If you’re ready to start investing using the Trove app, one of the first things you’ll need to do is fund your account. Trove offers several convenient ways to deposit money into your Nigerian (NG) or USD portfolio, making it accessible to a wide range of users.
In this blog post, I’ll take you through the different funding methods available on the Trove app, making sure you have a clear understanding of each one, so you can easily decide which works best for you. But before we look at these funding options, it’s important to understand why the Trove app is such a powerful platform for investors like you.
Why Trove is a Smart Choice for Investors?
Trove app opens up the world of global stocks, and ETFs, allowing you to build a diversified portfolio from the comfort of your home with your mobile phone. Therefore, if you’re a new investor with a small budget or someone with more experience looking to diversify across global markets, the Trove app is an excellent option for buying and selling your assets.
Funding Options for Your NGN (Naira) Portfolio
1. Naira Debit Card
One of the most straightforward methods for funding your Nigerian portfolio is by using your Naira Debit Card. This option is perfect if you want to quickly transfer funds to your Nigerian portfolio without leaving the app and it offers the speed and convenience of real-time transfers.
How It Works:
- Log into your Trove account.
- Navigate to the “Wallet” section.
- Choose the Naira Debit Card option.
- Enter your card details and the amount you wish to deposit.
- Your funds should reflect in your portfolio almost immediately, allowing you to start investing right away.
2. Bank Transfer
If you’re more comfortable with traditional banking, you can choose to fund your Trove wallet through a Bank Transfer. This method allows you to move money directly from your bank account to your Trove portfolio, offering more control, especially if you prefer larger transaction limits compared to debit cards.
How It Works:
- Go to the “Wallet” section on the Trove app.
- Select the Bank Transfer option.
- You’ll be provided with Trove’s bank account details.
- Complete the transfer using your banking app or in-branch service.
Bank transfers typically take about 24 hours to reflect in your Trove account. It’s also a secure and reliable way to fund your portfolio, especially for larger amounts.
3. Paga
Another convenient and fast method for funding your Nigerian Portoflio is through Paga. This is well-known for its user-friendly interface and convenience, especially for those without easy access to banking services. This method is ideal for users who want a quick and efficient way to fund their Trove account without relying on traditional banking infrastructure.
How It Works:
- Go to the “Wallet” section of the Trove app.
- Select Paga as your preferred payment method.
- Enter the amount to transfer, and the funds will appear in your NG portfolio.
Funding Options for Your USD (Dollar) Portfolio
If you’re looking to invest in the U.S. market, Trove offers a variety of funding options for your USD portfolio as well.
1. Dollar Debit Card
You can fund your USD portfolio using a dollar-denominated debit card. This option allows you to add funds directly from your card to your U.S. investment account. It’s a convenient choice for those who have access to a dollar debit card and want to quickly transfer funds.
2. Wire Transfer
For larger transactions or more secure transfers, you can fund your USD portfolio through a wire transfer from a dollar-denominated account. This method may take a bit longer to process compared to a debit card but offers a reliable way to transfer significant amounts.
3. Fund Naira
If you do not have access to a dollar card, you can also fund your US portfolio directly in Naira. You can either use your naira debit card, bank transfer, or Paga.
FAQs
Can I Add my Nigerian Domiciliary Bank Account Details to the App?
Yes, you can. Kindly login to the app and click on the left panel to open the menu list. Select the settings tab at the bottom of the page, select profile, and scroll until you see “foreign bank account.” Fill in all the details, especially the bank address, country, Swift code, and zip code, to complete the process. Kindly ensure you are using the correct Swift code of your bank.
Read Also: Best Virtual Dollar Card in Nigeria
Conclusion
Trove’s wide range of funding options makes it easy for anyone to get started, no matter the payment method you prefer. By offering convenient, secure, and fast funding methods, Trove Finance ensures that you’re never too far away from making your next smart investment move. Choose the option that best suits your needs and start growing your wealth today!
