What is CashBox?
CashBox is a secure savings platform that helps you save and control your spending habit. It is simple, safe and rewarding. You can decide to save money periodically (daily, weekly, monthly) or lock away funds for a specified tenor.
What does it cost to start using CashBox?
CashBox is absolutely FREE, all you have to do is register your profile, set a direct debit on your ATM card or save using bank transfer feature.
How much can i start with?
You can start with as low as ₦100 or as high as you want. Savings can be daily, weekly or monthly. You also have the option of saving instantly using our “Swift” savings option. The “Swift” savings type allows you add money into your CashBox account at anytime regardless of your present savings plan.
Can i withdraw my money from CashBox at any time?
CashBox is a savings platform that encourages financial discipline, so we encourage users to save money as long as possible while earning high interest on it and only withdraw when extremely necessary. Some plans do not allow withdrawal until maturity (Target, Vault, Cliques). Other plans allow users to withdraw any one time at a 5% penal charge and also on free withdrawal days set by the user at no charge, making it a maximum of two times in a quarter.
What kind of bank cards can i use on CashBox?
All bank cards are accepted.
Can i put my savings plan on hold and resume at any time?
Yes, you can decide to suspend your savings and resume whenever you feel comfortable, all this you can do through your online profile.
Can i increase my savings at any time?
Yes, you can easily do this by logging into your CashBox app and top up your balance with any amount at anytime. To change your recurring savings, edit the plan you wish to adjust and input new details.
Do i need to login every time i want to save?
No, CashBox helps you save automatically (daily, weekly or monthly) depending on the plan you choose. On your set savings day, your bank card will be debited and CashBox account credited, while you receive a receipt to that effect. Or generate your unique CashBox account number and easily make a transfer to the account from any Nigerian bank anytime you wish to save.
What if i want to save an amount different from my present savings plan?
You have the option to top up your plans. This allows you save any amount, any time you want.
What is Vault?
This is a savings plan that allows you earn interest upfront on your savings, Minimum tenor is 90 days. All you have to do is select the number of days you want your money locked away for, while you earn the interest upfront immediately.
How safe is CashBox?
Security of our savers is paramount. CashBox was built using Bank Grade security features. Your personal and card details are safe as all payments are handled through Flutterwave and Paystack which operates one of the best payment technology in the world which top companies like Uber, Booking.com, MTN, Bolt, Nairabet and many more use.
How is CashBox able to pay interest higher than my bank?
CashBox is not a traditional bank, so we do not have the high costs associated with running multiple bank branches. Also, funds are invested in short term low risk bonds, securities and investments.