You must have heard about Piggyvest and how it pays its users ₦1000 naira referral bonus for every valid user they invite to the platform or in other words, every valid user that signs up on the Piggyvest saving platform using your referral link.
I have been finding questions such as: is Piggyvest legit? how can I withdraw my referral bonus? how do I activate the ₦1000 naira referral bonus? and I will try to explain to you how the referral program works and how you can earn from the referral program too.
I use PiggyVest to save & invest securely, so I’ll be speaking from my own personal experience. Sign up with my link and get ₦1,000.00 to start your own savings journey today — https://www.piggyvest.com/?newref=1&ref=5dd8f750e30519.
So let’s start with how does Piggyvest gets all the money to give out for referring people to the platform. Well, the answer to this question is also the same answer to why they pay you ₦1000 naira referral bonus and it’s simply because Piggyvest believes peer to peer (P2P) marketing strategy which means encouraging customers to engage other customers by advocating a product or service to friends or associates.
So here is how the referral bonus is earned according to Piggyvest FAQ.
When someone signs up to PiggyVest using your referral link, you and the person you have referred each earn N1000, which is paid into your SafeLock. This matures to your flex account after 10days once the referred user is marked valid.
As a new user, your bonus will be paid into your SafeLock and matures to your flex account 10 days after you have been marked valid.
Although, many people are faced with the challenges of how to withdraw their referral bonus from Piggyvest and I will quickly explain to you how you can withdraw it.
In order for you to be able to withdraw your Piggyvest referral bonus, you have to be considered a “valid user” and who is a valid user?
According to an article on Piggyvest FAQ;
To be considered valid, a new user must:
Link their BVN and fund their Flex Naira wallet with at least #100 via a direct bank transfer to their flex account number
Fund any other two wallets with at least #1000 each. This could be Piggybank, Safelock, or Target savings wallet.
Once all of these have been done, referral bonuses will be unlocked and sent to your flex account at the maturity date.
P.S: The funds need to be maintained in both wallets until the bonus has been paid.
After you have met those criteria, here’s how to go ahead and withdraw your PiggyVest referral bonus.
- Login to your Piggyvest dashboard
- Click on “Flex Naira” account or “Redeem N1000 registration bonus”
- You should see “No flex account number!” and a short message underneath that which reads “You have no BVN connected to your Piggyvest account. Please add your BVN to your flex account number”
- Now, Click on “Get Account Number” and a page will pop up asking you to securely connect your BVN
Why do I have to add my BVN?
According to Piggyvest;
Your BVN is required to validate your identity and kick against identity theft. This ensures another level of safety for your funds and transactions.
It also unlocks other features like transfers from your Flex to another user’s Flex account.
What if I no longer have access to the phone number linked to my BVN?
In a situation, where you no longer have access to the phone number linked to your BVN, kindly contact your bank to update the phone number.
5. Once you have your flex account number, you are expected to fund your flex account with at least #100 from your bank account. Once the transfer is successful, it will show up in your flex naira account
6. It is also advised to also save at least #1000 each into any other two accounts(PiggyBank, Safelock, Target Savings) in your Piggyvest account
7. Now, once you have completed all the above steps, your N1000 referral bonus will be moved to your Safelock where it will stay for 10 days to mature, after which it is automatically transferred to your flex account and you can easily withdraw it to your bank account.
Note: You have to make sure your referral must have created their Flex account using the steps explained above and fund the account with at least NGN 100 (100 Naira) so as to make piggyvest release your referral bonus for withdrawal.
If any of your referral fails to add their BVN to enable them create a Flex account, you will get an email after 10 days stating why piggyvest is unable to release the referral bonus to you.
The saving platform launched in 2016, now has over 3,000,000 people who have used PiggyVest to manage their money better, avoid over-spending and be more accountable. This proves that PiggyVest is legit and not a scam.
So If you’re reading this now and you have not started saving with PiggyVest yet, Click here to Start Saving.
If you have other questions, please leave them in the comments section below and I’ll reply to them as soon as possible.
