₦airaland Forum

Interest Reinvestment

For those who have account with stanbic, and not sure of the option you pick on the utilzation of your interest, check your account now, you will see your gain/interest for May have been reinvested.
That means your option was reinvest interest.
If you can't see this subscription it means your choice was interest pay out, that means your accrued interest for the second quarter will be paid at the end of June,between 1st to 7th July.

If you wish to change your option, send a mail to customer care to that effect.

SlahJoe:
Thanks for your enlightenment sir, please is it possible to setup automatic subscription on specific date monthly on Stanbic mmf

Yes, very possible on the new platform ie BluNest.
As you login, go to auto invest and follow the prompt. You will be asked the details that will enable the auto invest based on your choice.

Kingzy4pep:
Been using stanbic but have you ever done a transaction before 12 and didn't get credited. Just wondering what's gone wrong with the top up I did yesterday.

It depends on the top up method.

If you used debit card, it's two working g days.
If you didn't state your e-account number and evidence not sent it can cause delay.
A glitch on the system from the bank or fund managers could also be cause of delay.

Give them a call by Monday if your fund didn't reflect before then.

Things to consider or look for

For anyone new or experienced investor in mutual funds generally and MMF in particular, look out for the following

Fund manager
Trustees
Custodian bank not related to fund manager
Government control/regulation through the SEC.

Any firm or product that meet up the above cretaria can be engaged irrespective of the popularity.

Please note that the risk associated with your investment is not connected to the fund manager rather it's on the nature of the fund.

For example MMF will always be a low risk investment and fixed income fund and equity fund remains medium and high risk investment irrespective of the firm managing the fund.

Let's also understand that your investment is not safer with a fund manager in the same group or holding company with a commercial bank than with the one that is stand alone.

Most of the decisions investors make regarding the firm to invest with has to do with personal opinions and values in terms of rate, customer service, easy of app and web portal navigation etc.

I canvass for Stanbic and Norrenberger because I'm a customer and a rep with them, and I make services to customers faster to a large extent not necessarily because others are bad.

So while it's good to do your due diligence don't waste much time when it comes to MMF whether a firm just started out or has been in business for decades your investment has same level of risk associated with it.

For more tips on mutual funds and stock get in touch with the number on my signature.

temi4fash:
Hello,

Please i need help, I have not being getting any dividends on my shares.

I bought all of them through Morgan Capital, i have sent a mail to them a couple of times but they dont respond to me?

is it that my shares is too small to be paid dividends or Did i do something wrong?

Thank you

You're not receiving dividends has nothing to do with Morgan, even though, as a stockbroking firm, they could help for a fee, you can get your dividend by completing the e-dividend mandate forms from the various registrars handling the companies you have holdings in.

Get in touch with the registrars and all your unclaimed dividend issues will be resolved.

Deluxe8000:
Please house, I am a newbie in mutual fund with stanbic. Please what is their rate for the mutual fund? Will I be paid monthly? How can I go about it given that I only have gtb.

The bank account you operate doesn't matter. You can open a stanbic MMF account right away.

Click the first link on my signature and click on Buy Now to complete the online form,

You need a passport photo, govt. issued ID card and a utility bill that bears your name.

You can use your NIN slip in place of a utility bill that bears your name.
Currently, the rate is 20.39%

Interest is reinvested monthly but paid quarterly.

You can chat with me if you need further guidance.

OBAGADAFFI:
Not true, Most Brokers support NASD.
But you have the mail to execute any trade.

@OBAGADAFFI it's the same thing I just said. Stockbroking firms have access but what he's asking is for investors to have access the way they do on NGX through brokers platforms.

For now investors can either send mandates to stockbrokers or register on the NASD app to trade.

Valthegreat:
Please which brokers can I use to buy stocks on NASD exchange? I have tried Morgan but their itrade platform only has NGX option.

You can't have access to the NASD trading platform through any broker for now. NASD is not like NGX. To trade on your own on NASD, you will need to download their app and register with your NASD details from the stockbroker you have an account with. They will link you up to the trading platform using the app after confirmation that you have an active account with a stockbroker that trades on NASD. Otherwise you will need to send your purchase/sale mandates to the stockbroker who will trade on your behalf.

nickae:
Thanks @freeman67 @Preator @emmasoft, I will fill the form without printing. Do I send to you @emmasoft?
Lastly, if I make an investment in mutual funds for 1million in BluNest with 20% interest, do it mean I'll be getting 20% of 1million / 12 months, (200,000/12) which is about 16k monthly?

You can send the completed form to me.

nickae:
Thanks for clarification, but the domiciliary account can be with any other bank not necessarily Stanbic IBTC?
Also the pdf form you posted for norrenberger, can the registration not be done online? Am currently in a location without a printer.

Yes, you can do as @freeman67 said if you wish to fill the form without printing. The dom account can be in any bank. Please note the advice of @Preator because of the charges. For Norrenberger, their dollar collection account is with Stanbic Bank, and you can actually walk into the banking hall and deposit your dollar cash.
For another method that will not require printing, you can chat with me. My number is on my signature.

nickae:
Hello Emma, do I need a domiciliary account for dollar fund investment in blunest or norrenberger?

Yes, a domiciliary account is needed. You need it when you want to make partial or full redemption of your funds and for your interest payment in case you didn't pick reinvestment of interest.

Benagro:
With the good thing I have been reading here it seems I will port from gtmf to Norrenberger

It's not a bad idea. You will be sure to get excellent service and a good rate.

Find the account opening form for Norrenberger MMF attached.

You can also chat with me if you need details.

stokfrick:
Pls I want to sell my Treasury bills I bought on the secondary market with stanbic secondary market. I've only stayed for 1 month but the total duration was supposed to be for 5 months. I need to redeem the money for an urgent need.

Pls are there going to be any deductions from my money and pls at what rate.
I'll appreciate anyone with info or past experience on this

Of course there will be deductions.
This is one of the reasons I prefer MMF to TBills. Easy entry and exit. MMF is good to be used as emergency fund not TBills.

They are both good low risk investment but most times they serve different purposes.

nickae:
Can anyone tell how long it takes to upgrade from basic to premium in blunest, I.e. stanbicassets, mine is taking over 3 days

Once you submit all required kyc documents and it pass through compliance team it can be same day, there is no specific time attached. Ordinarily within three working days, it should be concluded all things being equal.

tempest12:
Please how do I navigate norrenberger app to see the daily ROI percentage

Login to your account using the app you will see everything.
On the web portal, click on statement, all your transactions will be listed and the accrued interest

IchKampf:
@emmasoft, many thanks for your informative posts on this thread. I have a question, to limit fees how can I deposit funds in my Nörrenberger MMF account, except via the Flutterwave platform? Thanks in advance

@IchKampf thank you for your kind words. To avoid extra charges, you can fund your account using their UBA collection account and use your name as narration. You can always send the evidence to customer care for a quick trace of deposited funds.

Funding through your MMF account online will always involve a third-party payment gateway like Flutterwave or Interswitch, which will make you pay extra charges.

Chat me up or send a mail to customer care to get the collection account, or better still, check below the attached account opening form, the collection account is there.

Flash83:
How long does it take invested amount to reflect? I invested over the weekend.

If you invest on a non business day or anytime after noon on a businessday, you will have value and your capital reflects the next business day. If done before noon on a business day, it reflects and you have value same day after COB.

Anything otherwise could be a glitch or something that has to do with method of funding your MMF account

Locotrader:
Emmasoft is one of their Freelancer agents here.
I will be happy to hear from him in the presence of this respected members of this thread.
I am ready to take it up from here based on what I hear from him.

@Loco have read your post and comments from others, and sincerely, it's my first time to know about the restriction. Perhaps the clients I introduced have not placed such a single trade.

However, I contacted one of the management on the matter, and was told that it was placed on all customers' accounts as a measure to safeguard their accounts based on some ugly experiences that they had with some accounts. SEC is aware, too.

It was also clearly stated that any client/customer who wants to place a single trade of such amount is free to do so after instructing that his/her account should be expanded without any restriction.

So if you wish or know that in the course of your trade, you can place such a quantity or more on a single trade, you are free to do so.

On the issue of commission, it's very flexible. It depends on the amount involved. As we speak, there are customers for whom negotiation of less than 1% commission is used. It all depends on your volume. Commission can always be negotiated.

Please note that Ione is there for you and promises good and excellent service always, and your patronage is appreciated anytime.

Thank you.


PS. I beg make una help my ministry o, open your account and trade without tears!

Flash83:
THANKS FOR THIS. I FUNDED MY WALLET BY TRANSFERRING TO MY PERSONALISED STANBIC ACCOUNT.
CAN I GO AHEAD AND INVEST?
WHAT DO I HAVE TO DO TO MAKE SURE MY INTEREST IS RE-INVESTED?

Yes, go ahead, click invest now and follow through, you will be directed to fund your MMF account and pick fund from wallet.

Once that is done just wait and your money will reflect later.

By default your interest will be reinvested except you picked otherwise during registration.

You will know this, when you see a subscription transaction of your accrued interest at the end of each month otherwise, you will get credit alert of your accrued interest into your back account at the end of each quarter.

Foodempire:
Pls how can I can fund my stanbic money market account without going to stanbic bank? Do they have an account number one can transfer to like fbnquest does?, if yes kindly share the account number. Thanks.

There are two ways to fund your account with the upgrade to the BluNest platform.

When you login to your account, generate a personalized Stanbic wallet account through which you can fund your MMF or make a transfer to their collection account, usually a UBA bank account, using your e-account number as your narration. You don't need to be in a Stanbic bank to fund your MMF account, except if you have an account with them and you decide to use the banking hall.

oyekan1997:
I tried to deposit some money into the Stanbic MMF’s UBA collection account earlier today, but the transaction was reversed and the system says “beneficiary account not available”. What is going on, please?

That is bank network issues. Most times such error messages is inter bank problems. Try again or make a transfer with another bank.
First Bank does that a lot from experience, it seems its network with UBA always encounter issues during transfer.

Tolu2024:
22.6% look interesting 🤨
Can they give loan with your MMF?

No, they don't.

Gbengstar:
I made a transfer to Stanbic IBTC virtual account and used the fund to top up mutual funds subscription since 8th of May and up till now it has not reflected on my mutual funds asset balance.

I have called their customer care thrice now and yet nothing has been done about it and no reasonable reason from them on why there is a delay.

Please what else can I do? I don't want to lose my investment

Sorry about your experience. One thing I'm sure about. You will never lose your investment.

I believe this transition to blunest is causing some glitches.

Personally I still prefer the traditional way of top up by make use of their UBA collection account and using my e-account number as narration.

Just keep calling the customer care they will resolve it.

simplebb:
Please can someone help me with Stanbic MMF customer care number, a transaction since 8th of May is yet to reflect in my account. All the mails I have sent didn’t get any response.

cc: @emmasoft

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I dey try avoid ban o