How safe is PiggyVest?

4 min readJul 2, 2020


We know trusting us with your money is a big responsibility, one we take seriously. But you’re in great company: more than 1 million users trust us to save and invest securely. So, here are a few things we do to make sure your money’s safe when you save and invest with Piggyvest:

How does Piggyvest keep my money safe?

Initially, we operated in partnership with 2 Microfinance banks, and used their licenses. And in early 2018, we acquired a Microfinance bank and its license. We are also a registered cooperative Piggytech Cooperative Multipurpose Society Limited (Registration number, 16555). All saved funds are warehoused with our asset management partners who are all registered and licensed by the Securities and Exchange Commission (SEC). So yes, your money is safe with us.

Is my data secure?

Your money and personal data are safe and secure. We use only the highest levels of Banking Security, secured by 256 bits SSL security encryption, to ensure that your information is completely protected and secure.

How do I withdraw?

You can withdraw your money from your PiggyVest account anytime. Simply click on the withdraw button, and follow the steps.

Why do I need to enter my debit/ATM card details?

In order to save and invest on Piggyvest, you need to link your debit/ATM card. By doing this, you are able to set the amount you want saved into your account from your ATM/debit card. You can set how frequently you want to save and how much. You have full control.

We don’t store your card information and do not make any changes.

Our payment processor, Paystack, is PCI DSS compliant (globally certified), and encrypts your card data.

Can I use the same debit card on two different accounts?

For your safety, you can’t use the same debit card on two different accounts. This is to put in place to safeguard and protect you. We understand that you have different things to save for, we created Target Savings for this purpose. The Target Savings feature on the app allows you to save towards as many goals as you’d like. There is no limit on the number of goals you can create.

Why do I need to add my BVN?

Your BVN is required to validate your identity and further protect you against identity or money theft. In addition to regulatory requirements, adding your BVN adds an extra layer of security on your funds and transactions, it also unlocks more features on your Piggyvest account. To get the most out of Piggyvest, we advise you to add your BVN.

Why is my account Flagged?

If your account is flagged, it is done as a precautionary measure to safeguard your account against suspected fraudulent activities. Some of the common things that can cause your account to be flagged are:

  • Adding the same debit card to multiple accounts
  • Entering a withdrawal bank account that does not match the name on your Piggyvest account
  • Entering the same withdrawal bank account on multiple Piggyvest accounts
  • BVN added to multiple accounts

As you can see, the pattern here is ensuring there is no duplicitous activity.

New to Piggyvest? Find out more about us on our blog.

We are also active on social media: Twitter/Instagram- @piggybankNG (both accounts are verified)




Save little amounts daily, weekly or monthly automatically from your debit card. Visit to get started today.