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How does the account work?

Breastmilk Money is offered as a savings vault or “sub account” for Herconomy account holders who breastfeed. A monthly auto-debit function transfers a fixed amount (calculated based on the baby formula budget) from the main account to the sub account, where it accrues interest at a rate of 14.3%.

Where is the money transferred from?

The money is transferred from the user’s main account to the sub account. Interested mothers must sign up for an account with Herconomy before signing up for the sub account.

How is the monthly deposit amount calculated?

We’ve developed our own custom savings calculator that considers key factors such as your baby’s age, feeding patterns, breastfeeding duration, and formula prices. This allows us to provide a more accurate estimate of potential savings based on real consumption data. However, you have full control and can adjust your deposit amount as needed.

Can the deposit amount be adjusted?

The monthly deposit can be adjusted by the mother based on changes to the infant’s feeding needs.

What if I don’t have a steady income? Can I still participate?

Yes! The deposit amount is flexible, and you can adjust it based on your financial situation.

Are there any withdrawal limitations?

Mothers can withdraw from the account when the infant is 2 years old, which aligns with the WHO-recommended breastfeeding period. The goal is to invest in long-term benefits for the child’s future, rather than simply spending the money saved on formula.

What if I need to access my savings in case of an emergency?

While our goal is to help you build savings over two years for maximum growth, we understand that emergencies can’t wait. That’s why you can access your funds at any time with a small penalty fee. It’s a way to stay committed to the bigger picture, while still giving you flexibility when you really need it.

What is Herconomy’s message for women who don’t breastfeed?

There are many reasons why some mothers may not breastfeed, and Herconomy fully supports every mother’s right to make her own decision. This particular product is designed to support mothers who choose to breastfeed in a culture that may discourage them. Herconomy also offers a variety of other financial products for women, regardless of their choices, because every decision should be theirs to make. If you are having problems with breastfeeding, support from a lactation consultant can sometimes help. Please reach out to us if you want us to connect you to our trusted partners for that.

How can I sign up for an account?

Thank you for your interest! You can start by signing up for a bank account with Herconomy. If you’re already a Herconomy user, simply add “Breastmilk Money” as a sub-account.

Is this account available worldwide?

At the moment, Herconomy is based in Nigeria, and our banking services are limited to that region.

How can Herconomy provide such a great interest rate?

In Nigeria, interest rates on savings and investment accounts are generally much higher than in Europe or the U.S. due to economic factors like inflation and central bank policies. Herconomy leverages government-backed investment opportunities and strategic financial instruments to provide a competitive 14.3% interest rate while ensuring the security of your savings.

How do you know if I’m really breastfeeding and not just pretending?

We don’t track or verify your feeding choices—this is about empowerment, not policing. Saving money is always beneficial, and if this initiative encourages you to learn more about the benefits of breastfeeding, that’s a win—whether you ultimately breastfeed or not.

Can mothers who don’t breastfeed participate in the campaign?

This specific campaign is designed to support breastfeeding mothers, but Herconomy offers other savings plans that might be a great fit for you, such as Kiddosave.