Vested (2024)

Frequently Asked Questions

General

What is Vested?

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

How is Vested different from traditional banks?

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

How do I open an account?

It only take a few minutes to Get Vested. You can download themobile app on Google Play (for Android) or the App Store (foriPhone) 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 yourdashboard to see all your personal and joint accountactivities. You can also view your account statement for aspecific 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 onhttps://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 inmind. Customer data is securely stored and encrypted to PCIDSS(Payment Card Industry Data Security Standard) compliantstandards.

Are my card details safe?

Yes. We work with a PCIDSS-compliant payment processor whichhandles all our customers’ card details. This means that yourcard information are not stored with Vested. The PCIDSS is astandard 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 youagainst identity theft. We do this by matching your detailswith the information on the national BVN database owned by theCentral Bank.

How safe is my money?

All saved funds are warehoused with a CBN licenced depositbank in Nigeria. Mutual funds products purchased on ourplatfom are transfered to respective asset managementorganizations 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 addnumbers before or after your desired username and non numeric characters (: ! @ # & ( ) – [ { } ] : ; ', ? / *) afteryour desired name. Example: if you would like the username Susan but it has been claimed, consider selecting a name likeSusan3 or Susan_ or Susan-5.

What if I forgot my password?

1. Vested Overview:

What is Vested?
- Vested is an intuitive app providing seamless personal and joint financial solutions, including budgeting, transactions, savings, and investment.
Distinguishing Features:
- Customizable features not typically offered by traditional banks.
- Allows individuals or partners to build wealth according to their preferences.
Account Opening:
- Quick account opening process through the mobile app (available on Google Play and the App Store).
Fees:
- No charges on Vested accounts and savings.
- Minimal processing fees for investments and transactions through payment partners.
Debit Cards:
- Accepts debit cards issued by all Nigerian banks.
Minimum Balance:
- No minimum account balance requirement.
Account Statements:
- Users can access account statements for personal and joint accounts at no cost.
Customer Support:
- Support available through the dashboard, email, social media, and the website.

2. Safety & Security:

Data Security:
- Vested prioritizes the security of customer information, with data stored and encrypted according to PCI DSS standards.
Card Details:
- Card details are safe due to collaboration with a PCI DSS-compliant payment processor.
BVN (Bank Verification Number):
- BVN is used to verify identity and protect against identity theft by matching details with the national BVN database.
Fund Security:
- Saved funds are stored with a CBN-licensed deposit bank, and mutual fund products are transferred to licensed asset management organizations.

3. Accessing Vested:

Username Selection:
- Tips on creating a unique username if the desired one is already taken.
Password Reset:
- Process for password reset through the app.

4. Connected Experience:

Family Wealth:
- Helps manage everyday and long-term finances with a partner.
- Allows the formation of a money team for shared financial goals.
Partner Wealth:
- Enables the setup of group accounts for partnerships.
- Supports group savings, investments, and transactions.
Inviting Partners:
- Instructions on inviting partners to join Vested.
Managing Partners:
- Limitations on changing partners once set up.
- Family wealth limited to 2 users, while partner wealth supports 2-5 users.
Transaction Privacy:
- Partners can only see joint account transactions, not personal account transactions.
Money Splitting:
- Ability to split money with a partner by adjusting contribution percentages.
Account Funding and Withdrawal:
- Procedures for funding and withdrawing from joint accounts.

5. Save:

Savings Plans:
- Options for saving towards goals or building wealth as a lifestyle.
Safe and Savings Duration:
- Explanation of the safe used to keep funds and the flexibility of savings duration.
Returns and Automation:
- Competitive returns on savings plans.
- Automation options for funding and pausing savings plans.
Withdrawal and Breaking Fee:
- Flexibility in withdrawing savings.
- Breaking fee incurred when withdrawing from a goal plan before maturity.

6. Invest:

Mutual Funds:
- Definition of mutual funds and their role in investment markets.
Investing Process:
- Availability of Conservative & Moderate mutual funds.
- Steps to create a portfolio and invest in preferred funds.
Investment Amount and Portfolio Management:
- Minimum investment amount.
- Explanation of a portfolio and liquidation process.
Fees and Fund Managers:
- Management and processing fees.
- Role and definition of asset or fund managers.

7. Transact:

Transaction Types:
- Ability to schedule and pay bills, buy data, and purchase airtime.
Transaction Limits and Speed:
- Information on transaction limits and instant payment processing.
Automation of Payments:
- Option to automate airtime purchases on a scheduled basis.

In conclusion, Vested appears to be a comprehensive financial app offering a range of features, emphasizing security, flexibility, and a connected experience for users and partners alike.