Savings Wallet
A named wallet that holds money toward a specific goal. You can add funds manually, automate contributions via Money Plan, and withdraw at any time — there is no lock-in.
Problem it solves
Keeping goal-directed money mixed in a general account makes it easy to spend unintentionally. Savings Wallet creates a dedicated space with a visible target, so progress toward a goal is always clear.
Who uses it
Anyone saving toward a specific item or milestone — a purchase, a trip, an emergency buffer — who wants a clear progress view without restricting access to the funds.
Complete scenario
Illustrative example
Goal
Ada wants to buy a new laptop. She names a wallet "New Laptop", sets a target of ₦200,000, and makes a first manual contribution of ₦10,000.
Automated via Money Plan
She creates a Money Plan to add ₦10,000 every Friday. That plan is shown as "proposed" until approved — it does not become a confirmed contribution until the plan is active and a run completes.
Access to funds
At any point, Ada can withdraw from the Savings Wallet. There is no penalty and no minimum balance. The wallet balance is her money.
Key clarifications
How the pieces fit
vs. Protected Balances: A Savings Wallet stores money toward a goal with no release conditions. Protected Balances (coming soon) will add defined rules that must be met before funds can be used — a distinct, additional layer of restriction.
FAQs
Is the money in a Savings Wallet locked?+
No. You can withdraw from a Savings Wallet at any time. The wallet provides a named, goal-tracked space — not a restriction on access.
Does money in a Savings Wallet earn interest?+
Interest is not a stated feature of Savings Wallet. We don't want to invent a return that isn't confirmed — check current product terms for any yield information.
What's the difference between a Savings Wallet and a Protected Balance?+
A Savings Wallet is freely accessible — you save toward a goal, but can withdraw whenever you like. Protected Balances (coming soon) will add conditions that govern when and how the money can be used or released.
Can I have multiple Savings Wallets?+
Yes. Each wallet is separately named and tracked. You can run multiple goals simultaneously.
What happens if I withdraw all funds from a wallet?+
The wallet balance goes to zero and the progress resets to 0%. The wallet itself remains and you can continue contributing toward the goal.