₦airaland Forum

suckprick:
What happened?

ManAdii:
To process redemption wahala.
I even called their customer to beg them that I have an emergency and she promised they will process it yet...
I'm just frustrated right now.

ManAdii:
To process redemption wahala.
I even called their customer to beg them that I have an emergency and she promised they will process it yet...
I'm just frustrated right now.

Bluearrow:
I always advise people to invest some part of their mmf funds in myinvestar first ally for this kind of situation. They have the fastest withdrawal among all the fund managers I have used so far & their interest rate is ok.

ManAdii:
To process redemption wahala.
I even called their customer to beg them that I have an emergency and she promised they will process it yet...
I'm just frustrated right now.

sky404:
what is their interest rate like today??

I mean this myinvestar first ally??

suckprick:
Next time if you need to withdraw, try processing it 24hrs earlier. Also, do not put money you need for day to day activities in Fund managers.

kaceei:
I don't know if there are people here that are resident of the UK and investing in Nigeria? I want to confirm if one should or shouldn't declare the income made from investments in Nigeria to HMRC. If yes, how do you go about it?

Iamblessed8888:
You do know stanbic is among the fastest as per withdrawals right? For Most fund managers, you would have to wait out a 24hour timer. Lets complain with sense please.

If i ask you now, did you initiate withdrawal before 12pm, you may say No

Did you use the web? You may say No

Was it more than 5m? You may say Yes.

Please go to STL or GTB and let us know how fast your withdrawal would take

ManAdii:
I have seen that there are many senseless people in this thread now. They can just pick up their phone and type any rubbish.

See the silly assumptions you made trying to prove your senseless point.

God help you.

Iamblessed8888:
You do know stanbic is among the fastest as per withdrawals right? For Most fund managers, you would have to wait out a 24hour timer. Lets complain with sense please.

If i ask you now, did you initiate withdrawal before 12pm, you may say No

Did you use the web? You may say No

Was it more than 5m? You may say Yes.

Please go to STL or GTB and let us know how fast your withdrawal would take

EquityM:
You guys are lucky here, chief; my foreign bank here clearly told me it takes 4 working days to have my account credited incase I make a liquidation request.

Iamblessed8888:
Wow, you can imagine. Speedy withdrawals sometimes creates a sense of entitlement and may make end users grow a lack of appreciation for the process .

I honestly dont blame people like cowrywise that put a 24 hour timer there. I see Firstally doing same soon or I will recommend it to them when i call their customer care tommorow.

Someone i know waited up to 36hrs before redeeming 1k from STL being marketed here by that big head Creditalerts.

Iamblessed8888:
Wow, you can imagine. Speedy withdrawals sometimes creates a sense of entitlement and may make end users grow a lack of appreciation for the process .

I honestly dont blame people like cowrywise that put a 24 hour timer there. I see Firstally doing same soon or I will recommend it to them when i call their customer care tommorow.

Someone i know waited up to 36hrs before redeeming 1k from STL being marketed here by that big head Creditalerts.

EquityM:
Investments, in my opinion, shouldn't be managed like a bank account that you can access at any time. Any liquidation should have a maximum waiting period of 48 to 72 hours. After verifying my Nigerian passport online and my "TIN" in Nigeria, unfortunately, I still have to wait 2 more working days to finally get an approval to start my investment.

Bluearrow:
You are wrong
Investments are classified under flexible & fixed. If u are investing in flexible assets, u should have access to your funds anytime. Believe me majority of people investing in MMF do so because of liquidity. If the likes of zedcrest, first ally, can do it, then others can do it too, they just need to improve. When I withdraw on stanbic, I get my withdrawal within 3 hours.

Bluearrow:
You are wrong
Investments are classified under flexible & fixed. If u are investing in flexible assets, u should have access to your funds anytime. Believe me majority of people investing in MMF do so because of liquidity. If the likes of zedcrest, first ally, can do it, then others can do it too, they just need to improve. When I withdraw on stanbic, I get my withdrawal within 3 hours.

Bluearrow:
What does the bold even mean?
How can someone be entitled to their own funds? Liquidity is the main reason I invest in mutual fund so I can have access to it. If not for liquidity, I will rather use the money to buy land, because it fights inflation better. In cryptto, investments are classified as flexible or fixed. Mutual fund is not fixed deposit, it falls under flexible investment where investors can still have access to their funds. When u withdraw your flexible investment in binance, u receive it instantly. We should encourage improvement, not encouraging those with fast withdrawal to start delaying withdrawals, that is backward mentality.

When i bought equity fund on zedcrest, it reflected immediately & I was really impressed, when others take 12 to 24 hours to reflect. That is the kind of progress we should encourage here. Just like saying people should stop using cars & planes & go back to travelling with horses. Every fund manager should improve to ensuring instant deposit & quick withdrawal. How quick deposit & withdrawal process is an indication how your funds will be managed. When I made deposit on zenith, it took forever to reflect & their fund management has been very poor so far.

EquityM:
Alright, bro. Let's be honest, if the fund managers do not have enough cash at hand, it might be problematic to liquidate. Most MMF invest in treasury bills, FD, CP, and other money market instruments.

sky404:
so in Stanbic IBTC mmf,
what's their percentage charges when redeeming(withdrawing) your money??

pls educate me,
cos I intend withdrawing everything from there this week.

Bluearrow:
Any fund manager that can't manage liquidity shouldn't be operating in the first place. What the majority of Nigerians use as emergency savings is MMF.

EquityM:
Liquidity is important; however, the main goal of an investment is for capital preservation or capital growth regardless of which fund you decide to go with. 24-hour liquidation is not inadmissible; nevertheless, most fund managers, like FirstAlly and TrustBanc, do it for marketing strategy, as the majority of Nigerians do not even know what MMF is. Lastly, 48-72 hrs is acceptable; anything more than that is questionable.

Bluearrow:
I don't really take note of the management fees during withdrawal. It should be very minimal. If u want to withdraw, use the website. That is what I use & their withdrawal is fast.

EquityM:
Liquidity is important; however, the main goal of an investment is for capital preservation or capital growth regardless of which fund you decide to go with. 24-hour liquidation is not inadmissible; nevertheless, most fund managers, like FirstAlly and TrustBanc, do it for marketing strategy, as the majority of Nigerians do not even know what MMF is. Lastly, 48-72 hrs is acceptable; anything more than that is questionable.

Saybal:
pls can you post the web address

Bluearrow:
I don't agree with the bold, they just have better services & management, not really because of marketing. When u put money in your bank account do u think it sits there? The banks invest with it. Every fund manager should have capital base that meets regulatory compliance, any fund manager that can't manage liquidity shouldn't be operating.

To your second point, any withdrawal above 48 hours for mmf is poor service & questions such fund manager liquidity capability. In binance I have flexible & fixed assets, these funds are invested. Once I withdraw flexible, it is instant, when I liquidated my 3 months fixed investment last year in anticipation for the bull run, it was process within 48 hours, for fixed asset. There is still room for improvement & I believe with time we will get there. The likes of zedcrest & first ally have started it, others will improve with time hopefully. Just imagine zenith fund still using form to liquidate maybe 20k in 2026? Is that lack of marketing strategy or just poor services?

Coolis:
I refuse to agree with you, number calling is an act of intimidation/showing off.

ManAdii:
My marriage with Stanbic Ibtc fund managers end today.
You can't imagine my level of frustration right now. To redeem my own fund too.

Na wa