You are currently viewing Best Saving Apps 2023 | Five Key Things To Consider When Choosing
Best Saving Apps 2023 | Five Key Things To Consider When Choosing

Best Saving Apps 2023 | Five Key Things To Consider When Choosing

When it comes to choosing the best saving apps in Nigeria for 2023, there are several things you need to consider before making your choice. Here, we highlight five of the most important features of a saving app and compare some of the most popular.

Five Features of Best Saving Apps

1. Easy Account Setup

The app should be easy to sign up for and allow users to quickly and easily set up their savings accounts. For example, some apps may have a lengthy or complex sign-up process, which can be frustrating for users. Others may require users to provide a lot of personal information in order to set up an account, which can be a concern for privacy. The savings app may require users to use authentication methods that are inconvenient or unfamiliar, such as setting up a security key or using a one-time code sent via text message. There are some that may not be compatible with certain devices or operating systems, which can prevent users from being able to set up an account. Technical errors or bugs in the app that prevent users from successfully setting up an account.

2. Security and reliability

A good savings app should prioritize security and provide a reliable platform for users to manage their money. If an app does not use encryption to protect your data, it can be easily accessed by hackers. Also, the best savings apps will not allow you to use weak passwords. Those that do not require you to use strong passwords are more vulnerable to hacking. Two-factor authentication adds an extra layer of security by requiring you to enter a code sent to your phone or email in addition to your password. If an app does not offer this feature, it may be easier for hackers to gain access to your account. Be wary of savings apps  that do not use secure communication protocols, it may be possible for hackers to intercept your data as it is transmitted between your device and the app. As technology and cyber threats evolve, it is important for apps to regularly update their security measures to protect against new threats. If an app is not keeping up with these updates, it may be more vulnerable to attacks. You should be able to research the apps security measures and policies, it is a red flag if the app hides these details.

Also read:
CBN Monitoring Over 6,000 BVN Over Fraud Suspicion
Resident Evil 4 Remake Still On Track For March 2023 Release
Meta Buys Smart Lens Company, Luxexcel To Make AR Glasses.

3. Budgeting tools

It can be helpful for the app to have built-in budgeting tools or integrations with popular budgeting apps, so users can track their spending and make informed decisions about their savings. Some budgeting tools may not allow you to customize categories or set specific budget limits, making it difficult to track your spending accurately. If a budgeting tool is not integrated with your bank accounts or other financial accounts, it may be difficult to get a complete picture of your financial situation. A good customer support is equally important because it can be difficult to get help if you have questions or run into issues without it.

best savings apps for budgeting
Image Source: Informi.

4. Automatic savings option

The app should offer options for automatically transferring money from a linked account into the savings account on a regular basis.

5. Easy access to funds

Users should be able to easily access their saved funds, whether through a linked debit card, mobile payments, or other convenient options. Like any other app or website, saving apps can experience outages or technical issues that prevent users from accessing their funds. Some saving apps may freeze or restrict access to your account if they suspect suspicious activity or if you violate their terms of service. If an app does not have good customer support, it can be difficult for users to resolve issues with their accounts or access their funds. Some saving apps may have limited options for withdrawing your funds, such as only allowing you to transfer money to a linked bank account or requiring you to request a check by mail. Even some of the best saving apps may charge fees for accessing or withdrawing your funds, these can reduce the overall value of your savings. So, compare charge fees to make the right decision. It can take some time for savings app transactions to be processed, which can be frustrating if you need access to your funds right away.

The Best Savings Apps in 2023

Based on the features listed above, these apps are easy to setup, have two-factor authentication security, strict budgeting plans, autosave features, and you get funds transferred instantly to a preset bank account when you want to withdraw.

  1. PiggyVest
  2. Kuda Bank
  3. Cowrywise
  4. V by VFD
  5. Carbon
  6. Sumo Trust

For your daily dose of tech, lifestyle, and trending content, make sure to follow Plat4om on Twitter @Plat4omLive, on Instagram @Plat4om, on LinkedIn at Plat4om, and on Facebook at Plat4om. You can also email us at and join our channel on Telegram at Plat4om. Finally, don’t forget to subscribe to OUR YOUTUBE CHANNEL.

Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.