What are the differences between Rewards & Naira Wallets?
Your Rewards Wallet is a digital wallet where all your earnings on the Lumi platform are stored. Anytime you participate in activities like paying bills, shopping for your favourite products, taking surveys or referring your friends, you get rewarded with points. These points are automatically converted to cash and they are saved in your rewards wallets for you. Depending on your level as a user, you can convert the cash into airtime or withdraw it to your Naira bank account.
Although everyone can buy airtime and make purchases from the Rewards wallet no matter their level, only Silver members and above can withdraw the cash from their wallet into a bank account.
Features of Lumi Reward Wallet
If you have cash in your reward wallet, you can use it to buy data, airtime and other items.
You can withdraw the cash in your rewards wallet to any bank account in Nigeria
You have to be verified to claim the rewards in this wallet.
You cannot fund this wallet.
The only means to have funds in this account is to earn points by taking part in different activities, such as surveys, buying airtime, data, or paying bills with your Naira Wallet.
The points you earn get converted automatically to cash in Naira and is saved in your Rewards Wallet.
Only silver members and above can make withdrawals from this wallet.
This wallet can be used to make all types of purchases on the platform.
Naira Wallet
Lumi Naira Wallet, on the other hand, is a digital wallet in which you can save your money. You can fund this wallet through a bank transfer, USSD, or your ATM card. The funds in this wallet can be used to make purchases on the Lumi Rewards platform. You can buy airtime, data, and pay your bills. The major difference here is that anytime you spend from your Naira Wallet on Lumi, you will be rewarded with points that are automatically converted to cash in your Reward Wallet.
Features of Lumi Naira Wallet
The only way to have money in this wallet is by funding it through bank transfers, USSD, or your ATM card
Every time you make a purchase on Lumi using your Naira wallet, you will be rewarded with points, which get converted to cash in your Reward Wallet
You can fund your Naira Wallet to make purchases like buying Data and Airtime or paying your Dstv and electricity bill
You can withdraw your money from this wallet into your bank account (Processing fee applies)
You need to be verified ( With Driver's license, Voter's card or NIN Document) to fund or withdraw money from this wallet
All types of members can make cash withdrawals from this wallet
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