Arich FAQ

FAQ

Here you find answers to the most frequently asked questions 

Arich is helping micro retailers, Offline retailers, vendors, traders, neighborhood stores, market sellers, and kiosk owners to save a portion of their income daily through Arich Merchant App, Arich Mobile Agents, and POS neighborhood kiosks..

This a feature available on the Arich mobile application, it helps business owners build financial discipline by allowing them to save daily, weekly or monthly to meet a set target.

The savings feature is subdivided into three parts: Daily business savings, Smart goal savings, and Ajo Lock Savings.

The daily business savings a.k.a Ajo/Esusu business savings is a product of the Arich that allows business owners to set a target for a minimum of 2 months and then pay a daily contribution of as little as 1000 naira to meet the set target.

Fund your wallet, log in to your Arich account, and create a savings or investment plan for as long as you need, Save through our mobile agents. 

There are 4 major benefits.

  1. Business owners have individual account numbers from which they receive SMS alerts to ensure the safety and accountability of their funds.
  2. They get a 10% annual interest added to their saved capital.
  3. They can request a loan top-up of 50%-100% of their saved amount.
  4. Higher interest rates if saved for more than 12 months.

Then you can always pay cash to our dedicated staff agent or pos agents, they would collect the cash and save it directly to your savings plan and you would get the confirmation alert by SMS and email.

This option allows you to manually top up any amount directly to your savings plan. For example, if you set N1,000 daily and you miss a day or two, you can use the top-up option to deposit N2,000 or N3,000 at once, once it is available in your account. This is to ensure you meet up with your savings target.

You can top up as many times as you want provided you have the money in your wallet account or top up through Agents.

Yes, you can, once your savings plan is paid into your wallet you can immediately transfer to any bank account.

The smart goal savings, also known as target savings is also a savings product of Arich, unlike the daily business saving it accommodates daily, weekly, and monthly savings but we setting the target for you, 5000 daily to 10000 weekly to 10000 monthly and running for a minimum of 3 months. The longer the savings the higher the interest rate.

There are 3 major benefits

  1. Business owners have individual account numbers from which they receive SMS alerts to ensure the safety and accountability of their funds
  2. They get a 15% annual interest added to their saved capital
  3. They can request a loan top-up of 50%-100% of their saved amount

AjoLock is a fixed savings option that allows you to earn up to 15% per annum.

The AjoLock feature is one step further towards curbing the urge to touch money that you have put aside as your savings.

No, funds can only be accessed upon maturity.

There are 3 major benefits.

  1. Business owners have individual account numbers from which they receive SMS alerts to ensure the safety and accountability of their funds.
  2. They get up to 15% annual interest added to their saved capital.

No, everything is done for you automatically once you have set up your Autosave, you can simply transfer to your account number and your savings will be topped up.

Yes, you can. It is totally up to you, you can save whenever you want but recall interest is paid on the amount saved.

We WON'T automatically debit your account, an agent would reach out to you to ensure your transfer was for your backlogs before it is automatically deducted

No, aside from your interest being affected by the capital amount there is no charge for not meeting your target.

Yes, you can increase the amount you're saving at any time and you can surpass your daily target when better sales are made.

Our withdrawal method is simple.

Your funds are transferred to your account at the end of your savings or investment period automatically. Or you request for emergency Withdrawal. Emergency withdrawals apply to only Daily business and Smart savings plans. 

Yes, we do. We have unit offices close to market clusters and you can walk into any of our offices at 70 Obafemi Awolowo Way Ikeja,  3 Adekoya street Oshodi, Block E7/E8 Rauf Aregbesola Market, Iyana Ipaja Lagos. It is best to make an appointment.

Download Arich on App Store and Playstore for free

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Our Support and Sales team is available 9am-6pm. Monday-Friday to answer your queries

Email: Support@myarich.com

*Disclaimer:*
Arich Tech Limited is a financial technology platform Arich is a savings platform that enables traders save their daily earnings easily and through our mobile App and POS agents.
Before utilizing our platform, please read the following disclaimer carefully: 1. *Not a Financial Institution:* Arich is not a financial institution, bank, or credit union. We do not hold banking licenses or offer traditional banking services. Our platform serves as a facilitator for users to save and deposit funds electronically.
2. *Risk of Loss:* All savings and deposits made through our platform carry inherent risks. These risks include, but are not limited to, the potential loss of principal amount and lack of guaranteed returns. Users are encouraged to assess their risk tolerance and financial situation before using our services.
3. *Not Insured:* Funds deposited with Arich Tech Limited are not insured by any government agency. Unlike traditional bank deposits, our platform does not offer deposit insurance, such as the Nigerua Deposit Insurance Corporation Deposit Insurance Corporation (NDIC) in Nigeria. Users are solely responsible for the safety and security of their deposited funds.

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