You heard about this app and you have been looking for answers to many questions you have, here is an awesome sumotrust review.
It is not a new thing that one of the biggest startups in the world is Fintech. Nigeria is not left out. There are lots of Fintech startups that are making a name with their great ideas to make the use and transfer of money easy. SumoTrust is one of them and in this article, all the questions you have in your mind will be answered. In a situation where you still have a question which the answer was not found in this article, you can use the comment section.
What is SumoTrust/SumoBank
Did the heading confuse you? Sumobank? Yes, Sumotrust is the rebranded name of Sumobank. The name was changed on 27th of December 2019.
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SumoTrust is an automated online savings/investment app that helps people to save money easier. It helps you to manage your finance better. If you have a plan to achieve with money and you need to regulate yourself in order to save up and reach your aim, then this platform is the best for you.
Who is the founder of SumoTrust?
Sumotrust was founded by GT Igwe Chrisent and co-founded by Ossi Samuel. Both of them are entrepreneurs with good business development and marketing skills. There are other entrepreneurs who formed a great team to grow this startup, you can read more about them by clicking here
Sumotrust review– Features of the App
- High Interest returns: Sumotrust pays you higher interest.. This means that when you save money using this app, you will be getting interests up to 10% annually (0.833% monthly and 0.0277 daily). In addition,They check your account on the 1st of every month and add an interest to your total savings from the previous month. You can’t compare this to what your bank pays you. (you know more, no need to stress on that).
- No hidden fees/charges: Your account doesn’t come with any charge, no SMS fees, no withdrawal fees on the 4 withdrawal dates per year.
- You can learn and connect with other entrepreneurs: Sumotrust in partnership with Entrepreneur Platform will let you have free access to Nigeria’s largest online business academy as well as connect and collaborate with like minds.
- Partners with trusted brands: This platform partners with trusted brands like: paystack and flutterwave. Therefore, your money is in safe hands if you use the app.
- There are 4 account types: Sumotrust has Main savings account, Fixed savings/investment account which allows you to Securely lock away your money for a long period of time (up to 365 days) and earn up to 15% interest annually. Again, there is Mission savings account which you can use if you want to raise money for a particular project. Finally, there is Kick account and you can always withdraw without any fee.
How to register and start saving on SumoTrust app
Step 1: Register by clicking here
Step 2: Fill the registration form. Make sure that the account name you use matches your bank account name.
Step 3: Login using your phone number and password
Step 4: Start saving money! Now you have access to your dashboard. There you will see the different savings account types, deposit and withdraw your money.
Is SumoTrust Legit?
Yes! Sumotrust is legit. It has been in operation since August 2018 and is registered with the Corporate Affairs Commission as Private Limited Liability Company In addition, they are in partnership with Flutterwave, a well trusted third party payment processors (Flutterwave) which is Licensed by CBN and funds collected are securely settled to UBA.
In conclusion, the awesome sumotrust review above will go a long way to answer your questions. However, if you still have any question, ask in the comment section below.
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