Withdrawal & Refund Policy

This policy explains how withdrawals and refunds work on Microvest, including processing times and the early-withdrawal penalty. It forms part of, and should be read together with, our Terms of Use.

Withdrawing your savings

You can request a withdrawal of the available funds in your Microvest account at any time, subject to the rules of your chosen savings plan. Withdrawals to your linked Nigerian bank account are generally processed within a few hours, while Microvest-to-Microvest wallet transfers are immediate. If you do not have sufficient available funds to cover a requested transfer, the request will be declined. Please confirm your available balance before initiating a transfer.

Early-withdrawal penalty

Withdrawing all or part of your savings on or after the maturity date of your plan is free of charge. If you withdraw before the stated maturity date, an early-withdrawal penalty may apply. The penalty is currently 3% of the amount withdrawn. This rate is set by Microvest and configured within our systems, is displayed to you in the app at the time of withdrawal, and Microvest reserves the right to change it at any time. Some plan types may not permit early withdrawal at all. By confirming an early withdrawal, you accept the penalty rate shown to you at that time.

Failed or erroneous funding transactions

If a funding transaction fails but your card or bank account is debited, the amount is typically reversed automatically by the payment processor within the timeframe set by that processor and your bank. Where a reversal does not occur within the expected timeframe, contact us with the transaction details and we will investigate and, where appropriate, arrange for the amount to be credited to your Microvest account or refunded to the original payment source.

Refund method and timelines

Refunds are made to the original payment source or to your linked bank account. The time it takes for a refund to reflect depends on your bank and the relevant payment processor, and is outside Microvest's direct control. We are not responsible for third-party fees that may be incurred, such as fees resulting from insufficient funds in your bank account.

Disputes

If you believe a withdrawal or refund has not been handled correctly, please raise it with us through our Complaints & Dispute Resolution process so we can review and resolve it.

Requesting help

For withdrawal or refund enquiries, contact us at support@microvest.ng or call 070021212121.