₦airaland Forum

Hi Stanbic folks.

I intend to topup my Stanbic mmf account using the UBA collection account and my unique ID eAccount reference. But I intend to use an opay account not the traditional/standard bank account I filled in for withdrawals and I used to pay in when I made the initial capital funding into the mmf earlier in the year.

Hope the opay funding will not complicate issues ?

synoble:
Hi Stanbic folks.

I intend to topup my Stanbic mmf account using the UBA collection account and my unique ID eAccount reference. But I intend to use an opay account not the traditional/standard bank account I filled in for withdrawals and I used to pay in when I made the initial capital funding into the mmf earlier in the year.

Hope the opay funding will not complicate issues ?

I thought Stanbic ibtc sent virtual individual account for top up to subscribers without using your eAccount as reference?

Happy New Year to everyone. All the way from Asia..

EquityM:
Happy New Year to everyone. All the way from Asia..

If you in the souther part of Asia — especially in that country known as India, please invest in their Equities and stocks.

I have been tracking India stock market and i watch/listen to Palki Sharma first post news on YouTube every day.

After Trump slammed Tariffs on India, Indian then decided to slash goods and service Tax.

Lots of Indians began buying stocks and equities, New IPOs began to list like crazy.

I was just observing how India investors was profiting throughout that rally, I had no way or means to invest there.


Happy New Year.

EquityM:
Happy New Year to everyone. All the way from Asia..

I wish you the same.

Entering a new year is like investing. We all enter at different times, based on the information available to us and the position we currently occupy. Entries may differ, but everyone must eventually make a decision to step in

I'm working as a P.E teacher in Thailand; unfortunately, it's hard for foreigners to invest here as the rate only favors their citizens.

Beeron:
If you in the souther part of Asia — especially in that country known as India, please invest in their Equities and stocks.

I have been tracking India stock market and i watch/listen to Palki Sharma first post news on YouTube every day.

After Trump slammed Tariffs on Indian, Indian then decided to slash goods and service Tax.

Lots of Indians began buying stocks and equities, New IPOs began to list like crazy.

I was just observing how India investors was profiting throughout that rally, I had no way or means to invest there.


Happy New Year.

EquityM:
I'm working as a P.E teacher in Thailand; unfortunately, it's hard for foreigners to invest here as the rate only favors their citizens.

uh ho too bad.

But is there no another alternative like fintech app listing like cowrywise business model?

I use to think Thailand is foreigner friendly due to their booming tourism, why are they this harsh to foreigners investing?

It's Isn't like that in the U.S, worst case scenario in the U.S, you will be subjected to 30% withholding Tax.

Thailand is only good for work and tourism. As a foreigner, any inflow will be heavily monitored and taxed. Nevertheless, housing, food, and transportation are the cheapest in the world.

Beeron:
uh ho too bad.

But is there no another alternative like fintech app listing like cowrywise business model?

I use to think Thailand is foreigner friendly due to their booming tourism, why are they this harsh to foreigners investing?

It's Isn't like that in the U.S, worst case scenario in the U.S, you will be subjected to 30% withholding Tax.

EquityM:
Thailand is only good for work and tourism. As a foreigner, any inflow will be heavily monitored and taxed. Nevertheless, housing, food, and transportation are the cheapest in the world.

No wonder you taking your chances in the Nigeria Market. Playing the long game and short term investment, provided you getting liquidity abroad to invest.


In my book, you are considered FPI (Foreign Portfolio Investor)


Your investment strategy is well calculated.
Keep up bro.

tosinman:
I redeem some of my money from Stanbic mmf since yesterday morning and it has not landed in my bank account which is also a Stanbic bank.
Please what should I do?
I've also sent them an email

you do understand this is holiday period + the fact the bank is also stanbic doesn't matter much.

Fund managers don't operate like your traditional bank hence swiftness during non business days ain't always their priority; at least here in Nigeria

synoble:
Hi Stanbic folks.

I intend to topup my Stanbic mmf account using the UBA collection account and my unique ID eAccount reference. But I intend to use an opay account not the traditional/standard bank account I filled in for withdrawals and I used to pay in when I made the initial capital funding into the mmf earlier in the year.

Hope the opay funding will not complicate issues ?

if that's the only account accessible to you, then so long there's a place to enter your eAccount ID, you shouldn't have any issue. Worst case, they would give you a call to confirm it's actually You.

Additionally, could be more helpful sending them the confirmation screenshot via email and giving a followUp call during the business days to ensure they act quicker.

Mind you, during these holidays, expect services / responses to be slow.

Myself have always used quickTeller. Guess I might have been the very first person to do so because they really tried all they could to stop me until they gave up. Nowadays, we both have gotten used to each other sometimes they no longer even give any call BUT the money always reflects.

Forget about investments for now, let us enter 2026 with thanksgivings, lets thank God for His grace and mercy upon our lives, na who dey alive dey invest money.. Even all the fund managers are thanking God they survived our endless complaints and bantering.

synoble:
Hi Stanbic folks.

I intend to topup my Stanbic mmf account using the UBA collection account and my unique ID eAccount reference. But I intend to use an opay account not the traditional/standard bank account I filled in for withdrawals and I used to pay in when I made the initial capital funding into the mmf earlier in the year.

Hope the opay funding will not complicate issues ?

Ok so my bank won't see my capital withdrawn from the mmf app into my bank account as income?

Preator:
Withdrawing does not lead to tax. Tax is due on only your interest. This will have been deducted 51@at source by your Fund manager before you see the money.

Withdraw as u like

AliyuMuktarD:
I moved my funds to cowrywise also, how safe?

I was contemplating between cowrywise and Bluenest (backed by Stanbic), I'm thinking bluenest is safer incase anything goes wrong because of the backing but lower roi

they all carry the same risk

Oyibopepe2000:
Ok so my bank won't see my capital withdrawn from the mmf app into my bank account as income?

No. The tax authority wont see it as an income.

You have been a good guide, as I could only know the best fund managers through your post.

emmasoft:
I wish you the same.

Entering a new year is like investing. We all enter at different times, based on the information available to us and the position we currently occupy. Entries may differ, but everyone must eventually make a decision to step in.

Can you kindly explain a bit on the risk side of things

bharkarh:
they all carry the same risk

Jayce242:
I thought Stanbic ibtc sent virtual individual account for top up to subscribers without using your eAccount as reference?

Yes true. I just want to be sure using opay to fund via the eAccount won't pose any challenge even when the opay carries same name.

bassdow:
if that's the only account accessible to you, then so long there's a place to enter your eAccount ID, you shouldn't have any issue. Worst case, they would give you a call to confirm it's actually You.

Additionally, could be more helpful sending them the confirmation screenshot via email and giving a followUp call during the business days to ensure they act quicker.

Mind you, during these holidays, expect services / responses to be slow.

Myself have always used quickTeller. Guess I might have been the very first person to do so because they really tried all they could to stop me until they gave up. Nowadays, we both have gotten used to each other sometimes they no longer even give any call BUT the money always reflects.

Hmnn, thank you chief. Opay should be able to take the eAccount reference in the narration...

Donbrig:
Forget about investments for now, let us enter 2026 with thanksgivings, lets thank God for His grace and mercy upon our lives, na who dey alive dey invest money.. Even all the fund managers are thanking God they survived our endless complaints and bantering.

Lol, you dey whine... thanksgiving no say make I no topup na

Seems the 10% tax on income has been implemented by my fund manager. I got N546 interest on my little investment on 30th of December, but saw N492 yesterday 31st and also today 1st. This is not encouraging at all. This is pure wickedness. Taking 10% out of what someone is earning as tax daily is wickedness. Nothing l'm benefiting from the government, l pay or provide everything for myself. I pay for the water l drink, for the electricity l use, for my accommodation, security etc. What is the Government doing for me to be taxing me daily?

Please share with us if you observe same or any kind of changes in your account, l'm with ARM via Palmpay platform

Is Stanbic MMF trying to whining me.

I have started shorting my Stanbic MMF position and moving to FBN MMF and Stocks, only to see this lol

I hate whining, I have garnered energy for follow through and follow through it is. If they keep up good rates i would consider sending a generous sum there each month till the end of 2026, God willing.

Coolis:
Seems the 10% tax on income has been implemented by my fund manager. I got N546 interest on my little investment on 30th of December, but saw N492 yesterday 31st and also today 1st. This is not encouraging at all. This is pure wickedness. Taking 10% out of what someone is earning as tax daily is wickedness. Nothing l'm benefiting from the government, l pay or provide everything for myself. I pay for the water l drink, for the electricity l use, for my accommodation, security etc. What is the Government doing for me to be taxing me daily?

Please share with us if you observe same or any kind of changes in your account, l'm with ARM via Palmpay platform

Likely a rate drop. I haven't seen any drop on any of my FMs. Plus WHT was on MMF before anyway.

I thought WHT on mmf was 10% before, maybe another 10% is what was added making it 20% all together. Why l don't agree it's a drop in rate is , ARM has maintain 18.7% from 23rd till today. It's still on 18.7% today.

Preator:
Likely a rate drop. I haven't seen any drop on any of my FMs. Plus WHT was on MMF before anyway.

Coolis:
I thought WHT on mmf was 10% before, maybe another 10% is what was added making it 20% all together. Why l don't agree it's a drop in rate is , ARM has maintain 18.7% from 23rd till today. It's still on 18.7% today.

The law doest state any extra 10%. And why a drop on the 31st also? Law came into effect today. And mine are still same. Lets see what the next few days bring.

This tax issue is gonna push Nigerians to the wall, I am worried of what is ahead of us..... Massive taxation of citizens is one of the conditions World-Bank, IMF often give our goverment before lending them money, we saw how it played out in Kenya. The issue is not the tax, but a govt mismanaged system that doesn't function... Taxing Nigerians more is gonna create more funds for our politicians to embezzle and boost their offshore bank accounts.

If Nigeria na country wey things dey work properly, I would be willing to pay 40% of my profits to goverment...

Good afternoon and a happy new year to everyone.

Please I'm looking to build a dollar investment. What are the dollar mutual fund managers that are advisable?

I currently have naira mmf with Cowrywise.

Looking forward to your responses.

Thank you.

Today, First Ally paid out its dividend. Already reinvested, no tax drama...

Norrenberger or CardinalStone.

preciouseze7:
Good afternoon and a happy new year to everyone.

Please I'm looking to build a dollar investment. What are the dollar mutual fund managers that are advisable?

I currently have naira mmf with Cowrywise.

Looking forward to your responses.

Thank you.

Norrenberger is the best when it comes to dollar mutual fund.

preciouseze7:
Good afternoon and a happy new year to everyone.

Please I'm looking to build a dollar investment. What are the dollar mutual fund managers that are advisable?

I currently have naira mmf with Cowrywise.

Looking forward to your responses.

Thank you.

EquityM:
Norrenberger or CardinalStone.

I'm seeing that cardinal stone, I need to make a dollar deposit. Is it not possible to pay them in naira at a certain rate to be converted in dollar?

If you have a domiciliary account, you can only pay in USD if you go with CardinalStone, so I recommend Norrenberger, as they can source USD for you in the naira rate. However, you can open a Sterling USD account online, but just stick with Norrenberger.

preciouseze7:
I'm seeing that cardinal stone; I need to make a dollar deposit. Is it not possible to pay them in naira at a certain rate to be converted into dollars?