Fees: There are no bank charges or Mobile Money charges for transferring money to your Pennysmart account. We only charge you withdrawal fees as compared to the account maintenance fees, ATM charges, internet & SMS banking fees, bank transfer fees by the Bank. Those were draining us chale, it was too much that was why we decided to build Pennysmart. We were tired.

Interest: The banks give you at most 6% per annum and with inflation at 7.9%(January 2020), we can both agree you are already losing value for money. We give you up to 14% interest on your savings because it’s the most logical thing to do. We don’t spend a lot on operations, we are a small team and we don’t have branches. So all the profit that the banks are absorbing to pay their employees, we believe that money is yours so you should have it back.

Automation: Life is too short and we know you are busy so we won’t ask you to come to the bank in this hot global warming era to queue before you can withdraw or deposit your money, we won’t ask you to set reminders on your phone to save. All we ask is tell us what you want to achieve today and  we will handle the rest. We see ourselves as worker bees and drones built to serve you, our Queen Bee. Be it daily, weekly or monthly we will automate your monetary goals to enable you achieve them faster.

Built for Young People by Young People: We don’t care whether you wear a suit or broni wawu (thrift clothes), to us, everyone's the same. We all have a bright future worth working and fighting for. So like how the banks allow people in suits to skip queues and get priority we built our technology to give everyone priority. We are like you, we wear shredded jeans, we have dreaded hair, we wear Jordans and we also listen to La Meme Gang & Kwesi Arthur. We know what you want and need, we think like you.

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