How to Cancel or Stop Owealth on Opay 2024

How to Cancel or Stop Owealth on Opay:

Many people who use the Opay app feel stuck with Owealth, its automatic savings plan.

It moves your money without asking, which can make you feel like you don’t have control over your cash.

This lack of control can be frustrating. You might want to stop Owealth from moving your money automatically, but you don’t know how to do it without messing up your savings.

In this guide, we’ll show you an easy way to break free from Owealth on the Opay app.

You’ll learn how to take back control of your money and manage it the way you want.

With Owealth, although it offers a good way to save and earn interest, the automatic transfers can feel like your money isn’t yours anymore.

But don’t worry – we’ll help you fix that.

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Now let’s begin by understanding…

How Does Owealth Work on Opay

Owealth is like a smart piggy bank built into the Opay app. When you put money into Owealth, it’s saved up and earns you some extra cash over time, like a little bonus. You can start with as little as ₦30, and it promises to give you back between 15% to 30% extra every year on what you save.

Here’s the catch: Owealth doesn’t just hold onto your money like a regular piggy bank. It’s programmed to automatically transfer any cash you receive straight into your Opay account into Owealth. This happens right away, without asking you first.

So, let’s say a friend sends you some money, or you get paid for a job. Boom! That cash goes straight into Owealth, even if you weren’t planning on saving it. Some people like this because it means they’re saving without having to think about it. But for others, it can feel a bit like their money is being bossed around.

But don’t worry, you’re not stuck with it. If you decide you want more control over your money and when it goes into Owealth, you can turn off this automatic transfer feature in the Opay app settings. Then you can choose when to save and when to spend, all on your own terms.

So, that’s how Owealth works on Opay.

Now let’s see how to cancel or stop Owealth on Opay.

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How to Cancel/Stop Owealth on Opay

Here is how you can cancel or stop Owealth on Opay easily:

Open your Opay application
Click the finance tab at the bottom of the screen.
Select “Owealth” to open the dashboard.
Click on “Autosave.”
Tap on “Turn Off.”
Now Confirm your decision
Owealth will be canceled.

There you have the simple steps to cancel or stop Owealth on Opay.

However, if you still have any other questions then check out the FAQs below.

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FAQs on How to Cancel or Stop Owealth on Opay

Can I cancel Owealth on Opay at any time?

Yes, you can cancel Owealth on Opay at any time by following the steps provided in the guide.

Will canceling Owealth affect my existing savings?

Canceling Owealth will not affect your existing savings. Your saved funds will remain accessible in your Opay account.

Can I resume using Owealth after canceling it?

Yes, you can resume using Owealth by re-enabling the autosave feature in the Opay app settings.

Will I lose any interest earned if I cancel Owealth?

No, canceling Owealth will not result in any loss of interest earned. Your accrued interest will remain intact.

Is there a fee for canceling Owealth?

No, there are no fees associated with canceling Owealth on Opay.

There you have the FAQs and all you need to know.

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FastNuggets on How to Cancel or Stop Owealth on Opay

Congratulations! You’ve now learned how to take control of your finances by canceling or stopping Owealth on Opay.

With these simple steps, you can manage your savings according to your preferences and financial goals.

We understand that managing money can sometimes feel overwhelming, but with tools like Owealth and the flexibility to customize its usage, you’re empowered to make informed decisions about your financial future.

We’d love to hear about your experience with Owealth or any other topics you’d like us to cover in future posts.

Leave us a comment below and let’s continue the conversation!

Don’t forget to explore more insightful articles on FastNuggets to enhance your financial literacy and share our posts with your friends and family.

Together, let’s build a community committed to financial empowerment and success.

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