Your money on Cowrywise, particularly funds held in a savings plan, is automatically unlocked once your plan reaches its set maturity date. You do not need to perform any manual action to access your funds at this point.
Understanding the Automatic Unlocking Process
Cowrywise savings plans are designed with specific maturity dates. When your plan reaches this pre-determined date, the system automatically makes your funds accessible. This process ensures that your money is available to you right on schedule, based on the terms you initially set for your savings goal.
Key Unlocking Details
The unlocking process is straightforward and happens without manual intervention. Here's a quick overview:
| Aspect | Details |
|---|---|
| Trigger | Your savings plan reaches its specified maturity date. |
| Action | Funds are automatically unlocked by the Cowrywise system. |
| Timing | The unlocking process typically begins from 12:10 a.m. onwards on the maturity date. |
| Result | Your funds become available for withdrawal or re-investment. |
What Happens After Unlocking?
Once your savings plan matures and is unlocked, the funds are typically moved to your Cowrywise dashboard or a designated wallet, making them readily available. You then have the flexibility to:
- Withdraw Funds: Transfer the unlocked money to your linked bank account.
- Re-invest: Start a new savings plan or invest in other available products on Cowrywise to continue growing your wealth.
- Allocate to another goal: Use the funds for a different financial objective.
Managing Your Savings Plans on Cowrywise
To effectively manage your funds and know when they will be unlocked, it's crucial to be aware of the maturity dates for each of your savings plans.
- Check Maturity Dates: Regularly review your active savings plans within your Cowrywise account to confirm their respective maturity dates. This helps you anticipate when your funds will become available. You can usually find this information in the details section of each plan on your dashboard.
- Plan Your Next Steps: Knowing your maturity dates allows you to plan whether you'll need the funds for immediate use, wish to re-invest them, or want to explore other financial opportunities.
For more detailed information on your specific plans, you can always refer to your Cowrywise dashboard or the official Cowrywise Help Center.
