₦airaland Forum

enemerci:
Please I am a beginner just created my account to the 57% mark where it says fund wallet. I commenced the fund wallet stage but I was surprised when it generated a stanbic ibtc account for me to use and fund my wallet. I thought it has to be a uba account.

Please does stanbic ibtc have a fake app because I downloaded this from play store and have imputed my ID and BVN.

Please someone should kindly clarify this. I doesn't allow me take a screenshot. i would have attached a screenshot

UBA for collect, it's a Stanbic account via the app or web

enemerci:
Which of the app is the right one.
I got registered on the first. Was I wrong

2nd one

t33why:
UBA for collect, it's a Stanbic account via the app or web

Wow, thank you very much.

Zankut:
2nd one

What do I do now since I registered on the first. Could the first be a scam app or can I use my loving details on both app.

Please what is the way forward like this now

enemerci:
What do I do now since I registered on the first. Could the first be a scam app or can I use my loving details on both app.

Please what is the way forward like this now

It's not a scam app as it is provided by stanbic, you can verify that yourself from the about app. I believe it's the old version based on the last date of update. The 2nd one is the newer version

t33why:
It's not a scam app as it is provided by stanbic, you can verify that yourself from the about app. I believe it's the old version based on the last date of update. The 2nd one is the newer version

Oh thank you so much

N487.09 daily interest on 990k almost 1 million, is it not too poor? I was expecting at least N500 interest. Please let me know what you guys think because l'm seriously considering changing the MMF operator.








uote author=t33why post=137023140]
It's not a scam app as it is provided by stanbic, you can verify that yourself from the about app. I believe it's the old version based on the last date of update. The 2nd one is the newer version[/quote]

Rates are dropping across board

Coolis:
N487.09 daily interest on 990k almost 1 million, is it not too poor? I was expecting at least N500 interest. Please let me know what you guys think because l'm seriously considering changing the MMF operator.








uote author=t33why post=137023140]
It's not a scam app as it is provided by stanbic, you can verify that yourself from the about app. I believe it's the old version based on the last date of update. The 2nd one is the newer version

Coolis:
N487.09 daily interest on 990k almost 1 million, is it not too poor? I was expecting at least N500 interest. Please let me know what you guys think because l'm seriously considering changing the MMF operator.








uote author=t33why post=137023140]
It's not a scam app as it is provided by stanbic, you can verify that yourself from the about app. I believe it's the old version based on the last date of update. The 2nd one is the newer version

I recommend that we take some time to review the posts in this thread; many aspects of MMF will become clearer to us.

Preator:
Hi Bro,
Did you notice sept 30 skipped on your HYI? Noticed the date was skipped in my account.

Mailed them but no feedback yet

Indeed, that is correct. I have not utilized the application recently. I will bring this to their attention as well. If no action is taken, I'll be checking out. Thank you for the observation.

Please will mutual funds withdrawal be taxed next year?

IllRatherNotSay:
Indeed, that is correct. I have not utilized the application recently. I will bring this to their attention as well. If no action is taken, I'll be checking out. Thank you for the observation.

They responded that their engineers are looking at it but the money was added nonetheless. I haven't had time or energy to verify if that is so.

Preator:
They responded that their engineers are looking at it but the money was added nonetheless. I haven't had time or energy to verify if that is so.

Is this not on Stanbic MMF?

How do you guys get to know transactions or returns of a certain day wasn't added?
Especially if you're not calculating it everyday. The Stanbic MMF app isn't like cowrywise where you get to see the daily rates and returns for each day. Or Is there something I'm missing, kindly put me on pls.

synoble:
Is this not on Stanbic MMF?

How do you guys get to know transactions or returns of a certain day wasn't added?
Especially if you're not calculating it everyday. The Stanbic MMF app isn't like cowrywise where you get to see the daily rates and returns for each day. Or Is there something I'm missing, kindly put me on pls.

No it's not Stanbic, that's cowrywise

Babygal2020:
Please will mutual funds withdrawal be taxed next year?

I'm not sure because there's WHT on it already so there won't be extra tax

synoble:
Is this not on Stanbic MMF?

How do you guys get to know transactions or returns of a certain day wasn't added?
Especially if you're not calculating it everyday. The Stanbic MMF app isn't like cowrywise where you get to see the daily rates and returns for each day. Or Is there something I'm missing, kindly put me on pls.

Nope, Cowrywise.

For Stanbic, i just "trust" that its been added. Energy to track the daily rates and increase no dey

We ran away from Stanbic to Cowrywise, now see what is happening

nickae:
We ran away from Stanbic to Cowrywise, now see what is happening

Stanbic is giggling at us and probably doing muuuuuuu now

t33why:
Stanbic is giggling at us and probably doing muuuuuuu now

I was just going to ask this question. Cos I've been playing attention to both stanbic MMF and their corresponding dollar fund via cowrywise and I'm unsure whether to put my funds in MMF or dollar fund

nickae:
We ran away from Stanbic to Cowrywise, now see what is happening

Uncle Emmasoft has preached countless times,' you don't have to run from one asset manager to another'. Instead if you are not comfortable with one, open another one and keep both active.

So if u have 100m in stanbic, is that how u will withdraw and put in cowrywise then vice versa again. Atimes 2 months I may not even open my app. No need to dey calculate for them. If there are better options for you to invest, u put ur funds there instead of calculating daily interest.

playces:
Uncle Emmasoft has preached countless times,' you don't have to run from one asset manager to another'. Instead if you are not comfortable with one, open another one and keep both active.

So if u have 100m in stanbic, is that how u will withdraw and put in cowrywise then vice versa again. Atimes 2 months I may not even open my app. No need to dey calculate for them. If there are better options for you to invest, u put ur funds there instead of calculating daily interest.

'ran away' didn't mean we withdrew all investments, I simply meant due to a higher returns from cowrywise, some of us split our investments, instead of putting all eggs in one basket. Note that I also did have investments in ARM and they are still at 20.50%.

nickae:
'ran away' didn't mean we withdrew all investments, I simply meant due to a higher returns from cowrywise, some of us split our investments, instead of putting all eggs in one basket. Note that I also did have investments in ARM and they are still at 20.50%.

Is it actually 20.5% you’re getting when you calculate it yourself… Or you’re also among the set that just puts it there and forget it. lol.

Neurotika:
Is it actually 20.5% you’re getting when you calculate it yourself… Or you’re also among the set that just puts it there and forget it. lol.

ARM as at today's return was 18.1% don't mind that indicative yield of a thing

nickae:
We ran away from Stanbic to Cowrywise, now see what is happening

The painful thing for me is my recent discovery that cowrywise high yield investment does not even compound quarterly. I was told it compounds annually. Now with my quarterly compounding template, the rate is almost the same with STANBIC that compound monthly. I no fit cry I beg

FRANKLYex:
ARM as at today's return was 18.1% don't mind that indicative yield of a thing

Oh ok.

FRANKLYex:
The painful thing for me is my recent discovery that cowrywise high yield investment does not even compound quarterly. I was told it compounds annually. Now with my quarterly compounding template, the rate is almost the same with STANBIC that compound monthly. I no fit cry I beg

Pls make more research on this. If true, then what they’re running isn’t a mutual fund….its more of a fixed deposit in my opinion.

Neurotika:
Pls make more research on this. If true, then what they’re running isn’t a mutual fund….its more of a fixed deposit in my opinion.

Their MMF compounds quaterly, HYI compounds annually. It a actually doesnt make much sense when u consider monthly by stanbic especially now the rates have converged.

Preator:
Their MMF compounds quaterly, HYI compounds annually. It an actually doesnt make much sense when u consider monthly by stanbic especially now the rates have converged.

Ok. I see rates still dropping further by next year tho. But I think it’ll rest a while at 15-16% afterwards. And as for the comparison, I agree. Normally, I’m usually suspicious of funds that have very steep (or erratic) surges or declines in their historical rates. It’s a bit of a red flag….considering the fund nature. Nonetheless, I guess this is the time to observe the dance more patiently. Time will always reveal some pattern…

doomsdayII:
I was just going to ask this question. Cos I've been playing attention to both stanbic MMF and their corresponding dollar fund via cowrywise and I'm unsure whether to put my funds in MMF or dollar fund

I'm not one for VIAs especially if the provider is available and accessible. I'd rather go direct to the source, that way you avoid 3rd party uncertainty, charges, fees, etc

You need to weigh the attendant risks of both options (they obviously do not carry same risks) different currencies, fund composition also different, and compare with your appetite.

Gotocourt:
FMDQ Faces 67% Trading Volume Loss As CBN Shifts To Internal Platform

Guys, what's the implication of this CBN new move

Do not be scared, this doesn't concern you. It was done by CBN for foreign investors to trust our fixed income market. It will officially commence on Dec 1st

Think of it like, instead of CBN trading through an intermidiatry, it is stopping that model and trading directly with you, so now, those intermidiatry you trade through are now loosing patronage.

MicKaro:
Omo, shit is getting tough. My monthly interest dropped despite adding some funds to my principal. It seems those days of high interest are gone

You should give God the glory because it means Cardoso is working, CBN is working lol.

Coolis:
N487.09 daily interest on 990k almost 1 million, is it not too poor? I was expecting at least N500 interest. Please let me know what you guys think because l'm seriously considering changing the MMF operator.








uote author=t33why post=137023140]
It's not a scam app as it is provided by stanbic, you can verify that yourself from the about app. I believe it's the old version based on the last date of update. The 2nd one is the newer version

Where you running to, It's just a matter of time (maybe weeks), they will also reduce rate, you know why? Well, think of it like this, all platforms are trading the same thing "INFLATION" and CBN is the trading house that collects the bet money (your fund),

Now, If you give CBN money through any MMF platform (cowrywise, arm, stanbic) because you see high interest rate, You are betting with CBN that the inflation will continue.

But if inflation slows, stops and begin to reverse, Rate will begin to reduce, CBN will begin to reject that your bet and the new reduce rate will soon affect all MMF platform.



Well now, let me be very clear; that my explanation above is not directly how Monetary policy works economically but I just made up that example to explain to you that low rate affects all platforms.

This is how best I can explain to a 5 years old interested in this topic.