₦airaland Forum

Amaa2019:
Do first ally have an app or is it website. Help pls

They have an app: MyInvestar

Amaa2019:
Do first ally have an app or is it website. Help pls

First Ally has an app called myinvestar. Download it and click Sign Up. Use SA-Emma to help my ministry as their Rep.

Pls what is the difference between the Halal investment funds in ARMOne and First Ally? I'm not understanding it🙏

NJV:
Pls what is the difference between the Halal investment funds in ARMOne and First Ally? I'm not understanding it🙏

You are looking at two different firms doing the same thing, maybe using different methods. It's like MDBs. It's just like asking what is the difference is between a savings account at GTBank and one at Zenith Bank. A savings account has the same structure irrespective of the bank but the rate may differ slightly, as may customer service or the method of account opening, etc.

Halal generally is a faith-based investment irrespective of the firm that is managing it. So what you have in the two firms you mentioned has the same structure but may be managed differently.

emmasoft:
You are looking at two different firms doing the same thing, maybe using different methods. It's like MDBs. It's just like asking what is the difference is between a savings account at GTBank and one at Zenith Bank. A savings account has the same structure irrespective of the bank but the rate may differ slightly, as may customer service or the method of account opening, etc.

Halal generally is a faith-based investment irrespective of the firm that is managing it. So what you have in the two firms you mentioned has the same structure but may be managed differently.

Thank you for your response. I asked my question because the rates are totally different in both apps and I wonder why so. Though I'm still not very clear on it though.

Hello everyone,
how good is STL in terms of redemption??

NJV:
Thank you for your response. I asked my question because the rates are totally different in both apps and I wonder why so. Though I'm still not very clear on it though.

Rates differ because of the type of underlying assets that each manager invests in. There are different Shariah-compliant products with different risk and returns, so the rate of a particular Halal fund with one manager is bound to differ from the other. For the same reason, you see the MMF with First Ally or Norrenberger higher than that of Stanbic or United Capital; it's all about the management team and assets invested in at a given period. For you, as an investor, your concern should be the category your investment choice belongs to ie if it's low, medium, or high risk, which determines what you get in the long run.

emmasoft:
Rates differ because of the type of underlying assets that each manager invests in. There are different Shariah-compliant products with different risk and returns, so the rate of a particular Halal fund with one manager is bound to differ from the other. For the same reason, you see the MMF with First Ally or Norrenberger higher than that of Stanbic or United Capital; it's all about the management team and assets invested in at a given period. For you, as an investor, your concern should be the category your investment choice belongs to ie if it's low, medium, or high risk, which determines what you get in the long run.

Ok, it's clearer now. Thank you again

https ://chat. whatsapp. com/ LSwujvyAYxZ 0zLMOHRU9ua

yungestmoney:
Hello everyone,
how good is STL in terms of redemption??

Redemption from MMF to wallet - instant.
From wallet to your bank - within 24 hours.

AncestralPowers:
You are losing a whole lot of money on daily basis, you could redeem your money asap and port to another fund manager with better rates, I would suggest either Norrenberger or First-Ally. Just leave about 50k with stanbic mmf..

I so much like seeing women invest their money.......

I know. I just have peace of mind with Stanbic.

And thanks for the compliment. I dey hustle like man. I don taste poverty before, I don run.

Good evening NL
I joined this group from Facebook. They said they trade foreign stocks in US with good returns. They call very huge amounts of funds for investment with huge returns.
See the attached whatsapp group
Please how genuine are they:

Ok

Sunbellar:
Good evening NL
I joined this group from Facebook. They said they trade foreign stocks in US with good returns. They call very huge amounts of funds for investment with huge returns.
See the attached whatsapp group
Please how genuine are they:

You should be old and experienced enough to easily identify a scam once you see one.

Free2Fly:
You should be old and experienced enough to easily identify a scam once you see one.

Just to bring it to this space. 😀😀😀

Sunbellar:
Good evening NL
I joined this group from Facebook. They said they trade foreign stocks in US with good returns. They call very huge amounts of funds for investment with huge returns.
See the attached whatsapp group
Please how genuine are they:

scam alert

Don’t invest your money there

Use cowryrise and piggyvest

Stanbic MMF is suddenly saying i can't withdraw till i upgrade my tier . This is an account with an incoming of 45m and outgoing of 15m. All the transactions were done last year as I opened that account in January 2025. I haven't added or made any withdrawals this year.

Couple of weeks ago, I decided to move some of the funds there to another investment platform and I haven't been able to withdraw.
Three weeks now I have been sending them mails and they ask for my utility bills which I sent. They said I have to bring an account statement or ID to confirm current address. I sent my First Ally account statement which has my present address. They rejected it saying I have to tender a govt issued ID with that address. My passport, NIN and Drivers license all have past addresses.

I don't know what to do again.

So is it that if I have had an emergency, I can't remove funds I invested there over the years or what. Shouldn't the KYC stuff be done and implemented much earlier. This is so frustrating!

Bayoonanuga:
scam alert

Don’t invest your money there

Use cowryrise and piggyvest

Okay 👍

You should have used an address that you have documents to back it up.

Amya:
Stanbic MMF is suddenly saying i can't withdraw till i upgrade my tier . This is an account with an incoming of 45m and outgoing of 15m. All the transactions were done last year as I opened that account in January 2025. I haven't added or made any withdrawals this year.

Couple of weeks ago, I decided to move some of the funds there to another investment platform and I haven't been able to withdraw.
Three weeks now I have been sending them mails and they ask for my utility bills which I sent. They said I have to bring an account statement or ID to confirm current address. I sent my First Ally account statement which has my present address. They rejected it saying I have to tender a govt issued ID with that address. My passport, NIN and Drivers license all have past addresses.

I don't know what to do again.

So is it that if I have had an emergency, I can't remove funds I invested there over the years or what. Shouldn't the KYC stuff be done and implemented much earlier. This is so frustrating!

jp130:
You should have used an address that you have documents to back it up.

Utility bills is for current address. Right? They're trying to verify the utility bill not the other way around.

Amya:
Stanbic MMF is suddenly saying i can't withdraw till i upgrade my tier . This is an account with an incoming of 45m and outgoing of 15m. All the transactions were done last year as I opened that account in January 2025. I haven't added or made any withdrawals this year.

Couple of weeks ago, I decided to move some of the funds there to another investment platform and I haven't been able to withdraw.
Three weeks now I have been sending them mails and they ask for my utility bills which I sent. They said I have to bring an account statement or ID to confirm current address. I sent my First Ally account statement which has my present address. They rejected it saying I have to tender a govt issued ID with that address. My passport, NIN and Drivers license all have past addresses.

I don't know what to do again.

So is it that if I have had an emergency, I can't remove funds I invested there over the years or what. Shouldn't the KYC stuff be done and implemented much earlier. This is so frustrating!

For many who are still renting houses and not home owners, STANBIC's requirement is a challenge.

Ideally you would have used a BANK's statement of account( with address on it instead of that of First Ally's, showing subtly that they have a rival you can easily move funds to).

Reason why diversification is necessary in case you or family needed emergency cash pending when issues are resolved.

You most likely have to go to their office physically with all necessary documents: Utility bills( eg PHCN), Bank statements, National ID, International passport and explain things properly to them emphasizing that you don't live in your own house that would necessitate you bringing an address that tallies with the ones in your Driver's license or NIN.

Check too to see if you can withdraw smaller amounts( doing several over a month or two) that would make you bypass this KYC requirement.

Otherwise, wait till your driver's license expires and get another one with your current address OR, do the international one if you can't wait.

Amya:
Stanbic MMF is suddenly saying i can't withdraw till i upgrade my tier . This is an account with an incoming of 45m and outgoing of 15m. All the transactions were done last year as I opened that account in January 2025. I haven't added or made any withdrawals this year.

Couple of weeks ago, I decided to move some of the funds there to another investment platform and I haven't been able to withdraw.
Three weeks now I have been sending them mails and they ask for my utility bills which I sent. They said I have to bring an account statement or ID to confirm current address. I sent my First Ally account statement which has my present address. They rejected it saying I have to tender a govt issued ID with that address. My passport, NIN and Drivers license all have past addresses.

I don't know what to do again.

So is it that if I have had an emergency, I can't remove funds I invested there over the years or what. Shouldn't the KYC stuff be done and implemented much earlier. This is so frustrating!

This issue is a standard regulatory process, that is the reason a customer must ensure their account is KYC compliant at all times.
Just like traditional bank accounts, you can save up to 100million for years, nobody will check or ask you anything, but the day you want to withdraw 5m, na dem they will begin to tell you ur name in your account and BVN don't match, you didn't submit utility bill, or this or that.
For example, I opened an account and submitted all docs and operated it for years to save for emergency, not knowing that the docs were not attached to my profile. The day I wanted to make a sizeable withdrawal, no b small thing them take my eye see, it took over 3 months to make that account compliant based on the requirements needed

sharone21:
For many who are still renting houses and not home owners, STANBIC's requirement is a challenge.

Ideally you would have used a BANK's statement of account( with address on it instead of that of First Ally's, showing subtly that they have a rival you can easily move funds to).

Reason why diversification is necessary in case you or family needed emergency cash pending when issues are resolved.

You most likely have to go to their office physically with all necessary documents: Utility bills( eg PHCN), Bank statements, National ID, International passport and explain things properly to them emphasizing that you don't live in your own house that would necessitate you bringing an address that tallies with the ones in your Driver's license or NIN.

Check too to see if you can withdraw smaller amounts( doing several over a month or two) that would make you bypass this KYC requirement.

Otherwise, wait till your driver's license expires and get another one with your current address OR, do the international one if you can't wait.

Thanks. I was able to easily move funds in the past year but haven't been able to now. I tried this morning with a smaller amount and couldn't I sent them a message if they'll prefer my tenancy agreement for proof of address, as I have only been living in this place less than a year. I haven't gotten a response yet.
All bank account i have only have my former addresses. First Ally is the only account I have with this new address.

As soon as I have access to my funds, im out of there.

Thanks for your contribution

nickae:
This issue is a standard regulatory process, that is the reason a customer must ensure their account is KYC compliant at all times.
Just like traditional bank accounts, you can save up to 100million for years, nobody will check or ask you anything, but the day you want to withdraw 5m, na dem they will begin to tell you ur name in your account and BVN don't match, you didn't submit utility bill, or this or that.
For example, I opened an account and submitted all docs and operated it for years to save for emergency, not knowing that the docs were not attached to my profile. The day I wanted to make a sizeable withdrawal, no b small thing them take my eye see, it took over 3 months to make that account compliant based on the requirements needed

I understand you. The reason I included my incoming and outgoings was to show that I had access to the investment already. Up to 2.5m at a time though. The problem now is I can't even get a dime out.

Thanks for your input.

Please, I have been following this trend for quite a while now and I haven’t seen any post on how one’s family could have access to MMF investments upon the death of an investor. Hello guys, how can we put a safety net for our families on this issue especially for those using Stanbic and Cowrywise investments. Need your input guys and do we have anyone with a learning from incident issue here pls speak up. We are not praying for death but it’s part of life and we have to prepare as well. Thanks.

Official route= Write a will and clearly state the preferred person to inherit your properties & investments (including MMF & Co)

Unofficial= Ensure a trusted member of your family knows all your investment accounts & codes while also having access to your reciepient account....RISKY!

Engrshed:
Please, I have been following this trend for quite a while now and I haven’t seen any post on how one’s family could have access to MMF investments upon the death of an investor. Hello guys, how can we put a safety net for our families on this issue especially for those using Stanbic and Cowrywise investments. Need your input guys and do we have anyone with a learning from incident issue here pls speak up. We are not praying for death but it’s part of life and we have to prepare as well. Thanks.

Engrshed:
Please, I have been following this trend for quite a while now and I haven’t seen any post on how one’s family could have access to MMF investments upon the death of an investor. Hello guys, how can we put a safety net for our families on this issue especially for those using Stanbic and Cowrywise investments. Need your input guys and do we have anyone with a learning from incident issue here pls speak up. We are not praying for death but it’s part of life and we have to prepare as well. Thanks.

1) I prefer funds which are accessible as websites too, not only apps Incase family members are not in same location....However, some good mfunds or fixed deposits have only apps

2) ATM cards for funds eg fixed deposits that have been moved out of the locked funds to the main accounts and can be withdrawn( if you can still do this). So, they have options of transferring and withdrawing to clear funds faster.

3) On no account should family officially announced anything to banks or fund managers so they can clear whatever is there first

4) Number 3 plus other information on pins, passwords, email addresses, email passwords, pincodes etc should be written down in a note book, signed occasionally and updated( current amounts for each fund) regularly. Should be kept safely in a place you know 'God will guide them to', and in case of anything, as they SEARCH they will find it with ALL instructions written in it( with signatures & dates, name). Before then always tell them NEVER to inform the fund managers first or at all if not, they follow the ardous route of OFFICIALLY producing will or letter of administration.


Families should not be put through so much pain as 'they are already pained'.

Everything be done with wisdom and putting yourself in their shoes so you can predict how things will play out in them cashing out what should be theirs instead of the BANKS or FUND MANAGERS( if money forfeited due to lack of documents).

Be careful with Lawyers and will issues.

t33why:
Newbies to MMF often think how much to earn as monthly interest is the first step when starting MMF. How about you familiarise yourself with the fund managers, ask about their onboarding and ease of use etc. While rate of return is important, what's the point of a high rate when you have to send countless mails, copy SEC, CBN(who has no business here sef) and almost copy the presidency just to withdraw your funds

Very logical. P
What's your view on First Ally, then, what's your view on Norrenbeger money market. Thanks.

Smattrader:
Almost 3k daily depending on the fund manager tho. But you failed to ask the most important question tho which is which fund manager Is good, has good customer services etc.

very sensible.
Is First Ally good? What about Norrenbeger?
Thank you.

professore:
very sensible.
Is First Ally good? What about Norrenbeger?
Thank you.

They are both good - rates, customer care service, ease of navigating the app and web portals etc. I'm a Rep to both fund managers. I also have a go-to person in each of them for quick and urgent support needs. If you go through some earlier pages of this thread, you will see some posts about them. You can as well be in touch about everything mutual funds and stocks.

emmasoft:
They are both good - rates, customer care service, ease of navigating the app and web portals etc. I'm a Rep to both fund managers. I also have a go-to person in each of them for quick and urgent support needs. If you go through some earlier pages of this thread, you will see some posts about them. You can as well be in touch about everything mutual funds and stocks.

oga boss thanks for the prompt response, what about Arm One? I'm looking for how to make a move at most. this week, that is why I'm comparing these names, as StanbicIBTC refused to open an account for me. It's like they are battling network issue or something.

professore:
oga boss thanks for the prompt response, what about Arm One? I'm looking for how to make a move at this week, that is why I'm comparing these names, as StanbicIBTC refused to open account for me. Since they are battling network or something.

I sent you a PM.