Users get to earn 2% cash back on every airtime and data purchase made.
Where would the payment be charged from?
All bill payment purchases are charged from your Float account.
As long as your Float account is funded, you can purchase as much data and airtime as you want.
Can I view my payment history?
Absolutely!
You can view your payment/transaction history by clicking on the transaction history tab on
your Float Account dashboard.
How does the bill payment feature work?
Log in to the Herconomy app, click on the “Float Button”, select a network provider and enter
your mobile number.
Your mobile number will be topped up instantly and you get a 2% cashback on every purchase
added to your float account balance.
What type of bills can I pay using this feature?
You can make airtime purchases and buy data bundles.
What is the bill payment feature?
Bills Payment feature as the name implies is a feature that allows you to purchase airtime and
pay internet bills at the convenience of your mobile phones on the Herconomy app.
How can I get the Statement of Account?
To get your statement of account, click “Accounts” and “Get Account statement”. Enter the
dates of your choice and click on confirm.
You will automatically get it in your email.
Can I get a Statement of Account?
Yes, you can!
What is the least and highest amount to withdraw?
The least amount to withdraw is 2,000 naira and the highest amount to withdraw has to do with
your tiering.
Tier 1 customer: 20,000 per withdrawal and 50,000 daily.
Tier 2 customer: 100,000 per withdrawal and 200,000 daily (requires a valid means of ID)
Tier 3 customer: 1,000,000 per withdrawal and 5,000,000 daily (requires a Utility bill)
Can I change my bank account number for my withdrawals?
Yes, you can. The new bank account number must have the same name as what is on your
Herconomy account.
Simply click on settings, and click on bank and card settings. Click on withdrawal settings to
edit your bank account details.
How can I add a bank account number for my withdrawals to my Herconomy account?
Simply go on your to-do list on the app and click on add a bank account. You will be required to
input the account number and the bank name.
Why was I charged N100 when adding my card?
We charge a N100 fee to verify that the card is still active, however, the N100 is paid into your
Vault.
Why am I unable to add a card?
The card has expired.
The card has been deactivated by the bank.
The card issuer is having network issues, and you may be unable to receive OTP or complete the
transaction. Please try again later if this occurs.
What should I do to verify my BVN?
To verify your BVN, you must provide the following:
1. Your BVN
2. Your date of birth
3. The last 4 digits of the number linked to your BVN
If you can’t provide all or if any of these details are incorrect, we will be unable to verify your
BVN.
Why did my BVN verification fail?
The provided BVN number is incorrect OR
The BVN does not match your supplied Date of Birth OR
You provided the incorrect last 4 digits of the linked phone number.
Why do I need to add my BVN?
Your BVN is required to validate your identity and kick against identity theft. This ensures
another level of safety for your funds and transactions.
How do I go about the Zero interest savings?
Savers who do not want to earn interest on their savings can disable interest.
To do this, simply log into your account, go to Account >> Turn on Zero Interest savings >>
Click on Turn on and then save.
How is my interest paid and how do I claim my Interest?
Interest is accrued daily on your balance and made available from the 1st of every month when
you simply click on “Accrued Interest” on the vault and float and then click on “Claim interest”.
Ps: All claimed interest from vault and float reflects in the float wallet.
Interests
10% per annum on Vault
9% per annum on Plans
8% per annum on Float
How is payment made to plans?
Payments to plans are made via the Float or Debit Card
Can I break my plans at any time?
Yes, you can.
Simply log into your plans dashboard and select the ‘Ongoing’ option. Click on the plan you
want to break and then ‘Quick Actions’ and then break the plan. Follow the steps provided and
click on confirm.
Funds will then be sent to your Float wallet, and you can withdraw them to your bank account.
However, please note that if you break these funds before the maturity date, you will lose your
accrued interest.
How do I create/Join plans?
Log in to your plans dashboard and click on either Create a Plan or join plans and then follow
through with the required steps involved.
You can invite friends to join your public plan at any time.
What is Plans?
Plans is a feature that helps you save consistently towards a particular financial goal.
You can create a personal plan or a public plan or even join a public plan with multiple savers.
You can save for your rent, vacation, education, Japa plans or even towards starting a new
business and earn a whopping 9% interest while at it!
How do I turn off Easy-Save?
Simply go to your Vault and select the turn-off button to stop your automatic savings.
Where will the payment be deducted from?
Payments will be automatically deducted from the user’s bank card (or flex wallet) and added to
the Vault (Fixed Wallet).
How often can I automate my savings?
You can automate your savings daily, weekly, or monthly.
What is Easy-Save?
Easy-save allows you to automate payments from your bank account to your vault Herconomy
account.
Can I withdraw to my bank account directly from the vault?
No, you can’t.
Simply withdraw from your vault to your float wallet and then to your bank account from the
float.
How does vault withdrawal work?
There are 4 free set withdrawal days which are quarterly fixed and 1 adjustable withdrawal day.
If you decide to set your own adjustable withdrawal date, the next available FREE date will be
exactly 3 months from your last free withdrawal day.
Ps: Any withdrawal made outside these 5 days will attract a 2% breaking fee of the withdrawal
amount.