Frequently Asked Questions

General

What is Vested?

Vested is an intuitive app that provides seamless personal and joint financial solutions such as budget, transact, savings and investment. With market leading product assortment in a single easy-to-use platform, Vested enables its users grow, manage and secure their wealth in personal or more connected ways.

How is Vested different from traditional banks?

We offer a range of customizable features banks will not give you. With Vested you can build wealth just the way you want to, individually or with a partner. You can selectively couple your finances with those that matter to you and access your accounts any time, anywhere.

How do I open an account?

It only take a few minutes to Get Vested. You can download the mobile app on Google Play (for Android) or the App Store (for iPhone) and follow the prompts on your phone.

What fees do you charge?

There are zero charges on your Vested account and savings. It is completely free.
However, our payment partners charge a minimal processing fee for investments and transactions.

What kind of debit cards can I use on Vested?

Vested accepts debit cards issued by all Nigerian banks.

Is there a minimum balance?

No, with Vested, there is no minimum account balance.

Can I get an account statement?

Yes, you can, and at no cost. Click on Statements on your dashboard to see all your personal and joint account activities. You can also view your account statement for a specific time period.

How can I contact support?

Click on Support on your dashboard to reach out to us via email or social media. You can also contact us directly on https://vested.ng/help/
Our customer support agents are available to attend to all your inquiries, complaints, feedback and basic service needs.

Safety & Security

How safe is Vested?

Vested was developed with the security of your information in mind. Customer data is securely stored and encrypted to PCIDSS (Payment Card Industry Data Security Standard) compliant standards.

Are my card details safe?

Yes. We work with a PCIDSS-compliant payment processor which handles all our customers’ card details. This means that your card information are not stored with Vested. The PCIDSS is a standard guide all card companies must adhere to.

Why do I need to add my BVN?

Your BVN will help us verify your identity and protect you against identity theft. We do this by matching your details with the information on the national BVN database owned by the Central Bank.

How safe is my money?

All saved funds are warehoused with a CBN licenced deposit bank in Nigeria. Mutual funds products purchased on our platfom are transfered to respective asset management organizations and their fund custodians.

Accessing Vested

What do I do when the Vested username I want is taken?

No worries that you have selected a username that has already been claimed. To create a unique username, you can add numbers before or after your desired username and non numeric characters (: ! @ # & ( ) – [ { } ] : ; ', ? / *) after your desired name. Example: if you would like the username Susan but it has been claimed, consider selecting a name like Susan3 or Susan_ or Susan-5.

What if I forgot my password?

"No worries. On the login page of the Vested App, click on ""Forgot password"". Click on “Reset password”. An email with a reset link will be sent to your email, complete the password reset by clicking the link ('here') sent to your email. Complete the password change by inputting your new password on your Vested App."

Connected Experience

What is Family wealth?

Family wealth is an experience that helps you and your partner manage your everyday and long-term finances on Vested. With the Vested app, you can easily tackle everyday finances like paying bills, saving, and investing with your partner. Invite your partner to form a money team and smash your shared goals. All features on the Vested app are also accessible to partners.

What is Partner wealth?

Partner wealth is an experience that allows you set up a group account for the purpose of partnership. With the Vested app, you can operate group savings, group investments & group transactions accounts and easily tackle everyday finances with your partners. Invite your partners to form a money team and smash your shared goals.

How do I switch from my personal account to joint account?

You can conveniently switch from your personal (Vested) account experience to your joint account experience by swiping the wallet cards on your Vested dashboard.

How do I invite a partner to Vested?

You can easily invite a partner to Get Vested.
For new users, tap on the joint account icon on your Vested dashboard.
Add your partner by clicking on "Invite partner".
Invite partner via link, Whatsapp, Email or Text if partner is not a user of Vested.
For text, your contact list is shown, click on "Invite" if your partner is not a user of Vested and "Add" if your partner is a user of Vested.
Your partner accepts your Invitation and you can get started on smashing your goals.

My partner invited me and I signed up, but I can’t see my partner. What do I do?

No worries. If you were invited by email, it is likely that you signed up under a different email address than the one your partner used in the invite. To solve this, you would have to delete your current account, check your invitation email for the invited email, then use that to sign up. Or, you can ask your partner to cancel the current invitation and re-invite you using your desired email address.

Can I change partners after I have sent an invitation?

No. Unfortunately you cannot change your partner once it is set up.

Can I add more than one partner?

Yes. Family wealth is primarily limited to 2 users while Partner wealth is for 2 - 5 users.

How do I manage control with my partner?

You control how you bank with your partner. After you link your accounts, we'll ask you if you want your partner to approve all joint transactions and receive notifications or you want your partner to only receive notifications.

Can my partner see all of my transactions?

No. Your partner can only see transactions made in your joint account. Your personal account remains private to you.

How do I split money with my partner?

You can conveniently split money with your partner by editing the percentage to be contributed or paid by your partner. Your partner accepts or rejects the contribution percentage.

How can I fund my joint account?

You can fund your joint account by clicking on "Add funds" on your joint wallet and follow the prompts on your phone.

How do I withdraw from my joint account to my personal account?

Click on "Transfer funds" from your joint account and follow the prompts on your phone. Your partner will need to approve the withdrawal to complete the transfer

Save

How much can I start my savings with?

You can start your savings with ₦1,000. We do not have an upper limit so you can save as much as you want.

What type of savings plan are on Vested?

With Vested you can
1. Save towards you goal: This plan helps you save towards short and long term goals like a vacation, your rent, a new car, retirement, fun activities or others.
2. Save as a lifestyle: This plan helps you build wealth by cultivating the habit of saving daily, monthly, quarterly or yearly.

What is a safe?

Your safe is used to keep the funds that is being saved towards your saving plans.

How many savings plans can I create in my safe?

There is no limit to the number of savings plan you can create in your safe.

How long can I keep my savings with Vested?

You can keep your savings for as long as you would like to hold it and earn returns daily.

What rates of return do I earn on my savings plans?

We offer competitive returns on our savings plans. Before you create a plan, we’ll show you the current rate and the total returns you will earn.

Can I automate payment for my savings plans?

Yes, you can. For "Save towards a goal", select the plan you want to automate. Toggle on "Automate funding" to automate.
For "Save as a lifestyle", the plan is automated immediately a plan is created

Can I pause my savings?

Yes you can pause your savings anytime you want.
For "Save towards a goal", Select the plan you want to automate. Toggle on "Automate funding" to pause.
For "Save as a lifestyle", Select the plan you want to automate. Toggle on "Pause funding" to pause.

When does my saving begin to earn returns?

Your savings start to earn returns the next day after you begin saving on the Vested app and on daily basis thereafter. Your returns are posted monthly to your savings account.

Is there a breaking fee when I withdraw from my "save towards a goal" plan before maturity?

Vested is committed to help you stay true and disciplined to your goal and as such there is a penalty. Unfortunately, you lose all your returns when you withdraw your savings before meeting the set goal.

When can I withdraw my money?

You can withdraw your money anytime, but it is advisable to withdraw at the set maturity date.

How do I withdraw my money?

Withdrawing your money is simple and instant.
Select the plans you want to withdraw
Click on "Withdraw funds" and follow the prompts on your phone

Invest

What is a mutual fund?

Mutual funds provide you with access to investment markets by pooling your money with the money of several other individuals with similar investment goals.These funds are managed by professional asset or fund managers to meet certain requirements. For example, some funds are designed and managed to maximize returns and others are designed to minimize risk

How do I invest in mutual funds?

"On the Vested app, we have Conservative & Moderate mutual funds for you to invest in based on your risk appetite. To invest in mutual funds, you will need to create a portfolio and select your preferred funds. Once you’ve chosen the fund(s) you are interested in, all you need to do is buy some units of the fund(s) to have your money invested in it."

How much interest can I earn with mutual funds?

We have different fund managers on the Vested app that offer competitive rates.

How much can I start my investment with?

You can start your investment with ₦5,000 (Five thousand Naira).

What is a portfolio?

Your portfolio is the collection of mutual funds held by you.

How do I liquidate my mutual funds in my portfolio?

To liquidate your mutual funds:
Select the mutual fund you want to liquidate on your portfolio.
Sell units of funds at the current selling price.
Follow the prompts on your phone to succesfully liquidate into your wallet.
Liquidation takes 2 working days.

What is the management fee?

The management fee is a percentage the fund manager charges to manage your invested funds and ensure it earns returns. The fee is deducted from your total balance. The fee is shown for every fund featured on Vested.

What is the processing fee?

A processing fee of ₦75 is charged per fund.

Who is an asset manager?

An asset or fund manager is a professional registered with the Securities and Exchange Commission (SEC) responsible for managing and overseeing the money invested in mutual funds and ensuring it earns the highest possible return.

Transact

What type of transactions can I make on Vested?

You can schedule and pay for your bills, buy data and buy airtime from your Vested account.

Is there a transaction limit on Vested?

"Based on the Central Bank of Nigeria (CBN), a Tier 2 Account is generated when you add and verify your BVN. No transaction limit on bill payments. Airtime & data purchase of ₦20,000 daily."

How long does it take for a payment to go through?

Payments are instant.

Can I automate payments?

Yes, you can. You can schedule your airtime purchase daily, weekly, monthly and quarterly by clicking on "Automate funding".