Business and Finance

Is Owealth Legit? How Safe And Secured Is Owealth, A Saving And Investment Platform On Opay

To ensure financial security, saving and investing money is crucial. However, finding a trustworthy investment platform can be challenging. Recently, Nigeria has seen the emergence of various investing platforms, offering new opportunities. One such platform is Owealth.

Integrated within the OPay App, OWealth is a savings and investment platform that allows users to earn daily interest by stashing a portion or all of their OPay balance. With a fixed yearly interest rate of 15%, it surpasses the 6% offered by top Nigerian banks.

What is Owealth

Owealth is a feature within the Opay mobile app, enabling users to invest in diverse products like fixed deposits and mutual funds. Whether investing small or large amounts, users can earn returns on their investments.

Launched in 2018, Opay is a Nigerian platform offering mobile payments, financial services, and more. Its services include mobile money transfers, bill payments, airtime purchases, and financial options like Owealth, aimed at providing users access to investment opportunities and wealth growth.

How does Owealth it works

Owealth operates by enabling customers to invest funds in a variety of financial instruments via its platform. It collaborates with multiple asset management firms to present investment opportunities to customers.

Based on their risk tolerance, investment timeline, and financial objectives, customers have the freedom to select their favored investment choice. Additionally, Owealth provides a savings feature permitting customers to save money at regular intervals while accruing interest on their savings.

Is Owealth legit (How Safe And Secured Is Owealth) ?

Owealth is indeed a legitimate investment platform. It maintains a strong focus on safety and security measures to ensure a protected environment for its users. The platform’s affiliation with Opay, a regulated financial services provider authorized by the Central Bank of Nigeria (CBN), adds to its legitimacy.

Owealth collaborates with reputable asset management firms to offer investment options and employs advanced security features such as encryption, two-factor authentication, and firewalls to safeguard users’ sensitive information. However, it’s important to acknowledge that all investments inherently carry risks, and while Owealth strives to provide a secure platform, there is no guarantee of profits, as the value of investments can fluctuate and result in potential losses.

How To invest in Owealth

Inorder to get started, just follow the simple steps below;

Download & Install: Get the OPay app from Google Playstore (Android) or Apple Store (iOS).
Register: Sign up for an account and log in with required info.
Add Funds: Deposit money into your OPay account.
Access OWealth: Click on ‘OWealth’ or ‘Savings’ in the app.
Agree to Terms: Read and accept the terms and conditions.
Invest: Transfer money into your OWealth account.
Confirm: Verify the investment amount and click “done.”
Monitor: Your OWealth balance will update daily with accrued interest.

F.A.Q

Is it safe to save money on OPay?

Yes, it appears safe to save money on OPay. With its licensing by the Central Bank of Nigeria (CBN) and insurance by the Nigerian Deposit Insurance Corporation (NDIC), OPay’s financial operations seem to be regulated and secured. The platform’s encryption of transactions further adds a layer of security. However, as with any financial platform, it’s always wise to exercise caution, use strong passwords, and keep an eye on your account activity.

Can OPay be trusted in Nigeria?

Yes, OPay has garnered trust in Nigeria due to its impressive user base of around 30 million and a widespread network of 500,000 agents. The platform’s seamless mobile money transfer services and additional offerings have contributed to its reputation among customers and fintech enthusiasts. This substantial user base and agent network indicate a level of reliability and acceptance within the Nigerian market. However, as with any financial service, users should exercise diligence, maintain awareness of their transactions, and follow best practices to ensure their financial security.

Which year OPay launched?

OPay Nigeria was established in 2018 and has since experienced significant growth. The company has become a well-known name in Nigerian households, boasting more than 40 million users, a network of 500,000 agents, and 300,000 merchants. This expansion highlights OPay’s rapid development in a relatively short span of time, establishing itself as a trusted platform for various financial transactions, payments, and collections across Nigeria.

How do I unlock my money on OPay?

To unlock your money on OPay, you can reach out to their customer support. Utilize their available channels, including email, in-app support features, or their customer support hotline. When contacting them, make sure to provide your account details and explain the reason for the account freeze. This information will help the customer care agent understand your situation and assist you in resolving the issue promptly. Remember that clear communication and accurate details will increase the chances of a swift resolution to unlock your funds.

Can a 16 year old use OPay?

No, individuals under the age of eighteen (18) are not permitted to use OPay’s services. The terms and conditions state that if you are below eighteen years old, you are ineligible to use the OPay service. This policy adheres to legal regulations and ensures that the service is used only by individuals who are of the appropriate legal age for engaging in financial transactions.

Can I use my OPay account without BVN?

Yes, it is possible to create an OPay account without a BVN (bank verification number). Many Nigerians, especially those engaged in small businesses, require OPay accounts for swift transactions. Some individuals wonder if they can open an OPay account without a BVN. The answer is affirmative – YES. OPay allows individuals to create accounts without the necessity of a BVN, making it accessible to a wider range of users who may not have a bank verification number. This flexibility aids those seeking efficient financial solutions while accommodating different user profiles.

What is the full company name of OPay?

The full company name of OPay is “OPay Digital Services Limited.” Operating under the trade name OPay, the company functions as a mobile-based money platform. It specializes in providing services such as money sending and receiving, funds disbursement, and payroll processing solutions.

Conclusion

Owealth demonstrates promise as a genuine saving and investment platform within the Opay ecosystem. Its legitimacy is backed by Opay’s established reputation. While no platform is entirely risk-free, Owealth likely employs security measures to protect user data and investments. It’s important for users to approach it with a balanced perspective, valuing its potential benefits while remaining vigilant about personal financial choices.