How to Activate your #1000 Registration Bonus/ Referral Bonus on PiggyVest.
A lot of times I get questions from people on how to activate their #1000 registration bonus or referral bonus. And I hope to help out to the best of my ability.
Disclaimer
I am not a staff of PiggyVest neither do I have any affiliations with PiggyVest Management. I am simply a user who has saved with the platform for almost 3years, thus I speak from my personal user experience.
In case you didn’t know, PiggyVest rewards you #1000 bonus when you join or register with piggyvest. PiggyVest also pays you #1000 bonus for each referral or friends you invite to join piggyvest savings platform.
If you have not started saving with PiggyVest yet, Click here to Start Saving.
Before you ask how does PiggyVest get all the money to “dash” someone just for registering or for inviting someone. One of the beliefs of PiggyVest Team is that peer-to-peer advertising works better thus they prefer users of the platform telling their friends and families about the platform from their own experiences using the platform than they spending huge amounts of money on advertising and marketing. Thus they are rewarding you for being their indirect marketers.
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.
But the problem a lot of users face after receiving the referral bonus is activating it so that they can withdraw it. And I will quickly explain.
In other to guard against fraudulent users who can go ahead creating multiple accounts and referring themselves to be getting excess referral bonus as well as registration bonus, they introduced a clause called “a valid user”. Thus referral bonus or registration bonus is only paid for “a valid user”.
The big question is “Who is a valid User” on PiggyVest.
According to an article in 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.
In other words, If someone signs up through your link, the person must meet the following criteria before the #1000 bonus will be released to you and also to the person.
This is how to go about it:
- The new user after login to his dashboard will click on the button “Redeem #1000 registration bonus.”
- The new user will be asked to Add their BVN. I know you will ask, why do one have to add BVN, what if they use it to hack my account. According to an official statement stated on their FAQ:
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.
Thus your BVN is safe and is only used to validate your account settings and also help in creating a virtual bank account for you called Piggy Flex Account that you can always use to receive and transfer money.
3. After you have added your BVN and validated your account, an account number is generated for your Piggy Flex Account. You are expected to make a transfer of at least #100 from your bank account to that new account. Once the transfer is successful, it will automatically reflect in your flex naira account.
4. After you have saved into your Piggy Flex account, you need to also save at least #1000 each into any other two accounts(PiggyBank, Safelock, Target Savings).
Thus click on quick save on your PiggyBank account and save at least #1000. Also click on Safelock or target savings and Save #1000 there too.
Note that all the money you are putting there are still your own and you can still withdraw them anytime. Thus you are not paying for anything, but they want to ensure that you are a valid user, not a dummy user.
If you are confused on how PiggyBank or Safelock or Target savings works, you can refer to my earlier article here: How PiggyVest Works.
Once you have successfully completed these simple steps, your #1000 registration bonus will be moved to your Safelock where it will stay for 10days to mature, after which it is automatically transferred to your flex account from where you can easily withdraw it it your bank account.
Also the #1000 referral bonus in the safelock of the person who referred you is automatically transferred to their own flex account.
If you are the one that referred someone through your referral link, do well to guide them through this process so that your #1000 referral bonus will be unlocked to you. Confused on how referral links work? You can ask me directly on Whatsapp: 07038229702.
I hope I have been able to answer the question: How to activate #1000 registration bonus on PiggyVest.
I have a growing Finance whatsapp community where we discuss topics around savings and investments. You may wish to join us here: 4im Savings and Investments
Any other questions on PiggyVest? Read this my article: How PiggyVest Works or you can chat me on Whatsapp: 07038229702.
Keep Saving and Investing your way to financial freedom.
