Piggyvest Business

Learn More About Piggyvest Business

Welcome to Piggyvest Business - The Better Way to Manage Your Business Finances

ABOUT PIGGYVEST BUSINESS

Piggyvest Business is an all-in-one platform designed to help businesses grow and better manage their finances. It offers services that allow you to manage multiple business accounts, oversee different branches, order POS terminals, and transfer money seamlessly.

Business Creation

How can I create an account on Piggyvest Business?

Creating a Piggyvest Business account is a straightforward process.

  1. Visit the Piggyvest Business website.
  2. Select "Create Account."
  3. Provide essential information, including full name, email address, mobile number, business name, and a secure password.
  4. Agree to the terms and conditions.
  5. Review the provided information for accuracy.
  6. Click "Submit."

What are the Onboarding Requirements?

Here are all the documents you need to onboard as a business:

Sole Proprietorship & Partnerships

  • Business Registration Document
  • Business Owner Details (BVN, ID card)
  • Business Utility Bill

Limited Liability & Enterprise

  • Business Registration Document
  • Directors Details (BVN, ID card)
  • Shareholder Details
  • Memorandum/Article of Association
  • Business Utility Bill

  After receiving all the necessary documents, we will conduct a KYC review within 24 to 48 hours. Once this is done, you will be granted access to the PiggyVest Business dashboard.

Business Accounts

What is a Business Account?

Business accounts are specialized banking accounts designed to empower your business with the tools needed for easy and efficient financial management.

What types of business accounts exist?

Piggyvest Business provides three distinct types of business accounts, each flexible, easy to use, and tailored to meet your business’s diverse financial needs.

  • Expense Accounts
  • Savings Accounts
  • Settlement Accounts

What are Expense accounts?

Expense accounts are for managing day-to-day business expenses. They come with a unique virtual account number for easy funding and transaction tracking. You can transfer funds from an expense account to any other PiggyVest Business account or an external bank account.

What are Savings accounts?

Savings accounts are for businesses looking to grow their savings. They come with a unique virtual account number and generate interest on the funds held, allowing up to four emergency withdrawals a month before interest is forfeited.

What are Settlement accounts?

Settlement accounts are collection accounts for managing funds from various sources, such as POS transactions. The funds in these accounts are automatically transferred to a designated account after one business day, with an option for immediate transfer at an additional cost.

Branches

What is a branch?

Branches are a feature that provides your business with a digital representation of a physical store or division (also known as a branch). This enables you to seamlessly manage finances across different locations within a single dashboard.

Who can manage a branch?

The management of a branch is typically carried out by the Branch Manager, who is assigned by the Super Admin. The Super Admin has the authority to manage users, roles, and permissions within a branch and can also manage and oversee a branch.

Can each branch manage their own business account?

Yes, each branch has the capability to manage its own business account. This means that each branch can independently handle its accounts, user management, and transactions.

Can I customize roles and permissions for users in a branch?

Yes, you can customize roles and permissions for users within a branch.

Payments

How can I fund my business account?

You can fund your business account with either a bank transfer to its unique virtual account number or by transferring from another business account within your PiggyVest Business dashboard.

How can I pay out from my business account?

You can pay out from your business account by either initiating a bank transfer from your business account to an external bank account or by sending to another business account within your Piggyvest Business dashboard.

What are scheduled payments?

Scheduled Payments, also known as Standing Orders, enable you to automate and manage recurring fund transfers. There are two types of scheduled payments:

  • One Time Payments: Your business can schedule a single payment at a specific date and time in the future.
  • Recurring Payments: Your business can schedule recurring payments at different frequencies over a set period. You can set the frequency of transfers (daily, weekly, or monthly) to suit your business needs.

How do I create these scheduled payments?

You can access the scheduled payments section on the dashboard to create new scheduled payments, specifying the frequency (daily, weekly, or monthly) and the type of transfer (fixed amount or percentage of the balance).

Invoices

How can I create an invoice?

Creating an invoice is simple and straightforward:

  1. Log in to your Piggyvest Business account.
  2. Navigate to the “Invoices” section on your dashboard.
  3. Click “Create Invoice” and fill in the necessary details, including customer information, item descriptions, quantities, prices, and any applicable taxes or discounts.
  4. Review the invoice for accuracy.
  5. Send the invoice directly to your customer's email or generate a PDF for offline sharing.

Can I customize my invoices?

Yes, you can fully customize your invoices to reflect your brand identity.

  • Add your business logo
  • Customize the layout and brand colors.

Can I manage overdue invoices?

Absolutely. In the “Invoicing” section, you can track all issued invoices, see which are paid, pending, or overdue, and send reminders to customers with outstanding payments. This feature helps you stay on top of your receivables and maintain a healthy cash flow.

Is there an automatic receipt generation feature?

Yes, Piggyvest Business offers an automatic receipt generation feature. Once an invoice is paid, a receipt is automatically generated and sent to the customer. The receipt can be customized similarly to the invoice, allowing you to include your business logo and branding.

POS Terminals

What POS terminals are available?

There are two types of POS Terminals:

  • Virtual Terminal: A virtual terminal allows your business to accept in-person payments at scale and process transactions without the need for physical card processing hardware, such as a traditional card reader or terminal.
  • Physical Terminal: A physical terminal allows your business to accept and process payments from customers using their debit cards or direct transfers.

How can I order a POS terminal for my business?

Here’s how to order a POS terminal for your business:

  1. Log in to your Piggyvest Business account.
  2. Navigate to the "Request POS Terminal" section in the dashboard.
  3. Provide necessary details for the POS terminal.
  4. Enter your delivery details.
  5. Specify the Business Account to be debited for the terminal.

How do I manage the settlement of transactions from my POS terminals?

Managing settlements for transactions from your POS terminals is streamlined within the Piggyvest Business platform. In the "Settlements" section, you can configure custom settlement business accounts, create a settlement sub-account for POS terminals, and add external bank accounts.

What is the settlement duration?

T+1 days, but users also have the option to manage their settlement accounts and withdraw funds immediately at a higher fee.

Security

What is OTP?

This is a one-time password used to complete a number of processes on the Piggyvest Business platform.

Payment Approval?

Payment approval is a feature implemented to enhance control and oversight in the fund transfer process. On Piggyvest Business, it involves a two-step approval process before a transfer is completed.

How can I be sure that my account is protected?

Your Piggyvest Business account is secured through Two-Factor Authentication (2FA), providing an additional layer of protection. There are two options for 2FA: Email Verification and Authenticator App.

Explore Piggyvest Business Today

Explore Piggyvest Business today for a smarter, safer, and more efficient way to manage your business finances.