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Frequently asked questions

If your question is not here, contact SWM and a representative will answer it directly.

What is my SWM code and why does it matter?: It is your permanent identifier, for example SWM009. Staff type it to find you instantly, see which group you are in and what you owe today. It never changes, even if you join more groups.
What charges will I pay?: There are three, and they are always shown separately. A 3% management charge on each contribution, a 5% late payment charge only if you miss a due date, and a one-time ₦2,000 registration charge when you join.
Can I pay the management charge at payout instead of every month?: Yes. Your membership records which option you chose. If you defer it, the unpaid management charge is deducted from your payout, and the deduction is itemised on the payout record.
What happens if I pay late?: A separate late charge is raised. It never increases your contribution amount, and the two are always shown on different lines. If you pay part of what you owe, the system records exactly which balance the money went to.
What if I pay less than the full amount?: Partial payments are accepted where the group allows them. The receipt shows precisely how your money was applied, and the remaining balance stays visible on your account.
How do I know when I will be paid?: Your payout position and scheduled date are set when you join and shown in your member portal. Reaching that date does not release money on its own: a member of staff has to confirm the payout, and large payouts need a second approver.
Can SWM change a payment after it is recorded?: No one can silently edit or delete a posted payment. A correction is made by posting a reversal with a stated reason, and both the original and the reversal stay in your history.
Can other members see my details?: No. You see your own contributions, charges and payouts. Other members see the group progress, not your name, your balance or your bank details.
Do I get proof of my payments?: Every payment produces a receipt showing the amount, the split, the method, the date and the staff member who recorded it. You can download your full statement at any time.

If your question is not here, contact SWM and a representative will answer it directly.

What is my SWM code and why does it matter?

It is your permanent identifier, for example SWM009. Staff type it to find you instantly, see which group you are in and what you owe today. It never changes, even if you join more groups.

What charges will I pay?

There are three, and they are always shown separately. A 3% management charge on each contribution, a 5% late payment charge only if you miss a due date, and a one-time ₦2,000 registration charge when you join.

Can I pay the management charge at payout instead of every month?

Yes. Your membership records which option you chose. If you defer it, the unpaid management charge is deducted from your payout, and the deduction is itemised on the payout record.

What happens if I pay late?

A separate late charge is raised. It never increases your contribution amount, and the two are always shown on different lines. If you pay part of what you owe, the system records exactly which balance the money went to.

What if I pay less than the full amount?

Partial payments are accepted where the group allows them. The receipt shows precisely how your money was applied, and the remaining balance stays visible on your account.

How do I know when I will be paid?

Your payout position and scheduled date are set when you join and shown in your member portal. Reaching that date does not release money on its own: a member of staff has to confirm the payout, and large payouts need a second approver.

Can SWM change a payment after it is recorded?

No one can silently edit or delete a posted payment. A correction is made by posting a reversal with a stated reason, and both the original and the reversal stay in your history.

Can other members see my details?

No. You see your own contributions, charges and payouts. Other members see the group progress, not your name, your balance or your bank details.

Do I get proof of my payments?

Every payment produces a receipt showing the amount, the split, the method, the date and the staff member who recorded it. You can download your full statement at any time.