How does DropHive work?
DropHive automates your savings by letting you set up goals toward the things you want, once your goal is completed we transfers your saved funds from your DropHive account to your connected bank account.
Is DropHive safe?
Your personal data is always encrypted between the DropHive interface and our servers. Your personal information is anonymized, encrypted and securely stored. All funds are not held within DropHive, they are saved up in a segregated account with our partner bank.
Are you a bank?
We're not a bank. We're a technology service provider designed and operated to help our users save money for the things they want. We do have a banking partner where all money you save is held and insured. Your private information is also protected by bank level security.
How long does it take to withdraw money from my Goals?
A withdrawal will take one business day. It will become available in your linked bank account on the second business day after the withdrawal was initiated. Business days do not include holidays or weekends.
What if I need to change my debit card details?
If you need to change your debit card details, get in touch with our customer support team and we’ll work with you to get it done.
If DropHive is free, how do you make money?
We make money by accruing interest on the savings we hold for you, just like a traditional bank.
Does DropHive work with banks located outside Nigeria?
Unfortunately, DropHive is available only in Nigeria right now. We have hopes to expand internationally in the future.
Who can use DropHive?
Anyone who holds a bank account with a Nigerian banking institution. As of now, we're only available to residents of Nigeria.