₦airaland Forum

sharone21:
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2) ATM cards for funds eg fixed deposits that have been moved out of the locked funds to the main accounts and can be withdrawn( if you can still do this).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.

This is serious….I like this but it will still be difficult in a way.

emmasoft:
I sent you a PM.

I don't have access to my mail again.

What is the difference between all these Arm One, First Ally, StanbicIBTC Mutual Funds and Piggy vest, Cowrywise etc. which ones are higher? What are the risks?
Because it seems these Piggvests pay higher. Anyone to lecture me on this please?

professore:
What is the difference between all these Arm One, First Ally, StanbicIBTC Mutual Funds and Piggy vest, Cowrywise etc. which ones are higher? What are the risks?
Because it seems these Piggvests pay higher. Anyone to lecture me on this please?

Use Google or ChatGTP.

Zooposki:
Use Google or ChatGTP.

Did that but not that explanatory.

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!

A utility bill is proof of address, period. Asking for a second document to validate a utility bill is ridiculous. Standard procedure is for account officers to physically verify the address and write a visitation report. Our weak consumer protection laws are the reason companies get away with pushing this stress onto customers. Stanbic is particularly notorious for senseless KYC procedures.

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

Both but I'd advise you to start with firstAlly.

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!

I dont think its complicated.

1. They asked for proof of your existing address.
2. You print your bank statement and give to them. They donot accept First ally statement
3. If you dont have Bank statement or ID for the old address, you can apply for a change of address and use a location where you have bank statement /ID for it this time. Change of address takes 3 days or so.

And call, dont send emails. Better still, ask for your account officer. They may help you resolve it faster.

And relax, it’s a small issue

It seems the utility bill you provided may be more than 3 months old or does not carry your exact address

Smattrader:
Both but I'd advise you to start with firstAlly.

Any reason for this? Thanks.

Neurotika:
A utility bill is proof of address, period. Asking for a second document to validate a utility bill is ridiculous. Standard procedure is for account officers to physically verify the address and write a visitation report. Our weak consumer protection laws are the reason companies get away with pushing this stress onto customers. Stanbic is particularly notorious for senseless KYC procedures.

Thought so too. Thanks

Iamblessed8888:
I dont think its complicated.

1. They asked for proof of your existing address.
2. You print your bank statement and give to them. They donot accept First ally statement
3. If you dont have Bank statement or ID for the old address, you can apply for a change of address and use a location where you have bank statement /ID for it this time. Change of address takes 3 days or so.

And call, dont send emails. Better still, ask for your account officer. They may help you resolve it faster.

And relax, it’s a small issue

IWhat about an Opay account? I just opened that couple of months ago and i think it has my current address listed there.

I think using a past address defeats the purpose of a KYC in the first place and I'll rather not complicate things further since its not a verifiable address. I'll probably physically go to their office when I have the time this week. If they can offer to come for a physicall address verification., that'll be great. Tired of the run around.

Amya:
IWhat about an Opay account? I just opened that couple of months ago and i think it has my current address listed there.

I think using a past address defeats the purpose of a KYC in the first place and I'll rather not complicate things further since its not a verifiable address. I'll probably physically go to their office when I have the time this week. If they can offer to come for a physicall address verification., that'll be great. Tired of the run around.

I dont know if they would honor fintech. Dont you have a traditional bank account that carries your new address? If no, why not update the address on your bank account and then present it?

If you have utility bill, fine but note the reason why the other was not accepted. It may be more than a time frame (3 months or so) or maybe it does not carry your full address

Abeg dont make this more complicated.

1. Go to bank tomorrow
2. Tell them you want to update your address
3. Give them proof
4. Print your bank statement
5. Send it to stanbic and tell them you want to update your current address . It takes 3 days or so.
6. Call stanbic, dont email. Mails are slow. Their customer care picks fast

Iamblessed8888:
I dont know if they would honor fintech. Dont you have a traditional bank account that carries your new address? If no, why not update the address on your bank account and then present it?

If you have utility bill, fine but note the reason why the other was not accepted. It may be more than a time frame (3 months or so) or maybe it does not carry your full address

Abeg dont make this more complicated.

1. Go to bank tomorrow
2. Tell them you want to update your address
3. Give them proof
4. Print your bank statement
5. Send it to stanbic and tell them you want to update your current address . It takes 3 days or so.
6. Call stanbic, dont email. Mails are slow. Their customer care picks fast

Thank you

professore:
Any reason for this? Thanks.

Most times FirstAlly has a higher YTD % and, more so, they are the fastest I have seen so far when it comes to withdrawals and deposits.

Smattrader:
Most times FirstAlly has a higher YTD % and, more so, they are the fastest I have seen so far when it comes to withdrawals and deposits.

STL ASSET MANAGEMENT 19.01%

akindelelawrenc:
STL ASSET MANAGEMENT 19.01%

I have all of them, be it FirstAlly, STL, Norrenberger, firstM....etc

Smattrader:
Most times FirstAlly has a higher YTD % and, more so, they are the fastest I have seen so far when it comes to withdrawals and deposits.

Thanks so much bro. Any idea how I can start immediately? Do I need to visit their office or starting is something I can do from my phone. Please I need this answer for for Arm One too. I want to start with either of them today today. Thanks.

House please do I need to visit Arm One or firstAlly physically to start mutual fund with them or is it something I can do right from my phone? Someone please guide me. Thanks.

StanbicIBTC no gree open account for me since I have been visiting their office since early August. Time is of the essence to me.

Apart from stanbic.

Which other mmf pays dividend monthly

If you have palmpay account,do ARM one Mutual fund there.

professore:
House please do I need to visit Arm One or firstAlly physically to start mutual fund with them or is it something I can do right from my phone? Someone please guide me. Thanks.

StanbicIBTC no gree open account for me since I have been visiting their office since early August. Time is of the essence to me.

professore:
House please do I need to visit Arm One or firstAlly physically to start mutual fund with them or is it something I can do right from my phone? Someone please guide me. Thanks.

StanbicIBTC no gree open account for me since I have been visiting their office since early August. Time is of the essence to me.

cc @emmasoft

Franky826:
cc @emmasoft

@Franky826 thanks for the referral. @professore I already allowed you to reach out to me. As a Rep of First Ally, you don't need to worry when you have me here. I can't post some info because I will be banned. See my signature: zero eight one three four one one eight four nine four. Download the MyInvestor app and use SA-Emma when you register.

BuchyD:
If you have palmpay account,do ARM one Mutual fund there.

Thanks bro

Franky826:
cc @emmasoft

Thanks bro

emmasoft:
@Franky826 thanks for the referral. @professore I already allowed you to reach out to me. As a Rep of First Ally, you don't need to worry when you have me here. I can't post some info because I will be banned. See my signature: zero eight one three four one one eight four nine four. Download the MyInvestor app and use SA-Emma when you register.

Do I have to use someone else apart from me, c'mon this is my investment

I think he means you should use his name as a referral when you're registering.

professore:
Do I have to use someone else apart from me, c'mon this is my investment

Christie171:
I think he means you should use his name as a referral when you're registering.

Is it compulsory to do so? That is what I want to know.

professore:
Is it compulsory to do so? That is what I want to know.

It's not a must but it's not a bad thing

He will get referral bonus when you use his ID (which is not a bad idea as it cost hky nothing) and it won't have any negative effect on your account

Do you understand now?

No matter how willing you want to invest, you need basic education and little knowledge about finance, to make it easier for your fund managers and financial advisors..

After all, everybody cannot be an investor......

yesloaded:
It's not a must but it's not a bad thing

He will get referral bonus when you use his ID (which is not a bad idea as it cost hky nothing) and it won't have any negative effect on your account

Do you understand now?

I do, thank you

rukyboy:
Apart from stanbic.

Which other mmf pays dividend monthly

None of the mmf will pay u monthly dividends including stanbic.. It's quarterly