Many PalmPay users in Nigeria have been asking a lots of questions about "trial cash", most especially about how to withdraw the incentives on the PalmPay App. Some of the questions people are asking goes does; "is PalmPay trial cash withdrawable?". If it's a yes, then "how can I withdraw my PalmPay's Trial Cash?"
Another questions PalmPay users are asking about trial cash is that "What is the PalmPay Trial Cash withdrawal limit and how to use the trial cash in Nigeria?" In this article, I will walk you through everything you need to know about withdrawing the trial cash incentive features on the PalmPay App.
Trial Cash on PalmPay App
PalmPay Trial Cash is money that users can earn by using the PalmPay app daily to transfer funds, pay for airtime and data, or fund their betting wallet. The money grows at a 16% annual interest rate for five days, and users can keep all of the interest earned.
However, users cannot spend the Trial Cash itself, but they can only withdraw the interest. In our previous article, we discussed better the definition of PalmPay's Trial Cash and how it works. You can read it here.
Trial Cash is earned on the PalmPay App simply by performing daily tasks and there is no limit to the amount of trial cash you can earn per day. As long as you keep completing tasks, you will continue to earn trial cash and the interest will continue to grow at 16% per annum on your PalmPay's CashBox Savings Account.
How Trial Cash works on PalmPay
PalmPay Trial Cash is an incentive program that allows new and existing users to perform daily tasks and earn small cash rewards through the tasks. In addition, when users refer a new sign up to the mobile money platform, they receive trial funds in their PalmPay account, which they can use for transactions like airtime purchases or bill payments when the trial funds' interest mature for spending.
These trial cash funds are typically not limited in the amount users can earn and can only be used within the PalmPay app to purchase bills, buy airtime and data and for transfer to another bank in Nigeria, not withdrawn as cash.
To earn and claim trial cash funds, users are to complete tasks, like inviting friends, completing daily transaction to another PalmPay user, purchasing of bills of any kind, buying data and airtime, completing your KYC, daily login and many more.
Once you login to your PalmPay app everyday, you will earn N100 trial cash funds. This approach encourages engagement and helps new users become familiar with PalmPay’s services and benefits. To earn more trial cash on PalmPay, you can perform all the tasks highlighted in the image below:
However, it's important to note that once trial cash is earned, you need to claim it so that the reward for completing your task can be added to your CashBox Savings Account on the PalmPay App where the trial cash funds earn 16% interest per annum everyday.
How to Claim Trial Cash on PalmPay
Follow these steps to claim your earned trial cash on the PalmPay App:
- Login to your PalmPay Account on the Mobile App.
- On the "Homepage", you will see any available "trial cash tasks" that's been completed. To claim it, click on the "Claim" and "Claim Trial Cash".
The trial cash will be added to CashBox Saving where it will earn 16% PA everyday. You can view your trial cash balance under the cashbox account.
Trial Cash Expiration
Does PalmPay's Trial Cash Expires? Yes, the PalmPay Trial Cash expires. If you don't claim your trial cash on time, the funds will expire on the app. So, if Trial Cash expires on the PalmPay App, how long does it takes to expire? Your PalmPay Trial Cash will expire in seven day you don't claim it. Hence, it's wise to claim your trial cash so that it can save in CashBox Account.
How to Withdraw Trial Cash from PalmPay
Withdrawing your Trial Cash on the PalmPay App is simple. All you need to do is claim your trial cash and wait for five days for the interest to mature on the CashBox Savings Account for withdrawal. Once the trial cash funds is mature for withdrawal, follow these steps to withdraw it successfully:
- Login to your PalmPay App/Account.
- Click on "CashBox" on the Homepage.
- You will see how much interest you've earned from your trial cash in the CashBox page. To click the interest, click on "Withdraw".
- Input amount you wish to withdraw. You can also withdraw by 5%, 10% and 20%.
- After choosing the amount to withdraw, click on :"Withdraw" and confirm your order by entering your PalmPay transaction PIN.
Once the withdrawal is successful, the trial cash will be withdrawn to your PalmPay Account Balance where you use it to carry out any transactions of your choice.
How to Use Trial Cash on PalmPay
Once withdrawn, you can use trial cash on the PalmPay app to:
- Carryout Inter-bank transfers within Nigeria.
- Pay bills of all kinds e.g electricity bill, pay school fees and examination fees e.t.c.
- Buy airtime and data
- Fund betting accounts
- Buy train and bus tickets
- Make business payments
- Pay In-shop via "Pay Shop" or "QR code"
In a nutshell, once the trial cash has been withdrawn to your PalmPay balance, you can use it to do anything on the mobile money app in Nigeria.
