines.

Flex Dollar Savings Plan

Cowrywise financial company also introduced the “Flex Dollar Savings Plan ” to allow users to save in US Dollars. 

It enables Nigerians to save in a more stable foreign currency and hedge against the local currency’s volatility.

Stash

Stash is a popular Cowrywise virtual wallet that enables you to save and invest without the use of a debit card.

It is also meant for receiving withdrawals and payout for your mature savings and investment plans.

Life Goals

Cowrywise is also known for offering various life goals-based savings plans to help users save for specific purposes like education, travel, buying a house, etc. Each goal has a target amount and a suggested saving frequency.

Wealth Management

Cowrywise also offers some investment opportunities, where users can invest their funds in mutual funds and other financial instruments to potentially earn higher returns. 

Read Also: Forgot my Piggyvest Password and Pin – How to Reset, Change and Recover Piggyvest Password and Pin

Now is the best time to provide an answer to the main topic that brought you here (how to withdraw my money from Cowrywise before the maturity date).

How To Withdraw My Money From Cowrywise Before Maturity Date

Have you locked your money on Cowrywise and wanted to withdraw but it seems impossible?

If yes, then it means you definitely don’t understand the money-locking features and its term.

However, the answer to your question (how to withdraw my money from Cowrywise before maturity date) can be found right below:

With Cowrywise locked funds, you cannot withdraw your locked funds before the specified maturity date. 

When you opt for certain savings or investment products, there would be a predetermined period during which your funds are locked in. 

This lock-in period is designed to promote long-term saving and discourage premature withdrawals that could disrupt your financial goals.

Recommended: Cowrywise Vs PiggyVest: Which is better?

FAQs On How To Withdraw My Money From Cowrywise Before Maturity Date

Here are some helpful frequently asked questions on How To Withdraw My Money From Cowrywise Before Maturity Date with answers:

Can I withdraw my money from Cowrywise before the maturity date?

With the Cowrywise fund locking plan, you must understand that any fund saved here cannot be withdrawn until the maturity period you set.

How long does it take to process a withdrawal from Cowrywise?

According to the cowrywise help center, it takes 24 hours for your withdrawal to be processed.

Can I make partial withdrawals from my Cowrywise savings plan?

The ability to make partial withdrawals from Cowrywise savings plans depends on the specific plan you have selected.

Some plans allow partial withdrawals, while others require you to wait until the maturity date to access your funds. 

How do I withdraw from my Cowrywise account?

To initiate a withdrawal from your Cowrywise account, log in to your account and navigate to the appropriate section or option that allows you to request a withdrawal. 

Follow the instructions provided by Cowrywise, which may include specifying the amount you wish to withdraw and providing your bank account details for the transfer of funds.

Are there any minimum withdrawal amounts on Cowrywise?

You can withdraw all your money from Cowrywise. However, bear in mind that cowrywise withdrawal below N50k will incur a charge fee of N25, and withdrawal above N50k incur a charge fee of N50.

The fees mentioned above are applicable to your first 10 withdrawals in a month. After that, it becomes N100 flat fee per withdrawal in that specific month, regardless of the amount.

Can I cancel a withdrawal request on Cowrywise?

Once a withdrawal request has been submitted on Cowrywise, it may not be possible to cancel it. 

However, it’s quite recommended to contact Cowrywise customer support as soon as possible if you need to make any changes or inquire about the possibility of canceling a withdrawal request. 

Can I withdraw my funds on cowrywise at any time of the year?

In general, Cowrywise allows users to carry out withdrawals at any time except the money is locked. 

What should I do if I encounter any issues with a withdrawal from Cowrywise?

If you encounter any issues or have concerns regarding a withdrawal from Cowrywise, I’ll recommend you to contact their customer support as soon as possible.