FREQUENTLY ASKED QUESTIONS

WHAT IS KOLOMONI?

KOLOMONI is a mobile and web app for savings, investments and payments. It is a secure, fast, and convenient way for everyone to access savings and investment products that were otherwise reserved for the elites. Your savings and investments attract interests up to 15% per annum (exclusively on KOLOMONI). Kolomoni helps you achieve your goals through a competitive bouquet of savings, investment and payment options suited to your preferences and purpose. You get to save as much as you have and at your own pace (daily, weekly or monthly). Kolomoni also provides you with the financial discipline to stop excessive spending and plan by letting you save funds conveniently.

WHY KOLOMONI?

Kolomoni is more than just one thing; it is an array of exciting offerings that liberates you financially:

HOW CAN I GET STARTED?

Registration is easy, either on the web or the mobile app.

HOW LONG DOES THE PROCESS TAKE TO REGISTER?

Less than a minute

HOW DO YOU VERIFY MY INFORMATION FOR SECURITY REASONS?

You get a notification email to confirm every login and transactions on the app, every time.

WHAT DOCUMENTS DO I NEED TO REGISTER?

None

CAN I REFER FRIENDS?

Yes, a referral link exists on your app. Whenever you refer a friend, you earn N100 per referral after they make their first savings of at least N1000.

HOW DO I SAVE?

To start saving or investing on the Kolomoni app:

CAN I PAUSE MY AUTOMATIC SAVINGS

Yes. Simply go to your savings plan, click on settings and then change automatic debit to “manual debit”.

WHAT ARE THE AVAILABLE SAVINGS PLAN ON KOLOMONI?

I AM INTERESTED IN INVESTING, WHAT SHOULD I KNOW?

You can book your investment via the Kolomoni app and earn up to 15% interest rate per annum depending on the amount and plan. Additional features and benefits of our investment plan include:

CAN I EARN AN INCOME FROM THE KOLOMONI APP?

Yes. We call it agency banking. To become a Kolomoni agent, you need to request for a Kolomoni MPOS. You will pay an onboarding fee of N15,000 in order to acquire one Kolomoni MPOS terminal. The Kolomoni app also allows our agents to carry out transactions at lower charges and also earn commissions on every transaction:

WHAT DOES IT MEAN TO BE A SUPER AGENT

Super-agents are ambassadors of Kolomoni who have multiple agents under their purview and provide them with end-to-end operational support.

HOW CAN I BECOME A KOLOMONI SUPER AGENT?

To become a super agent with Kolomoni, you have to acquire a minimum of 10 MPOS (Mobile Point of Sales) terminals. You will be required to pay a sum of N10,000 per unit of MPOS terminals, this amount include ACTIVATION, ADMINISTRATION AND ONBOARDING fee. You will sell to agents and register them under you. However super agents must not sell to their agents for any amount more than N15,000 per unit of MPOS terminal. As a super agent, you earn a commission on all cash-out transactions carried out by your agents. You earn 0.2% commission on cash-out transactions of 0 - N10,000, 0.02% on N10,001 - N49,999 and N0.01% on N50000 and above.

HOW SAFE IS MY MONEY?

All investment assets are insured by NDIC on behalf of savers. This makes your money absolutely safe.

HOW DO I FUND MY ACCOUNT?

You can either fund your account via the following means:

HOW DO I INVEST IN FIXED DEPOSIT?

Just like savings, select the fixed deposit option from the drop-down icon and provide the necessary details which include the amount you are investing with the fixing tenure, that is the maturity date for the investment, then confirm your transaction. Note, the minimum amount you can fix is #50,000 (Fifty thousand naira).

HOW DO I WITHDRAW MY MONEY?

Provide your bank account details, enter the amount you wish to withdraw, provide the secret answer to your secret question when required, and confirm the transaction.

CAN I MAKE THIRD-PARTY TRANSFER?

No! You can only send money to an account linked to your BVN. This measure is put in place to make your account secure.

CAN I WITHDRAW MY SAVINGS OR LIQUIDATE MY INVESTMENT BEFORE THE TERMINAL DATE?

Withdrawal before terminal date is not encouraged because the Kolomoni app is designed to help you set targets and imbibe a committed saving culture. However, in exceptional cases, you can call the help contact for such withdrawals. Kindly note that you will be charged such withdrawals.

IF I FORGET MY PASSWORD, HOW DO I RETRIEVE IT?

Launch the KOLOMONI app, input your phone number or email address and click on forgot password. A password reset link will be sent to your email address.

WHAT SHOULD I DO IF MY PHONE GOT STOLEN?

KOLOMONI installed on your phone is secure, so your money will be safe. In case you misplace your phone:

WHAT IF I DON’T HAVE ACCESS TO ANOTHER SMARTPHONE?

Simple! Kindly put a call through to us stating the phone number linked to the account to avoid intrusion.

DOES KOLOMONI HAVE AN OFFICE?

Yes. Kolomoni is a product of CapitalSage Limited (RC 1507157) with offices located in Lagos, Kano and Ibadan. Click here to view addresses.

WHICH MOBILE PLATFORMS SUPPORT THE KOLOMONI APP?

Android and IOS

WHAT ARE THE BENEFITS OF THE APP?

It’s easy, you incur no additional charges, and it saves you time as you do not have to chase your account officer or wait in the bank. It doesn’t matter who you bank with; you can access our services.

HOW SECURE IS MY FUND ON KOLOMONI APP?

Your funds are 100% secured as the money saved in a National Bank’s vault. The Kolomoni app also has world-class internet security (256 bits SSL encryption) to protect your data from fraud. Also, all investments are insured by the NDIC.

WHO SHOULD I CONTACT IN CASES OF SUDDEN EVENTUALITIES?

Call the customer care number 08104386082 or send us an email to support@kolomoni.ng