A Cowrywise consumer just lately left the remark under on our Instagram and it inspired the staff.
To be sincere, I actually love your academic content material @cowrywise. I’ve learnt so much about cash out of your weekly roundup of articles in your tales and your movies as properly. – Emmanuel
Certainly one of our core values is monetary schooling and this consists of tips on how to maximize all options on the Cowrywise app on your monetary development. On this brief information, we’ll highlight the one-time generated accounts and tips on how to use them successfully.
Use one-time generated accounts to high up any plan
One-time generated accounts assist you to shortly make financial institution transfers to any of your financial savings or funding plans on Cowrywise. So whether or not it’s a financial savings plan for lease or a long-term greenback funding plan, you should use this to generate an account quantity in a couple of seconds. Nonetheless, that is very completely different out of your Stash account quantity.
Distinction between one-time generated accounts vs Stash accounts
Stash is the in-app pockets that permits you to simply transfer funds into your financial savings and funding plans. Additionally, it’s the solely means to withdraw funds out of your Cowrywise account. Whereas one-time generated accounts are used to fund plans straight.
This implies which you can solely entry these one-time accounts while you wish to high up a plan straight. The account quantity generated expires after 20 minutes, which is why you shouldn’t pay into the account after the 20 minutes time-frame. If in case you have not paid into the account after 20 minutes, kindly generate one other account quantity to pay into.
One-time generated account numbers are non permanent and shouldn’t be saved as beneficiary accounts in your financial institution app. Whereas the account numbers you’re proven on Stash are extra everlasting and as such, could also be added as a beneficiary in your financial institution app.
These non permanent accounts are solely excellent for when you should make fast financial institution transfers straight right into a financial savings or funding account.
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Conclusively:
- Don’t erroneously pay into one-time generated accounts after it expires. Neither do you have to set it as a beneficiary in your app as it’s non permanent.
- Solely your common Stash account numbers will be set as beneficiaries in your financial institution app. We’ll inform you if this ever modifications sooner or later.
- Short-term accounts expire after 20 minutes. They’ll solely be generated while you wish to straight fund your financial savings or funding plans by way of financial institution switch.
- Alternatively, you possibly can ship funds to your Stash after which fund your financial savings or investments from Stash.
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