₦airaland Forum

Creditalerts:
They lack financial wisdom, they don't know that even stanbic/GTB and others are not immune to bankruptcy but Nigeria financial monitoring policies is an eagle eye on our financial system in Nigeria,that was how they said opay will collapse till today opay and other fintechs are even doing better 🤣 you guy should stop all this your myopic reasoning .Nigeria is moving forward ✌🏾🤑🤑

Iamblessed8888:
My MMF top up just reflected this evening since 24th. Seems the issue has been sorted.

Iamblessed8888:
Not true. Context is everything. There was a bank wide network issue with stanbic ibtc which also affected their wallet services. It was rectified today. My topup which was done since 24th only just reflected today. On a normal day, stanbic’s operational efficiency is why people dont mind their relatively lower rates. Rates aside, name me one fund manager’s app that can rival stanbic’s. They are the bar and others try to match up to them.

chimex38:
Standard bank group SouthAfrica is the No1 financial institution in Africa by a large margin..
Stanbic Bank and asset arm are just subsidiaries.

They may fall down the pecking order in few years but not going bankrupt anytime soon.
I still doubt they will drop from No1 position in the next 5-10yrs.

They gave birth to the popular Standard Chartered bank of UK.
Yes, the same Big Boyz bank that sponsors Liverpool.

They ain't bankrupting anytime soon or later.

#Dont_Play

Creditalerts:
Stanbic this Stanbic that 🥱🥱🥱please tell their fund managers to do better if not I'm not coming back sing the sermon elsewhere or u go sing am tire 🤣🤣🤣🤣 trustbanc, STL ,FIRSTALLY ,norrenberger are doing just fine now 👍🏾

Iamblessed8888:
Not true. Context is everything. There was a bank wide network issue with stanbic ibtc which also affected their wallet services. It was rectified today. My topup which was done since 24th only just reflected today. On a normal day, stanbic’s operational efficiency is why people dont mind their relatively lower rates. Rates aside, name me one fund manager’s app that can rival stanbic’s. They are the bar and others try to match up to them.

freegaza:
Just checked mine. It has not reflected

Preator:
I sense the fear factor. Some of us try to hold others back for things we are afraid to do. We stylishly wait for the "i told you so" moments while pushing narratives that will justify decisions we took out of fear. Otherwise, he's an agent.

The facts are clear though. Not a single SEC approved MMF fund manager has defaulted or ran away with people's money. Not a single one, whether fintech, mushroom or cottage fund manager.
I use several mmfs, stanbic, firstally, trustbanc, STL, cowrywise, FBN and a couple of others. I prefer the transparency that cowrywise provides over stanbic everyday. I can see the daily breakdown per fund manager, i could invest in multiple mmf(in the past), track and buy stocks, etc.

I dont mind anyone promoting any fund manager really, but let's keep to the facts and not fear affirmation. Afterall, for any serious investor, your promotion should only point them in the direction of the investment. Due diligence to affirm what you are asserting is their personal business.

Candanyl:
My top up is yet to reflect. I called customer care n they keep telling me to wait as it’s network issue . Tired of waiting.. today makes it 7 days I moved the fund from my wallet .

bassdow:
ANother thing I love about Stanbic is, I am not forced to use mobile Apps. Most other competitors, except you use their mobile app, you would be lacking big time. A good example is Norrenberger

Iamblessed8888:
You right Boss. For Norrenbeger to update your interest is by luck oo. You will fast and pray to the point you will be soo excited once they update and you wont even bother to verify the rate.

STL does not have app 😂😂, and that clown called Creditalerts expect people to give them their hard earned money all for referral crumbs. A company that cannot afford app. People are wicked sha

Stanbic is too much sha. Even on sundays they will update your interest. I wonder sometimes if they dont rest

Iamblessed8888:
Sorry about this. I suggest you and Candanyl call again on Monday, this time, ask to speak with a supervisor and not the regular agents. Also ask for your account officer. The issue has not being totally resolved yet but it seems they have started clearing the backlog. I just tested the wallet by sending 500 naira and it is yet to appear.

Iamblessed8888:
Chimex38 i didn’t even know Stanbic gave birth to Standard chartered, another solid bank. Nawa, no wonder they still collaborate on some things like wallet, etc.

If you notice, both standard chartered and Stanbic are miles ahead of any purely Nigerian owned bank in terms of operational efficiency. Infact they are the only 2 banks whose app can rival that of fintechs. The fintechs are scared of them

Stanchart does MMF too but not Nigerian Money Market. You need to be a finance guru to understand their MMF lol

bassdow:
Stanbic IBTC, just like others, don't need to manually update your interests because their systems have been programmed to do so automatically. Even the Happy birthDays wey your bank dey send you, you think say na dem dey send am manually ? na dem computer dey do am Ooo following instructions.

Stanbic updates interest between 12midNight and 12:30am

Norrenberger updates interests between 3pm to 4pm and if they don't means it's till further notice.

As for your comment on STL not having an app yet, well so long their website is useful, mobile apps should be secondary. mySelf neither use mobile apps nor smart phones for a number of reasons.
I still believe STL would one day have an app if they not already working on one. Don't forget, they're relatively NEW hence needed to jump into the market as quickly as possible hence no need allowing mobile app cause delays.

Harddiskng:
At the bolded. It is either you are a marketer or you are not living on earth with the rest of us

This week that just passed using Stanbic bank was a nation wide struggle. Even functions for other arms of their business wasn’t working sub-optimal or not even working at all.

I have been using Stanbic services for over 10 years now and can tell you confidently that in recent times their service are deteriorating faster than a rotten tomatoes

Iamblessed8888:
Just a temporary glitch. Consumers are fickle. Even Elon Musk still gets insulted despite giving everyone a platform for free speech

Harddiskng:
At the bolded. It is either you are a marketer or you are not living on earth with the rest of us

This week that just passed using Stanbic bank was a nation wide struggle. Even functions for other arms of their business wasn’t working sub-optimal or not even working at all.

I have been using Stanbic services for over 10 years now and can tell you confidently that in recent times their service are deteriorating faster than a rotten tomatoes

Creditalerts:
To whom it may concern take note

Iamblessed8888:
Chimex38 i didn’t even know Stanbic gave birth to Standard chartered, another solid bank. Nawa, no wonder they still collaborate on some things like wallet, etc.

If you notice, both standard chartered and Stanbic are miles ahead of any purely Nigerian owned bank in terms of operational efficiency. Infact they are the only 2 banks whose app can rival that of fintechs. The fintechs are scared of them

Stanchart does MMF too but those ones no send Nigerian Money Market. You need to be a finance guru to understand their MMF lol

chimex38:
Yes.. They have issues on that.
They even issued SMS to that effect.
There services are beginning to the poor and others are competing favourably in some aspects.

But let nobody put Stanbic and Bankruptcy in the same sentence.
The other asset managers would first go bankrupt in the hierarchy of things.

Services are poor, but your funds are HIGHLY SECURED.
No matter the billions anyone may have, I don't think it makes up to 1% of what they hold.

Harddiskng:
I never mentioned anything about bankruptcy, I was going on about the deplorable state of their services in recent time, which you also agreed with.

Do i think it’s a solid business, yes but at your bolded is a lie, nothing hate more than lies. In this case it seem your lie is a product of your ignorance. There is nothing “Too Big To Fail”. Bigger and better companies than Stanbic IBTc in 1st world countries have go bankrupt if you don’t know

No company is immortal. Standard Oil was broken up by the law; the East India Company (once the most powerful entity on Earth) was dissolved by the British Crown. While the "Big Tech" giants of today seem untouchable, history suggests that eventually, every giant either evolves, gets broken up, or fades away.

*******************************

If you are reading diverse your funds between atleast 3 or 4 MMF operators.

chimex38:
Thanks for the update.
All these agro-investment firms these days.

chimex38:
@Bolded
Not necessarily Stanbic.

Rather Standard Bank SouthAfrica gave birth to both Standard Chartered Bank UK(an independent entity ) and
Stanbic Nigeria
(subsidiary of standard bank)

Standard Chartered is almost exclusively reserved for elites. They do it without apology.

lovewins:
You can say the bolded again. They tried retail banking in Nigeria for a few years, but have not pivoted begining today to doing what they are best at. If you don't have minimum 7.5M naira in your account balance as at yesterday your account with them will be closed.

Harddiskng:
I never mentioned anything about bankruptcy, I was going on about the deplorable state of their services in recent time, which you also agreed with.

Do i think it’s a solid business, yes but at your bolded is a lie, nothing hate more than lies. In this case it seem your lie is a product of your ignorance. There is nothing “Too Big To Fail”. Bigger and better companies than Stanbic IBTc in 1st world countries have go bankrupt if you don’t know

No company is immortal. Standard Oil was broken up by the law; the East India Company (once the most powerful entity on Earth) was dissolved by the British Crown. While the "Big Tech" giants of today seem untouchable, history suggests that eventually, every giant either evolves, gets broken up, or fades away.

*******************************

If you are reading diverse your funds between atleast 3 or 4 MMF operators.

chimex38:
OK.. I get your point on services. they need to improve.


The bankruptcy part wasn't for you.
I might have exaggerated on it a bit. Nothing is too big to fail.(Nokia, Blackberry, intercontinental, union bank, etc comes to mind)

But at the moment they've got the benefit of doubt.theyve still got a robost group
(Stanbic capital is leading the listing of Dangote Refinery on NGX)

but I suppose those concerned got my drift with respect to other asset entities.

chimex38:
Diversification is highly advisable. It's no brainer in any venture.

But my point still remains:
For now:

You'all can Diversify to other firms for other reasons; rate, customer service, app simplicity, tailored efficiency,etc. It's all good, and highly advisable. Not against it.

But Diversify-INTO Stanbic as a safety net against future bankruptcy of firms in the near term (if at all) NOT away from Stanbic.

Diversify into Stanbic specifically for robust, longevity, economic Shock absorber, capital safety, safety-net against bankruptcy in your lifetime. Their parent company is still the No. 1 financial firm in Africa and over 150yrs Old and so Stanbic Mmf have a huge backup shield.



I don't advice OPAY for bulk holdings as indirectly insinuated.
The more regulated a firm is, the safer your assets as a customer.
Your choice anyway.



I am writing for over 50+ individuals coming to the thread in future to make informed decision.
(Not trying to convince anyone in particular).