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How Piggyvest Referral Works

how piggyvest referral works

Piggyvest has come a long way since earlier in 2019 when I wrote a PiggyVest review about how to save and make money on PiggyVest. If you’ve not read it, you should check it out, it is very informative on the piggyvest savings and reward program. The year 2019 was very eventful for me so it has been a very long time since I last updated this blog but you can be assured that in 2020, I will be bringing you some very valuable blog posts. Anyway, this post is going to an exposition on how piggyvest referral works because since the last review post I wrote about piggyvest, they have made big changes to their referral program. And many people keep asking me questions about how the piggyvest refer and earn program works since Piggyvest started locking up referral earnings with the piggyvest safelock feature, so I wrote this blog post to answer all your questions.

What were the big changes made to Piggyvest referral program?

Earlier in the year 2019, whenever you send out your referral links to friends and family to register with, it was somewhat hard to keep track of your referrals. Then later in 2019, Piggyvest introduced a new and better method of recording referral earnings (in my opinion). And although, I think this method makes referral earnings much more transparent, it also makes getting your referral earnings much more difficult and complicated; which is why I decided to write this article and solve all your Piggyvest referral program problems.

How does Piggyvest referral work?

As it stands, based on the Piggyvest refer and earn program also known as the Piggyvest affiliate program, if you refer someone to Piggyvest, you’re supposed to earn N1000. And the only way you can refer someone is if they use your referral link to do a piggyvest sign up. If you (or your referrals) also sign up on Piggyvest with a Piggyvest referral code or link (here’s my piggyvest referral link), you’re also eligible to get N1000 as well.

However, you and the person you have referred can only earn your bonus referral earning of N1000 if and when you become valid users. It’s only then that your referral earning will mature and be immediately transferred to your flex account and become your money which you can withdraw to your bank account. If you and your referrals don’t become valid piggyvest user, it’s likely that your referral earnings and referral bonus for registering will get locked in the piggyvest safelock for a long time till you decide to do the needful.

Who is a valid piggyvest user?

In my first article about piggyvest, I already discussed who a valid piggyvest user was but as at this time, the terms and conditions of being a valid piggyvest user have slightly changed. However, the truth is that if you are not a valid piggyvest user, you won’t know how to redeem piggyvest bonus of N1000 which is usually given to new referrals, neither will you be able to withdraw the piggyvest referral bonus of N1000 which you earn when someone registers on piggyvest with your piggyvest referral link.

To be considered a valid piggyvest user, you have two options:

Option 1: Link your BVN to your piggyvest account and fund your Flex naira with at least N100.

Frankly, many of us don’t like to expose or give our Bank Verification Numbers to anyone, myself included. But there are certain trusted institutions that you can share your BVN with. I’m not going to advise you on whether you should or should not submit your BVN to Piggyvest but what I do know is that many people have and they’ve had no problems with their accounts all these while.

You may be wondering why you need to add your BVN to your piggyvest account, let me give you some reasons. First of all, many financial institutions including Piggyvest use your piggyvest BVN to validate your identity and kick against theft. Your piggyvest BVN also ensures another level of safety for your funds and transactions on piggyvest. And thirdly, you can only unlock some piggyvest product features by submitting your BVN such as the ability to transfer from one piggyvest flex account to another.

In order to become a valid piggyvest user, after linking your BVN to piggyvest, you will also need to fund your piggyvest flex naira account with at least N100. But if you aren’t willing to do this, then you have another option.

Option 2: Fund any two Piggyvest products with at least N1000

I think this route is also a very good one, especially for people who are unwilling to drop their BVN numbers. All you need to do is to buy at least two Piggyvest products. But many people just don’t understand what “Piggyvest products” are and how many piggyvest products exist.

Here is a list of piggyvest products:

1. Piggybank Savings:

This is the first product/service offered by Piggyvest that allows you to save your money online straight from your bank account. If you save at least N1000 in your Piggyvest piggybank, you’re a 1/2 (half) valid user.

2. Piggyvest Target Savings:

Target Savings is yet another Piggyvest product/service that allows you to save for a goal by yourself or with a group. This way, you can create a personal target or group savings challenge to save for your rent, a vacation or to save for starting a new business.

3. Piggyvest Flex dollar:

Piggyvest Flex dollar is a new product/service that allows you to save, invest and transfer funds in dollars.

4. Piggyvest Flex Naira:

The Piggyvest Flex naira account or product is a flexible savings account where interests earned from piggyvest products are paid to. You also earn 10% per annum for funds in your piggyvest flex account as long as you don’t make more than 4 withdrawals in a month which leads to you losing all the accrued interest for that month. If you notice, you’ll also realize that you have a piggyvest flex account number or piggyvest providus bank account number which means that money can be transferred to your flex account if and when you become a valid user. This is mine:

Piggyvest flex account number

5. Piggy Points:

Piggy points is a reward product or service from piggyvest. You are rewarded for saving consistently using either the piggyvest autosave or piggyvest quicksave features.

To earn piggyvest piggy points, you will need to save at least N2000 per transaction and 1 piggypoint equals N10.

Piggyvest piggypoints earnings

6. Piggyvest Investify:

Investify is another piggyvest service product that allows you to invest some of your money either from your debit card/bank account or from the money you’ve saved in your piggybank and earn up to 25% interest per investment. The piggyvest investments are pre-vetted, low-medium risk investment opportunities that are insured with some level of protection and coverage.

Here is an example of an investify product that I bought for investing with piggyvest:

piggyvest investify

7. Piggyvest Safelock:

Safelock is a fixed sub-account or piggyvest fixed deposit account where you can transfer and lock funds from your piggybank savings wallet or debit card for at least 10 days and more. Once you lock your money in piggyvest safelock, you can’t access it till the funds reach maturity (i.e the end of the period of time you locked your funds for). This fixed savings option allows you to earn up to 15.5% per annum.

This is the piggyvest interest rate based on the duration you set for your locked funds.

Piggyvest Safelock interest based on the duration of locked funds

If you’ve also noticed, you will realize that all your piggyvest referral earnings are locked into a Piggyvest Safe lock with 10 days duration. However, until your referrals become valid users, your Piggyvest Safelock withdrawal will be forever extended.

Your piggyvest safelock bonus has been extended

The only way to get your piggyvest sign up bonus and piggyvest referral bonus is to become a valid user. However, if you know you’ve not registered on piggyvest before you stumbled upon this article, here is my piggyvest referral link and here is an article that can serve as a guide for new and interested piggyvest users.

How can I check my piggyvest referrals and total Piggyvest referral bonus in safelock?

Although piggyvest sends you a notification whenever a new piggyvest referral registers with your link, you may still want to check your piggyvest referrals and know your total piggyvest referral bonus both locked and unlocked. Here’s how to know if you have piggyvest referrals and see your total piggyvest referral bonus.

Step 1: Log in to your piggyvest account.

Piggyvest login

Step 2: Once you are logged in, you will be directed to your Piggyvest dashboard, click ‘My Account’ on the side menu.

Go to My Account in your piggyvest dashboard

Step 3: You will be directed to this page. From here, you need to click “Refer & Earn N1,000.00”.

Click Piggyvest refer and earn to see your total piggyvest referrals

Step 4: You’ll see an image of your total piggyvest referral bonus and you can scroll down to see your piggyvest referrals.

View total piggyvest referral earnings


Scroll down to see your list of piggyvest referral


You can click Savings on the left side bar of your piggyvest dashboard and click safelock to see all your referral bonuses locked in Piggyvest safelock.

Piggyvest referral earnings locked in piggyvest safelock


List of piggyvest referral in piggyvest safelock

In conclusion,

It is only when your piggyvest referral becomes a valid user that you can withdraw your piggyvest referral program earnings. However, once your referral is a valid user and the piggyvest referral bonus safelock has matured, your referral earnings will be transferred to your piggyvest flex naira account and withdrawing from your piggyvest flex account is very easy.

I hope this post on “How piggyvest referral earnings work” in one way or the other. If you have any questions or any particular blog post you would like me to write an extensive article about, you can use the comment section below to leave a comment. I promise to try my best to attend to your questions and requests. Thank you.

Piggybank ng Review: How to save and make money with Piggyvest
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