Please note that your use of and access to the services (as defined below) are subject to the following terms; if you do not agree to all of these terms, you may not use or access the services in any manner.
Last updated: March 2023
These Terms of Use (these “Terms” ), together with any documents expressly incorporated by reference in these Terms, represent an agreement between you and PiggyTech Global Holdings Limited ( "PiggyVest" ) and contain the terms and conditions governing your use of and access to our website at https://www.piggyvest.com and all affiliated websites and mobile application owned and operated by us (collectively, the “Website” ) and our products, services, and applications (together with the Website, the “Services” ) including any content or functionality offered through the Website or the Services, whether as a guest or registered user.
“You” and “your” mean the person who uses or accesses the Services.
“We,” “us,” and “our” mean PiggyVest and its successors, affiliates, and assignees.
“PocketApp Account” means a registered account on the website and mobile application at https://pocketapp.com or any other affiliated website and mobile application (collectively, “PocketApp”) operated by Abeg Technologies Limited, an affiliate of PiggyVest.
As used in these Terms, “PiggyVest Account” means the account you have with us for the Services.
Your use of and access to the Services are subject at all times to these Terms and our Privacy Policy. Please read these Terms and our Privacy Policy carefully. By using or accessing the Services, you represent that you have read and understand these Terms and our Privacy Policy and you agree to be bound by these Terms and our Privacy Policy. If you do not agree to all the terms and conditions of these Terms and our Privacy Policy, do not use or access the Services.
In order to use the Services, you must: (a) accept and agree to these Terms and our Privacy Policy; (b) register with us on the Website; (c) be a Nigerian citizen (or a legal Nigerian resident) of at least eighteen (18) years of age; (d) have a Bank Account with a Nigerian financial institution; and (e) provide all information requested by us, such as your name, email address, mobile device number, online credentials for your Bank Account, and such other information as we may request from time to time (collectively, “User Information”).
Your eligibility to use this Website also depends on the country you reside in. Currently, this Website operates only in Nigeria, and is only available to users who have Nigerian bank accounts. You may use the Services only if you agree to form a binding contract with PiggyVest and are not a person barred from receiving services under the laws of the applicable jurisdiction.
You represent and warrant that all User Information you provide us from time to time is true, accurate, current, and complete. You agree not to misrepresent your identity or your User Information. You agree to promptly notify us of changes to your User Information by updating your PiggyVest Account on the Website; provided, however, that you must notify us at least three Business Days before any changes to your Bank Account information, including, but not limited to, the closure of your Bank Account for any reason by calling 0700 933 933 933 or emailing contact@piggyvest.com or by updating your PiggyVest Account via the Website. If we approve your registration, you will be authorized to use the Services, subject to these Terms.
For our compliance purposes and in order to provide the Services to you, you hereby authorize us to, directly or through a third party, obtain, verify, and record information and documentation that helps us verify your identity and Bank Account information. When you register for the Services and from time to time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you, such as: A copy of your government-issued photo ID, such as a passport, national identity card or driver’s license; Bank Verification Number (BVN) A copy of a utility bill, bank statement, affidavit, or other bill, dated within three months of our request, with your name and Nigerian street address on it; and Such other information and documentation that we may require from time to time.
By using the Services and providing User Information to us, you automatically authorize us to obtain, directly or indirectly through our third-party service providers and without any time limit or the requirement to pay any fees, information about you and your Bank Account from the financial institution holding your Bank Account and other third-party websites and databases as necessary to provide the Services to you. For purposes of such authorization, you hereby grant PiggyVest and our third-party service providers a limited power of attorney, and you hereby appoint PiggyVest and our third-party service providers as your true and lawful attorney-in-fact and agent, with the full power of substitution and resubstitution, for you and in your name, place, and stead, in any and all capacities, to access third-party websites, servers, and documents; retrieve information; and use your User Information, all as described above, with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with such activities, as fully to all intents and purposes as you might or could do in person. YOU ACKNOWLEDGE AND AGREE THAT WHEN WE OR OUR THIRD-PARTY SERVICE PROVIDERS ACCESS AND RETRIEVE INFORMATION FROM SUCH THIRD-PARTY WEBSITES, WE AND OUR THIRD-PARTY SERVICE PROVIDERS ARE ACTING AS YOUR AGENT, AND NOT THE AGENT OF OR ON BEHALF OF THE THIRD PARTY. YOU ACKNOWLEDGE AND AGREE THAT WHEN WE OR OUR THIRD PARTY SERVICE PROVIDERS RECEIVE YOUR BANK ACCOUNT, DEBIT OR PAYMENT CARD AND/OR OTHER SECURITY INFORMATION IN RELATION TO THE DEBITING OR CREDITING YOUR BANK ACCOUNT(S), YOU HAVE AUTOMATICALLY AUTHORISED DEBITS AND CREDITS FROM AND TO YOUR BANK ACCOUNT AS APPLICABLE. You agree that other third parties shall be entitled to rely on the foregoing authorization, agency, and power of attorney granted by you. You understand and agree that the Services are not endorsed or sponsored by any third-party account providers accessible through the Services. We make no effort to review information obtained from the financial institution holding your Bank Account and other third-party websites and databases for any purpose, including, but not limited to, accuracy, legality, or non-infringement. As between PiggyVest and our third-party service providers, PiggyVest owns your confidential User Information.
The information you provide us is subject to our Privacy Policy.
The purpose of the Services is to help you save and invest with minimal effort.
We debit your debit card (the amount you specify, subject to applicable law). You can request for your savings at any time or on any of our payout days, depending on the specific product under the Services. Funds may be transferred to your PiggyVest Account from any available options on the Website.
Your funds will remain in your PiggyVest Account until you instruct us to transfer any or all of your funds from your PiggyVest Account to your Bank Account or to your PocketApp Account. We will generally transfer the requested funds from your PiggyVest Account to your Bank Account or your PocketApp account (as requested) within two Business Days of when we receive your request. It is important to know the amount of available funds in your PiggyVest Account before instructing us to transfer funds from your PiggyVest Account.
Your savings and funds transfer activities via the Website shall be subject to transaction and balance limits in accordance with applicable law.
If you do not have sufficient available funds in your PiggyVest Account to cover the amount of the requested transfer, your request for the transfer will be declined. We may also transfer funds from your PiggyVest Account to your Bank Account without notice to you upon the closure of your PiggyVest Account as described below and at any time if required by applicable law or if we, in our sole discretion, suspect the Services are being used for illicit purposes or otherwise in violation of these Terms.
We also have a PocketApp Funding option available for you which allows the funding of your PocketApp Account from your PiggyVest Account. You understand and agree that you shall also comply with the terms and conditions on the PocketApp in order to use the PocketApp funding option.
You may not use the funds in your PiggyVest Account to make purchases, withdraw cash or for any other purpose not provided on the Website. You are solely responsible for determining whether the funds debited from your debit card and the funds maintained in your PiggyVest Account are acceptable to you. We are not responsible for any third-party fees that you may be incurred as a result of using the Services.
PiggyVest is not a financial adviser, and the Services are not intended to provide financial or investment advice. Your financial situation is unique. We are not responsible for ensuring your debit card and/or Bank Account has sufficient funds for your needs, purposes, or transactions. We do not make any representations, warranties, or guarantees of any kind that the Services are appropriate for you. Before using the Services, you should consider obtaining additional information and advice from a financial adviser.
You may obtain information about the balance of funds in your PiggyVest Account at any time by logging into your account on the Website.
You will receive interest or other earnings on the funds in your PiggyVest Account in accordance with the rates, timelines and other terms as specified for each product on the Website.
There are no transaction charges or monthly fees for the Services. We reserve the right to charge fees for the Services in the future, at our sole discretion. We will notify you before charging a fee for the Services by delivering notice to you electronically, by posting such fee on the Website, or by any other method permitted by applicable law. If you continue using the Services after such notice, you must pay all applicable fees for the Services.
Withdrawing all or part of your savings is completely FREE of charge; however, you agree that you will be charged a 2.5% penalty fee or such other percentage to be determined at our discretion, and communicated to you, if you withdraw your savings from the Piggybank product outside any of the FREE withdrawal dates published on PiggyVest’s home page and FAQ page. You also agree that you have accepted and are bound by all the terms and responses published on PiggyVest’s FAQ page.