₦airaland Forum

temi4fash:
Yes i do..

Did you just join recently?

emmasoft:
Are you sure you opted for reinvestment of interest? because reinvestment of interest was done on the 30th of June, while those who opted for interest pay out will get credited between 1st and 7th of July

Please how do i check my status and what do I do to change it?

FRANKLYex:
Please how do i check my status and what do I do to change it?

Login to your account. If you can see a subscription transaction described as gains from the 1st to 30th of June with an effective date of 30th June, it shows you opted for reinvestment of interest. If there is nothing like that, then expect your interest to be paid between now and the 7th of July.

To change your preference regarding the utilization of accrued interest, send an email to customer care requesting for account update form. On the form, pick reinvest interest or pay out depending on your current option and what you want going forward.

emmasoft:
Login to your account. If you can see a subscription transaction described as gains from the 1st to 30th of June with an effective date of 30th June, it shows you opted for reinvestment of interest. If there is nothing like that, then expect your interest to be paid between now and the 7th of July.

To change your preference regarding the utilization of accrued interest, send an email
to customer care requesting for account
update form. On the form, pick reinvest interest or pay out depending on your current
option and what you want going forward.

Thanks, is it like this?

FRANKLYex:
Thanks, is it like this?

Exactly, that means you opted for interest reinvestment. Watch out, by the end of July, you will see the same transaction, and it continues like that, except you change your option as I described in my previous post.

0ubenji:
hope that number is on WhatsApp coz I've shared it with my Norrenberger contact as well. That one is very serious, he'll reach out tomorrow.

PS: You can open online but account verification will be unsuccessful until they manually handle it from their end. So, it's recommended you just deal avoid opening online and getting stuck. Emmasoft can also help if he's available but that guy (my contact) will reach out and eventually become your account officer if you onboards you.

yes my number is on WhatsApp

Thank you very much

Axa mansard payment has landed

Has anyone recently used Cowrywise (Naira Mutual Funds) and Meristem (WealthBuddy - Money Market Fund)? Any bad experience using either platforms?

I’m considering an investment with higher return and daily/monthly payout.

0ubenji:
Did you just join recently?

About 2 years now

Ebenosky:
Has anyone recently used Cowrywise (Naira Mutual Funds) and Meristem (WealthBuddy - Money Market Fund)? Any bad experience using either platforms?

I’m considering an investment with higher return and daily/monthly payout.

I have been enjoying cowrywise cos even during weekends and public holiday, I can make withdrawal. Though it takes exactly 28hours to get credited after initiating withdrawal.
It takes less than one minute to credit the MMF account at anytime including weekends. Their interest rate is usually 22percent for several months now.
Have done countless transactions in their app. Very smooth.

tempest12:
I have been enjoying cowrywise cos even during weekends and public holiday, I can make withdrawal. Though it takes exactly 25hours to get credited after initiating withdrawal.
It takes less than one minute to credit the MMF account at anytime including weekends. Their interest rate is usually 22percent for several months now.
Have done countless transactions in their app. Very smooth.

My leg dey shake for cowrywise since they are just fintech, but now that they want to get into stock trading, I don believe them

Concerning stanbic money market. Since if one pays in money during weekneds it won't reflect til Monday does it mean that interest won't be added until that money reflects on Monday?

TinaJoe:
Concerning stanbic money market. Since if one pays in money during weekneds it won't reflect til Monday does it mean that interest won't be added until that money reflects on Monday?

Sure. Intrrest will start accruing when the money reflects i.e. that's when is invested

Please what's the name of the Stanbic IBTC Mutual Funds on apps stores? I couldn't download any to avoid getting the wrong one.

Harddiskng:
I would like to open a dollar fund with Stanbic, I have already have money market fund with them but i can’t see the option for dollar fund on the same app..

1) Would i view my dollar fund investment on a different platform?
2) I understand i have to pay in dollars into their collection account, hope i would be able to redeem my dollars in my own dollar account?
3) Lastly what is the modality to open a dollar account with stanbic, do i need a stanbic dollar account?

petomas:
Please what's the name of the Stanbic IBTC Mutual Funds on apps stores? I couldn't download any to avoid getting the wrong one.

Stanbic IBTC Mobile v3

On their latest app. You would see BluNest. You can use that to view your mutual funds

It takes Stanbic IBTC forever to compound interest.

Till now they haven't added last month interest to the principal.

This is something FBNQuest did on the 1st day of the month.

Stanbic IBTC is cheating us.

Youngzedd:
It takes Stanbic IBTC forever to compound interest.

Till now they haven't added last month interest to the principal.

This is something FBNQuest did on the 1st day of the month.

Stanbic IBTC is cheating us.

Mine has been added.

Youngzedd:
It takes Stanbic IBTC forever to compound interest.

Till now they haven't added last month interest to the principal.

This is something FBNQuest did on the 1st day of the month.

Stanbic IBTC is cheating us.

Cowrywise own na instanta.. those ppl dey try.. it's just this Fintech phobia.

0ubenji:
Cowrywise own na instanta.. those ppl dey try.. it's just this Fintech phobia.

I have issues trusting fintech with my money.

I prefer the biggest two fund managers in the country, this way I feel relaxed because there's enough liquidity.

0ubenji:
Cowrywise own na instanta.. those ppl dey try.. it's just this Fintech phobia.

why do you fear fintech when they are certified by cbn,insured by NDDC

Youngzedd:
I have issues trusting fintech with my money.

I prefer the biggest two fund managers in the country, this way I feel relaxed because there's enough liquidity.

Your feelings as regard this are 100% valid.

You worked hard for your money. Follow your gut feeling and safeguard it as best as you can. I know these FinTechs have gone through all necessary regulatory hurdles and are certified but I share this your sentiment.

Oladele2393:
why do you fear fintech when they are certified by cbn,insured by NDDC

this your comment reeks of premium, blissful ignorance and it'll take a needless back and forth to educate you on why those largely theoretical factors particularly holds no water in the scheme of things.

And I mean this with all due respect to your person.

Youngzedd:
I have issues trusting fintech with my money.

I prefer the biggest two fund managers in the country, this way I feel relaxed because there's enough liquidity.

Yunno, not too many people understand why HNIs still patronize these traditional fund managers over the fancy but undeniably highly efficient fintechs.

They see Cowrywise, Risevest, and the likes not having as much AUM as the seemingly sluggish StanbicIBTC, ARM, FBNQuest, etc. and never actually wondered why.

Over the years, I have come to understand why HNIs often demonstrate astute decision-making skills. One's thought processes evolve when the potential for significant losses in business endeavors becomes increasingly evident.

0ubenji:
Yunno, not too many people understand why HNIs still patronize these traditional fund managers over the fancy but undeniably highly efficient fintechs.

They see Cowrywise, Risevest, and the likes not having as much AUM as the seemingly sluggish StanbicIBTC, ARM, FBNQuest, etc. and never actually wondered why.

Over the years, I have come to understand why HNIs often demonstrate astute decision-making skills. One's thought processes evolve when the potential for significant losses in business endeavors becomes increasingly evident.

Those fintechs are just few years old in Nigeria and are doing very well, excellent service delivery, so comparing them with the fbnquest and etal of over 2decades ago isn't fair. Those old generations entities should have gone beyond the kind of sluggish services they are rendering but it gets worse by the day. Fintech are here to stay.

Youngzedd:
It takes Stanbic IBTC forever to compound interest.

Till now they haven't added last month interest to the principal.

This is something FBNQuest did on the 1st day of the month.

Stanbic IBTC is cheating us.

I hope you opted for interest reinvestment. Stanbic always reinvests/compounds interest on the last day of the month. The one for June was done on the 30th of June. It's only those who opted for interest payout that get credit in their bank accounts between the 1st and 7th of the new quarter.

emmasoft:
I hope you opted for interest reinvestment. Stanbic always reinvests/compounds interest on the last day of the month. The one for June was done on the 30th of June. It's only those who opted for interest payout that get credit in their bank accounts between the 1st and 7th of the new quarter.

I use reinvestment.

The Net Asset Value should be Inflow + Total Gain.

From my dashboard, the net asset value remains the same as it was last month before 30th.

The interest gained is showing on the transaction history, but haven't been carried over the the net asset value (principal.

It's showing on earned amount, but the last

Ebenosky:
Has anyone recently used Cowrywise (Naira Mutual Funds) and Meristem (WealthBuddy - Money Market Fund)? Any bad experience using either platforms?

I’m considering an investment with higher return and daily/monthly payout.

I started with wealthbuddy this year. No issues.

Youngzedd:
I use reinvestment.

The Net Asset Value should be Inflow + Total Gain.

From my dashboard, the net asset value remains the same as it was last month before 30th.

The interest gained is showing on the transaction history, but haven't been carried over the the net asset value (principal.

It's showing on earned amount, but the last

Unlike other Asset Managers where the daily accrued interest is separated from your principal and you can clearly see the distinction, Stanbic IBTC Asset Managers does not separate them. The only thing you will notice is that your principal grows daily if you keep tab on it. Then the interest space/column below the principal is just for you to know how much has accrued/has been added to you principal so far in that month. By the end of the month, if you chose reinvestment of interest, the interest space would be wiped off and whatever is added to your principal is documented there again for next month.


However, if you chose for your interest to be paid to you, that money that grew on your principal for that quarter would be - minus from the principal and sent to your account. Yours remains the same because you chose reinvestment which means it has already been reinvest.

For others like FBN Quest and UCap there is a clear distinction between your principal and interest. If you keep tab on it you will notice that the principal never grows unless you top-up your investment or interest is renovated. It's only the interest that grows. Hope you can understand this...

Care4:
I started with wealthbuddy this year. No issues.

I am about to use that too and wanted to confirm how you see the daily rates and if it tallies with the amount you recieve?

freeman67:
Unlike other Asset Managers where the daily accrued interest is separated from your principal and you can clearly see the distinction, Stanbic IBTC Asset Managers does not separate them. The only thing you will notice is that your principal grows daily if you keep tab on it. Then the interest space/column below the principal is just for you to know how much has accrued/has been added to you principal so far in that month. By the end of the month, if you chose reinvestment of interest, the interest space would be wiped off and whatever is added to your principal is documented there again for next month.


However, if you chose for your interest to be paid to you, that money that grew on your principal for that quarter would be - minus from the principal and sent to your account. Yours remains the same because you chose reinvestment which means it has already been reinvest.

For others like FBN Quest and UCap there is a clear distinction between your principal and interest. If you keep tab on it you will notice that the principal never grows unless you top-up your investment or interest is renovated. It's only the interest that grows. Hope you can understand this...

I had to call them to get clarification.

50k was mistaken credited to my account and later removed thereby showing a higher total Inflow. When I add Inflow and interest together, it doesn't add up.

FBNQuest does it better. Interest should be separated from Net Asset Value.

Thank you very much for putting me through. I signed up on Saturday, subscribed only 5,000 naira to the Money Market Funds but the challenges I have are; I was not given an e-account as at then and I was also not aware I was to add t on the description of the transaction so when making payment through manual bank transfer, I used Stanbic IBTC Money Market Funds plus my name at the description part. And after some seconds, I got an email confirming my made subscription but would be notified once it's confirmed.
Under my investment activities, it shows that the transaction was completed but I don't know why it's not reflecting.
I understand that Saturday wasn't a working day but is it normal for the delay up till this time despite the fact that i've filed a complain to their email yet, no response?
I want to be sure of the next thing to do as the little amount was to use in testing it to know how it works before I'll think of investing more.
Pls experts here should tell me what's obtainable. Thank you all.

Harddiskng:
Stanbic IBTC Mobile v3

On their latest app. You would see BluNest. You can use that to view your mutual funds

I think so far you are good. You won't be given an e-account until you upgrade to premium.
Next step should be to upgrade to premium so you can have all the benefits.