₦airaland Forum

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

I'm doing it via online (email).

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

Already have an account with Stanbic. Just needed a second option, thought I should go with FB Asset management.

As for Norrenberger, I just don't know yet

Pls is there anyone here with ARM MMF? I will like to compare the rates

Thomaths:
Pls is there anyone here with ARM MMF? I will like to compare the rates

ARM mmf rate as at today is 22.21%

eben123:
ARM mmf rate as at today is 22.21%

Something seems not to be alright with how they apply the rate then. Once a deposit reflect on the account, how long does it take them to apply the rate on it? Isn't that suppose to be be at most after one working day? That seems not to be the case from my analysis

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

Q........ I deposited money in quantum zenith and my account not updated. They don't answer their customer care number. I sent evidence of payment, no response

Which money market fund administrator is the best,

I'm using ARM investment

100naira:
Which money market fund administrator is the best,

I'm using ARM investment

STANBIC MMF

FBNQUEST

If you wanna use stanbic mmf, ensure that you have a STANBIC ibtc savings account. You can open your mmf directly inside the banking hall or online

Good luck

yesloaded:
STANBIC MMF

FBNQUEST

If you wanna use stanbic mmf, ensure that you have a STANBIC ibtc savings account. You can open your mmf directly inside the banking hall or online

Good luck

ok thanks

Hello, everyone. Is anyone having issues logging into their Stanbic Mutual Fund on the app?

yesloaded:
STANBIC MMF

FBNQUEST

If you wanna use stanbic mmf, ensure that you have a STANBIC ibtc savings account. You can open your mmf directly inside the banking hall or online

Good luck

Please what does the expense ratio and management fee % mean and how is it been applied?

I

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.

I opened an mmf account with stanbic last weekend using your link. How long does it take stanbic for account upgrade verification? I’m still on basic (tier 1)

froshroy:
I opened an mmf account with stanbic last weekend using your link. How long does it take stanbic for account upgrade verification? I’m still on basic (tier 1)

If you are on tier 1 it means your account has been opened and active, to upgrade to tier 3 do well to submit all your kyc documents and wait. Within 5 working days your account will be upgraded. However, even with tier 1 you can invest 200k Maximum with 20k max per deposit.

It's normally the tier you pick and the kyc documents you provided while registering that determines the type of account you get.

Thomaths:
Please what does the expense ratio and management fee % mean and how is it been applied?

Expense ratio is total annual expenses of the fund express as percentage of the average value of asset managed over the period.

Management fee is part of the expense ratio.
Some of the fees that made up the total fees are
Regulators fees, management fees, trustees and Custodian fees etc.
Only management fees goes to the fund managers.

yesloaded:
STANBIC MMF

FBNQUEST

If you wanna use stanbic mmf, ensure that you have a STANBIC ibtc savings account. You can open your mmf directly inside the banking hall or online

Good luck

You really don't HAVE to own a Stanbic IBTC savings account, or any account with Stanbic Bank to use their Money Market Fund; and that's whether Opening in Banking hall or Online

bassdow:
You really don't HAVE to own a Stanbic IBTC savings account, or any account with Stanbic Bank to use their Money Market Fund; and that's whether Opening in Banking hall or Online

You are right but it's good to own a savings account with STANBIC IBTC while running MMF

Good morning, have been unable to update my profile for stanbic mmf online, getting some error message at the end.
Is there any other way?

yesloaded:
You are right but it's good to own a savings account with STANBIC IBTC while running MMF

@bassdow is correct. There is no advantage to an investor who has a Stanbic bank account over others who don't operate a bank account with Stanbic. You can run MMF successfully with any bank account.
Don't forget the collection account is not even Stanbic. It's UBA.

emmasoft:
@bassdow is correct. There is no advantage to an investor who has a Stanbic bank account over others who don't operate a bank account with Stanbic. You can run MMF successfully with any bank account.
Don't forget the collection account is not even Stanbic. It's UBA.

I am not a newbie to MMF

😂

Advantages of having a STANBIC ibtc savings account;

Stanbic ibtc bank network seems stable and will be beneficial when you top up your account through bank transfer. I have seen some people lamenting their account not credited even after 2 business days

emmasoft:
@bassdow is correct. There is no advantage to an investor who has a Stanbic bank account over others who don't operate a bank account with Stanbic. You can run MMF successfully with any bank account.
Don't forget the collection account is not even Stanbic. It's UBA.

Even the interest go carry UBA first nominee bla bla bla

yesloaded:
I am not a newbie to MMF
😂
Advantages of having a STANBIC ibtc savings account;

Stanbic ibtc bank network seems stable and will be beneficial when you top up your account through bank transfer. I have seen some people lamenting their account not credited even after 2 business days

Your post kinda sound misleading & that was what bassdow tried to correct. I wanted to quote u few days back but I just ignored. Someone hoping to open an account with stabic mmf will see your post & think it is mandatory to have a stanbic savings account which is false. What u term as advantage is not advantage, if u follow simple instruction & put your e account in the description, your funds will reflect, it has nothing to do with sending from stanbic savings acct, don't come here to mislead people pls.

jayce232:
Your post kinda sound misleading & that was what bassdow tried to correct. I wanted to quote u few days back but I just ignored. Someone hoping to open an account with stabic mmf will see your post & think it is mandatory to have a stanbic savings account which is false. What u term as advantage is not advantage, if u follow simple instruction & put your e account in the description, your funds will reflect, it has nothing to do with sending from stanbic savings acct, don't come here to mislead people pls.

To best of ma knowledge, almost all these MMF providers work same or similarly.

4 mistakes most of us do are:

1. Thinking you must open an account in the banking hall: That only introduces an unnecessary 3rd party (middle man). The online website is all you need.

2. Relying on the bank for support: The MMF provider's customer Care are more helpful and knowledgeable than those in the bank.

3. Thinking you must own an account with the bank: You don't, and should any staff tells you otherwise, kindly visit another branch, or just use their online website.
Alternatively, Stylishly insult them by calling the MMF provider`s customer Care in front of said bank staff, complain of what you're being told, then ask the person on the phone to speak with said Bank staff.

4. Thinking you need a smart phone / Mobile app to have and operate an MMF account: Though lots of bank staff would tell you such, you really don't need a smart phone / Mobile app, so long you have a means of browsing the internet. Just visit their website, log-in and do your thing. Some bank staff would even tell you that's what you need to make payments.

jayce232:
Your post kinda sound misleading & that was what bassdow tried to correct. I wanted to quote u few days back but I just ignored. Someone hoping to open an account with stabic mmf will see your post & think it is mandatory to have a stanbic savings account which is false. What u term as advantage is not advantage, if u follow simple instruction & put your e account in the description, your funds will reflect, it has nothing to do with sending from stanbic savings acct, don't come here to mislead people pls.

Nobody is misleading anybody here

You read with emotion but not proper understanding

I talked about stable bank network just to avoid people asking questions why their top up have not reflected

yesloaded:
Nobody is misleading anybody here

You read with emotion but not proper understanding

I talked about stable bank network just to avoid people asking questions why their top up have not reflected

I'm sorry but @jayce232 said "kinda misleading" which differs from out rightly saying "misleading" . It's possible that's what you thought BUT hey, we learn every day. Even mySelf would tell you @emmasoft is much knowledgeable than I am.

With regards the bolded portion above, there are multiple reasons why top-ups might delay or not reflect at all. One is when there's back log of works for the MFF staffs. Even the recent 4-days holiday that just past, some MFF providers are yet to completely return to normal.

BackLog of topUps, despite having no issue from the customer's side, are yet to reflect while new topUps quickly reflects.
I know this because I sometimes assist people in registering their accounts.

Another is when people use card payment, yet thinking it takes same time like Bank transfers all things equal.

Of course top-Ups done late Friday (anything past 12:pm) , and weekends would take more time. And should the weekend be followed by Holiday(s), then that time gets longer.

yesloaded:
Nobody is misleading anybody here

You read with emotion but not proper understanding

I talked about stable bank network just to avoid people asking questions why their top up have not reflected

Oga u don't have any argument here!
So all those that have quoted u don't have proper understanding?? U are the one finding it hard to accept correction & dragging this issue. More than 2 persons have corrected u, so what are u even saying? What do u mean stable network? Are u saying all other banks network are not stable?? If u are here to market stanbic savings account, do so expressly & stop beating about the bush!

jayce232:
Oga u don't have any argument here!
So all those that have quoted u don't have proper understanding?? U are the one finding it hard to accept correction & dragging this issue. More than 2 persons have corrected u, so what are u even saying? What do u mean stable network? Are u saying all other banks network are not stable?? If u are here to market stanbic savings account, do so expressly & stop beating about the bush!

Calm down & read my post slowly

Did I said it's a must to have a savings account with stanbic? The answer is NO

I only talked about stable network for smooth top up via transfer & it's based on my personal experience, not trying to generalize

Also, I am not advertising STANBIC savings account here or ask anybody to open STANBIC savings account by force

So why Ur body dey hot 😂

bassdow:
I'm sorry but @jayce232 said "kinda misleading" which differs from out rightly saying "misleading" . It's possible that's what you thought BUT hey, we learn every day. Even mySelf would tell you @emmasoft is much knowledgeable than I am.

With regards the bolded portion above, there are multiple reasons why top-ups might delay or not reflect at all. One is when there's back log of works for the MFF staffs. Even the recent 4-days holiday that just past, some MFF providers are yet to completely return to normal.

BackLog of topUps, despite having no issue from the customer's side, are yet to reflect while new topUps quickly reflects.
I know this because I sometimes assist people in registering their accounts.

Another is when people use card payment, yet thinking it takes same time like Bank transfers all things equal.

Of course top-Ups done late Friday (anything past 12:pm) , and weekends would take more time. And should the weekend be followed by Holiday(s), then that time gets longer.

Is it a must to have STANBIC savings account before opening mmf? NO

Is it good to have a STANBIC savings account for MMF? Based on my experience with their network, the answer is YES not just for alone MMF but for other transactions as well

You're both correct. You don't need a Stanbic account to invest in their MMF. And most times if you follow the laid down instructions you shouldn’t have any issue. But personally, I find it easier to manage redemptions through their app since I already bank with them. The 'withdraw to bank account' feature is seamless, and if any issues pop up, I can just reach out to their bank arm since it's all under the same umbrella. Two truths can coexist…

jayce232:
Oga u don't have any argument here!
So all those that have quoted u don't have proper understanding?? U are the one finding it hard to accept correction & dragging this issue. More than 2 persons have corrected u, so what are u even saying? What do u mean stable network? Are u saying all other banks network are not stable?? If u are here to market stanbic savings account, do so expressly & stop beating about the bush!

I know what's on your mind and I am glad that you spill it out 😂

I am not a marketer but a customer

I still stand on my point that it's good to have STANBIC ibtc account but it's not a must

Neurotika:
You're both correct. You don't need a Stanbic account to invest in their MMF. And most times if you follow the laid down instructions you shouldn’t have any issue. But personally, I find it easier to manage redemptions through their app since I already bank with them. The 'withdraw to bank account' feature is seamless, and if any issues pop up, I can just reach out to their bank arm since it's all under the same umbrella. Two truths can coexist…

Well said, boss

yesloaded:
Calm down & read my post slowly

Did I said it's a must to have a savings account with stanbic? The answer is NO

I only talked about stable network for smooth top up via transfer & it's based on my personal experience, not trying to generalize

Also, I am not advertising STANBIC savings account here or ask anybody to open STANBIC savings account by force

So why Ur body dey hot 😂

Actually if you use blunest, you'll see a dedicated stanbic account for you that you can transfer into. Your money reflects on the portal near instantly. However, u still need to use it to top up any of the MF option you subscribe to . doesn't mean your position that an account with them as a "nice to have" is wrong though. All potato