₦airaland Forum

Hello everyone,
Does anyone here invest with FBN quest. I noticed we weren’t paid interest for Monday and Tuesday- public holidays.

Good morning, can I use my nin to update my profile? On stanbic mmf

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Godwinosas5:
Hello everyone,
Does anyone here invest with FBN quest. I noticed we weren’t paid interest for Monday and Tuesday- public holidays.

All the fund managers have been working on the usual end of quarter things - interest payment/reinvestment and revaluation of assets plus the holidays which slow down the process.

Most of them are through and some likely by Monday. Once done every process will run normal again. Just be patient, it's not only FBNQuest.

kemshade:
Good morning, can I use my nin to update my profile? On stanbic mmf

Of course. Stanbic accepts NIN slip as means of identification and as proof of address.

In that case, the address on the NIN is what you should write as your address on the form even if your current address is different.

Rosebloom:
I noticed a substantial reduction in my balance from 31st March
What could be the cause

I made no withdrawals

In short practically my whole interest accrued for the month of March is no longer there

The experience you are having is because you opted for your accrued interest to be paid to your bank account.

The reduction is not just accrued interest in March, its for January to March. Watch out you will receive a credit alert of that same amount deducted into your registered bank account.

Those who opted for reinvestment of interest have since have their accrued interest reinvested on the 31st of March.

If you wish to change your option, send a mail to customer care that going forward you wish your accrued interest to be reinvested. It will be effected.

This is applicable to all fund managers. However, Stanbic does reinvestment of interest monthly while others quarterly but all managers pay interest quarterly stanbic inclusive.

adedapodvirus001:
Good afternoon everyone one.

Please is there anyone here that uses axa mansard for money market fund investment?

I tried to liquidate part of my investment today but I keep getting error messages like this " an error has occurred during liquidation process, please try again ". I have sent message to the customer support early this morning and I'm yet to get a response.

That could be network issues/system glitch; don't try to do it repeatedly, give it some time, If after that you still have difficulty in withdrawal, contact customer care.

emmasoft:
Of course. Stanbic accepts NIN slip as means of identification and as proof of address.

In that case, the address on the NIN is what you should write as your address on the form even if your current address is different.

Ok, so how do I go about the utility bill, the address is different

You can self modify your address on the NIMC website . That's what i did

kemshade:
Ok, so how do I go about the utility bill, the address is different

emmasoft:
The experience you are having is because you opted for your accrued interest to be paid to your bank account.

The reduction is not just accrued interest in March, its for January to March. Watch out you will receive a credit alert of that same amount deducted into your registered bank account.

Those who opted for reinvestment of interest have since have their accrued interest reinvested on the 31st of March.

If you wish to change your option, send a mail to customer care that going forward you wish your accrued interest to be reinvested. It will be effected.

This is applicable to all fund managers. However, Stanbic does reinvestment of interest monthly while others quarterly but all managers pay interest quarterly stanbic inclusive.

Are you certain about this?

eroworld:
You can self modify your address on the NIMC website . That's what i did

Ok, thank you , will it not make my nin not valid from the one with me

How good and reliable is ‘quantum zenith’ money market?

Hello, I got a mail that my quarterly interest will be paid on or before the closing time on Friday being 4th but up till now, no alerts…please who has gotten or is it just me ?

Mrajah231:
Hello, I got a mail that my quarterly interest will be paid on or before the closing time on Friday being 4th but up till now, no alerts…please who has gotten or is it just me ?

Me too, I got a mail from stanbic mmf to be paid my quarterly interest before or on the 4th which was yesterday, up till now no alert. I don't know why they sent such mail when they know they won't pay before or on the said date.

jayce232:
Me too, I got a mail from stanbic mmf to be paid my quarterly interest before or on the 4th which was yesterday, up till now no alert. I don't know why they sent such mail when they know they won't pay before or on the said date.

Let’s hope next week, let me know when you get

Good morning. I noticed a redemption limit of 5m and a bit confused. Does this mean i can only withdraw 5m at a time irrespective of my balance? There is also a minimum redemption limit. What if my account doesnt have up to that? Does this apply per instrument/asset class or the entire portfolio?

Can anyone log into their FBN account? I can't log in, not on the app or website.

Godwinosas5:
Hello everyone,
Does anyone here invest with FBN quest. I noticed we weren’t paid interest for Monday and Tuesday- public holidays.

See the following pages https://www.nairaland.com/1912965/mutual-funds/357#134828677 and this https://www.nairaland.com/1912965/mutual-funds/357#134837776 for what might be happening.

Hopefully, this coming week starting from Monday 7th April 2025, things would begin to cool down and normalize

234ng44uk:
Can anyone log into their FBN account? I can't log in, not on the app or website.

Probably a tgemporary network issue. Give them time and try again

jayce232:
Me too, I got a mail from stanbic mmf to be paid my quarterly interest before or on the 4th which was yesterday, up till now no alert. I don't know why they sent such mail when they know they won't pay before or on the said date.

I have received

Preator:
Good morning. I noticed a redemption limit of 5m and a bit confused. Does this mean i can only withdraw 5m at a time irrespective of my balance? There is also a minimum redemption limit. What if my account doesnt have up to that? Does this apply per instrument/asset class or the entire portfolio?

I want to assume you mean for stanbic mmf

On the app redemption limit is 1m
On web portal 5m
Above 5m use the redemption form, this has no limit

Mrajah231:
I have received

Me too thanks

emmasoft:
I want to assume you mean for stanbic mmf

On the app redemption limit is 1m
On web portal 5m
Above 5m use the redemption form, this has no limit

Many thanks boss. Very clear

Godwinosas5:
Hello everyone,
Does anyone here invest with FBN quest. I noticed we weren’t paid interest for Monday and Tuesday- public holidays.

Are you able to access your account? I can't login here.

I think it is a general issue.
The app has been down since the weekend

234ng44uk:
Are you able to access your account? I can't login here.

234ng44uk:
Are you able to access your account? I can't login here.

I have not....Guess it's a general thing

enque:
I think it is a general issue.
The app has been down since the weekend

Okay, thanks for confirming. The least they could do is send a "service unavailable" email or post it on their website.

Has anyone else tried opening an MMF account with first bank asset management of recent? I have been trying to open an account since on 25th of March, my account is still not ready. I'm like why should an account opening be taking this long. ..

One good side is that they respond to email quite fast but just robotic reply with no result.

Lol
My sister's fbn mmf account took 2 weeks to set up.

Pierce008:
Has anyone else tried opening an MMF account with first bank asset management of recent? I have been trying to open an account since on 25th of March, my account is still not ready. I'm like why should an account opening be taking this long. ..

One good side is that they respond to email quite fast but just robotic reply with no result.

enque:
Lol
My sister's fbn mmf account took 2 weeks to set up.

Wow
Wanted to just give up on them o and try another one. Guess I will just wait till this week runs out.
Thank you 😊

Pierce008:
Has anyone else tried opening an MMF account with first bank asset management of recent? I have been trying to open an account since on 25th of March, my account is still not ready. I'm like why should an account opening be taking this long. ..

One good side is that they respond to email quite fast but just robotic reply with no result.

Before going through all these stress, hope you got account with the likes of Stanbic IBTC, Norrenberger, etc ?

Pierce008:
Wow
Wanted to just give up on them o and try another one. Guess I will just wait till this week runs out.
Thank you 😊

Are you doing it online yourself or you went to the bank ?