How to Close, Delete or Deactivate your Piggyvest Account Easily

PiggyVest, a prominent Nigerian financial technology (fintech) platform founded in 2016, offers a range of services, including savings, investments, and personal finance management. While PiggyVest aims to promote a savings culture, users may find themselves in situations where they need to close, delete, or deactivate their accounts. This comprehensive guide explores the process of closing or deactivating a PiggyVest account, as well as the steps to reactivate it if necessary.

How to Close, Delete or Deactivate your Piggyvest Account Easily

1. Withdraw All Funds: Before initiating the account closure process, it is crucial to withdraw all remaining funds from your PiggyVest account. This ensures that you have full access to your money and avoids potential delays or complications.
2. Contact PiggyVest Customer Support: PiggyVest provides multiple channels for reaching customer support, such as email ([email protected]), phone (0700 933 933 933), or live chat. Choose your preferred method and initiate contact to express your intention to close, delete, or deactivate your account.
3. Provide Necessary Information: PiggyVest’s customer support team will guide you through the account closure process and request confirmation of your decision. Be prepared to provide necessary details, including your full name, registered email address, and any other relevant account information. This step ensures the closure is initiated by the rightful account holder.
4. Wait for Confirmation: After completing the required steps with customer support, you will receive confirmation of your account closure. The specific timeframe for closure may vary based on PiggyVest’s internal processes.

What Happens to Your Savings After Account Closure

Once your PiggyVest account is closed, your savings history and any accrued interest will be lost. Therefore, it is essential to withdraw all funds before initiating the closure process to ensure you retain control over your financial data.

Reactivating Your PiggyVest Account

If circumstances change, and you decide to reactivate your PiggyVest account after closing it, follow these steps:

1. Contact Customer Support: Reach out to PiggyVest’s customer support through email ([email protected]) with a clear subject line stating your request for account reactivation.
2. Provide Necessary Information: In the body of the email, provide the necessary details, including your full name, registered email address, and any other relevant account information. Briefly explain the reason for your request, if applicable.
3. Follow Instructions: PiggyVest’s customer support team will review your request and provide instructions on how to proceed with the account reactivation. They may require additional information or documentation to verify your identity before reactivating the account.

F.A.Q

How do I permanently delete my PiggyVest account?

To permanently delete your PiggyVest account, contact PiggyVest at [email protected] or call 0700 933 933 933. Provide sufficient information for identity verification, and they will assist you in closing your account and canceling the associated terms.

How do I break my PiggyVest?

To break a PiggyVest target savings, log into your dashboard, select ‘Target Savings,’ go to ‘Ongoing Targets,’ choose the target you want to end, and click ‘Break.’ The funds will be transferred to your Flex wallet for easy access.

How do I Unflag my PiggyVest account?

To lift a temporary flag on your PiggyVest account, email [email protected]. The Financial Operations team will conduct necessary validation checks, and once cleared, the flag will be lifted to prevent suspicious activity.

What is the breaking fee for PiggyVest?

PiggyVest charges a 2.5% breaking fee on the amount withdrawn outside the designated withdrawal day. This fee is imposed to encourage financial discipline and discourage careless withdrawals.

Is my money safe in PiggyVest?

Yes, your money in PiggyVest is safe. The platform employs high-level banking security with 256-bit SSL encryption to protect your information. Additionally, PiggyVest collaborates with PCI DSS-compliant payment processors, Paystack and Flutterwave, ensuring secure handling of your card details.

What are the disadvantages of PiggyVest?

PiggyVest has a 2.5% withdrawal penalty and inflexible withdrawal policies. Additionally, its dollar account cannot receive dollar transfers. Despite these drawbacks, PiggyVest offers advantages such as high-interest rates, transparency, an automatic savings feature, and opportunities to earn Piggy Points.

Why will Piggyvest flag my account?

Common reasons for PiggyVest account flagging include adding the same debit card to multiple accounts, entering a withdrawal bank account that doesn’t match the account holder’s name, and using the same withdrawal bank account on multiple PiggyVest accounts.

How do I change my Piggyvest account number?

To change your PiggyVest account number, log in, tap on the “New Virtual Account Numbers” banner, and create a new account number.

Who founded Piggyvest?

PiggyVest was founded by Somto Ifezue, Joshua Chibueze, and Odunayo Eweniyi. Odunayo Eweniyi serves as the Co-founder and Chief Operations Officer of PiggyVest.

How do I lock my money on PiggyVest?

To lock your money on PiggyVest using the SafeLock™ feature, open the SafeLock™ page, enter the amount, title, and return day. Confirm your agreement to the terms, and the specified amount will be moved to your SafeLock™.

How old is PiggyVest?

PiggyVest, initially launched as “Piggybank.ng,” is the first online “Savings & Investment” app in West Africa. It was inaugurated on the 7th of January 2016, initially operating as a savings-only platform.

Can you transfer from one PiggyVest account to another?

Yes, you can transfer funds from your PiggyVest Flex to another user’s Flex account. Simply navigate to Flex Naira/Dollar and choose the Transfer option.

Does PiggyVest have a physical office?

PiggyVest is headquartered in Lagos at Tesmot House, 3 Abdulrahman Okene Close, Off Ligali Ayorinde St, Nigeria. It currently has one office location.

How much can I save in my Piggyvest account?

PiggyVest allows flexibility in savings. For instance, if you set a daily goal of N1,000 and miss a day, you can use the quick save option to deposit up to ₦200,000 at once to catch up with your savings target. You can repeat this multiple times in a single day.

Conclusion

Closing, deleting, or deactivating your PiggyVest account is a straightforward process that involves withdrawing funds, contacting customer support, and confirming your decision. It’s crucial to follow the specific instructions provided by PiggyVest’s customer support team to ensure a smooth closure or reactivation process. Keep in mind the impact on your savings history and accrued interest when closing your account and take appropriate steps to safeguard your financial information. Whether closing or reactivating, maintaining clear communication with PiggyVest’s support team is key to a successful and hassle-free experience.