Drip Vault
Money you set aside, paid back on a schedule you chose.
Lock the remainder of your salary out of your spendable wallet, then choose how much comes back and how often. The app pays it back for you until the vault is empty. It does not earn anything and it costs nothing.
Three steps
Lock a lump sum
After payday and your bills, put the remainder in a Drip Vault. You see the whole schedule before you confirm.
Choose the drip
Pick an amount and a day: every day, a day of the week, or a day of the month. Releases land at 6 am Lagos time.
It pays you back
Each release goes into your personal wallet until the vault is empty. The last one is whatever remains.
Changing your mind
You can cancel within 24 hours and everything returns to your wallet. After that, you can ask to withdraw: the balance comes back after 7 days, and releases carry on until then. It is free, and you can cancel the request and keep the vault running.
A wait, not a charge
The delay is the only protection. Nobody is charged for leaving early.
Allowance
A Drip Vault can also pay someone else. Choose another rafiqHQ member, add a short note such as school fees, and the vault pays that person's personal wallet on the schedule you set, until it is empty.
The same exit rule applies to you: a 24-hour cancel, then a 7-day stop request. The person receiving it can stop it at any time, and whatever is left comes back to you.
- Each payment goes to the recipient's personal wallet
- If their wallet cannot take a payment, it waits and is tried again. It is not lost
- No interest, no return and no fee
What the Drip Vault does
- It is yours alone: the money comes from your personal wallet and goes back to it, with no link to any society
- You choose how much comes back and how often: daily, weekly or monthly
- No interest, no return, no fee and no penalty: what you lock is what you get back, to the kobo
- You can cancel within 24 hours. After that, a withdrawal request takes 7 days. It's free, and you can cancel the request
- Every lock and every release is an entry on your wallet history
Sits beside your personal wallet
A Drip Vault needs a verified rafiqHQ account. It is separate from any society you belong to.