₦airaland Forum

PresidentBuhari:
The 50 million rule has been in place for over a year when you intend to specify your rate for primary auction.

The rule doesnot apply when you go with the bnk rate for primary and secondary market.

This is a far better explanation

kamsy4God:
I got 12.3% for 148days Secondary market from stanbic today.

good rate 1m will give u 50k

NL1960:
Zenith bank use a rate to be on the safe side. Banks that will use last week's rate of 13.5 to judge and bid 13.5 and above will likely fail. I hope my bank Stanbic succeeded for their 364 days. This one that i have not seen alert is somehow.

Alert gotten from Stanbic for 364 days tenor. Rate is 13.16%.

Olohunjedalo:
Why will anyone bid above the stop rate sir?

The stop rate is not known prior to the bid. The reason it is called auction and bids are invited. If the stop rate is known and the amount to be offered is also known, all banks will bid the stop rate. Since last week's stop rate was 13.5, some banks might be tempted to think it will go higher thereby bidding above last week's stop rate.

NL1960:
Alert gotten from Stanbic for 364 days tenor. Rate is 13.16%.

Finally,Stanbic is King...
Excellent rates.
Time to open an account with them.....But I'm only worried about their limited branches in Lagos..
What do you think.?

Gavrelino123:
Finally,Stanbic is King...
Excellent rates.
Time to open an account with them.....But I'm only worried about their limited branches in Lagos..
What do you think.?

I think their branch spread is fine. Banks then were just opening branches anyhow without thinking. You go to some areas, you will see about 3 branches of one bank on a street. Walk in now and you will see the halls empty. Banking has advanced. These days, banking is by technology. I have only visited my branch or entered any branch of stanbic thrice this year. First was to renew my ATM card, the second was to fill a form for TB and the third to fill another form for TB which was Monday this week. Wetin i dey go do for branch when i have ATM card and Internet Banking.

Gavrelino123:
Finally,Stanbic is King...
Excellent rates.
Time to open an account with them.....But I'm only worried about their limited branches in Lagos..
What do you think.?

They now have a fair share of branches compared to Standard Chartered, lol.
Also, their customer support is top notch.

NL1960:
The stop rate is not known prior to the bid. The reason it is called auction and bids are invited. If the stop rate is known and the amount to be offered is also known, all banks will bid the stop rate. Since last week's stop rate was 13.5, some banks might be tempted to think it will go higher thereby bidding above last week's stop rate.

oh, I get it now .
Thanks

DInkMan:
They now have a fair share of branches compared to Standard Chartered, lol.
Also, their customer support is top notch.

Real top notch. I do not go to my branch when i have issues even for ATM debit without dispense. I just send a mail to their customercare and the issue is resolved.

NL1960:
I think their branch spread is fine. Banks then were just opening branches anyhow without thinking. You go to some areas, you will see about 3 branches of one bank on a street. Walk in now and you will see the halls empty. Banking has advanced. These days, banking is by technology. I have only visited my branch or entered any branch of stanbic thrice this year. First was to renew my ATM card, the second was to fill a form for TB and the third to fill another form for TB which was Monday this week. Wetin i dey go do for branch when i have ATM card and Internet Banking.

Thanks
..What are the necessary documents needed to open a STANBIC IBTC account..?
How long does it take to complete the process.?
Would you prefer Stanbic IBTC Over FIRST BANK.?
What hierarchical value can you rate STANBIC IBTC over other commercial banks.?

Gavrelino123:
Thanks
..What are the necessary documents needed to open a STANBIC IBTC account..?
How long does it take to complete the process.?
Would you prefer Stanbic IBTC Over FIRST BANK.?
What hierarchical value can you rate STANBIC IBTC over other commercial banks.?

(1) You can send a mail to their customercare(check their website for this and phone number of their branches) and they will tell you the documents based on the type of account you want to open. I opened my present current account when it was still Chartered Bank. Chartered Bank later became CharteredIBTC and now StanbicIBTC.

(2) All these years i have operated an account have been with Stanbic. My kids accounts are also there as iam very comfortable with their services. So i will likely be biased if iam to compare with First Bank.

(3) I only opened a Savings account last two years with GTB because Stanbic was not close to my village which was making it difficult to withdraw cash during Christmas period especially when ATMs are down. GTB has a branch close to my village. So when ATMs are down, i can withdraw from across the counter. Prior to then, i did not have any other account with any other bank.

NL1960:
(1) You can send a mail to their customercare(check their website for this and phone number of their branches) and they will tell you the documents based on the type of account you want to open. I opened my present current account when it was still Chartered Bank. Chartered Bank later became CharteredIBTC and now StanbicIBTC.

(2) All these years i have operated an account have been with Stanbic. My kids accounts are also there as iam very comfortable with their services. So i will likely be biased if iam to compare with First Bank.

(3) I only opened a Savings account last two years with GTB because Stanbic was not close to my village which was making it difficult to withdraw cash during Christmas period especially when ATMs are down. GTB has a branch close to my village. So when ATMs are down, i can withdraw from across the counter. Prior to then, i did not have any other account with any other bank.

God Bless you bro....
..I will just have to visit one of their branches on Monday for effective clarity.

DInkMan:
They now have a fair share of branches compared to Standard Chartered, lol.
Also, their customer support is top notch.

Thanks,i will visit them on monday.
They are the leading team in TB..!
Lol..Stand Chartered,FCMB & Unity Bank are categorized the same.........Sky Bank and sterling bank Hmmmm,I won't comment.

Gavrelino123:
Thanks
..What are the necessary documents needed to open a STANBIC IBTC account..?
How long does it take to complete the process.?
Would you prefer Stanbic IBTC Over FIRST BANK.?
What hierarchical value can you rate STANBIC IBTC over other commercial banks.?

Two passports and a valid ID card with a minimum deposit of 5k for a savings account.
I just opened one two days ago and i didn't spend up to 10mins with them. My acc number was sent via e-mail and text msg the following morning by 7:06am
First Bank is a bank i use and love so much but i opened stanbic just for TB cos of their recent rates.

Please I hope the next auction at the primary market is Wednesday, September 26. I just want to be guided.

vexing:
Please I hope the next auction at the primary market is Wednesday, September 26. I just want to be guided.

No. It is likely October 3.

Skye Bank...Hmmmm
Are customers deposits safe.?
well,thank God for NDIC
This is serious and quite troublesome. I don't know how the stakeholders will accomodate this sad news.
https://www.thecable.ng/breaking-cbn-revokes-skye-banks-license/amp?__twitter_impression=true

Apitch:
Two passports and a valid ID card with a minimum deposit of 5k for a savings account.
I just opened one two days ago and i didn't spend up to 10mins with them. My acc number was sent via e-mail and text msg the following morning by 7:06am
First Bank is a bank i use and love so much but i opened stanbic just for TB cos of their recent rates.

I opened mine with 1k and they are very good when it comes to investments. Their staff know about tbills unlike some money banks

Gavrelino123:
Thanks
..What are the necessary documents needed to open a STANBIC IBTC account..?
How long does it take to complete the process.?
Would you prefer Stanbic IBTC Over FIRST BANK.?
What hierarchical value can you rate STANBIC IBTC over other commercial banks.?

For me, u cant compare the two. ibtc beats fbn anytime anyday. intelligent staff that know about investments well. i have fbn n gtb too, but ibtc beats them both. my opinion

Gavrelino123:
Skye Bank...Hmmmm
Are customers deposits safe.?
well,thank God for NDIC
This is serious and quite troublesome. I don't know how the stakeholders will accomodate this sad news.
https://www.thecable.ng/breaking-cbn-revokes-skye-banks-license/amp?__twitter_impression=true

�� I have some money there ooh.....

Thank God for NDIC if not ......

I hope they won't restrict transactions in the bank on monday cos a lot of people will be pulling out there funds...

Enough is enough.

zamirikpo:
�� I have some money there ooh.....

Thank God for NDIC if not ......

I hope they won't restrict transactions in the bank on monday cos a lot of people will be pulling out there funds...

Enough is enough.

Come bank with Zenith Sir.

michealekene:
Come bank with Zenith Sir.

Zenith is a very strong bank but I will port to stanbic or first bank immediately I have access to my funds.

NL1960:
No. It is likely October 3.

Exactly, I was told the auction is Oct. 3 at Stanbic bank yesterday and I was asked to visit the bank Early on Oct. 2 to invest.

zamirikpo:
�� I have some money there ooh.....

Thank God for NDIC if not ......

I hope they won't restrict transactions in the bank on monday cos a lot of people will be pulling out there funds...

Enough is enough.

That's it....All customers deposits are insured with NDIC.
https://www.mediahelm.com.ng/2018/09/dont-panic-your-money-is-intact-cbn.html?m=1
But to be on the safe side,you have appear to the nearest Skye Bank closest to you first thing on monday morning and withdraw all your funds..
Hope you didn't fall for that their 13% Fixed deposit when TB dropped to 10% early this year.?

Gavrelino123:
That's it....All customers deposits are insured with NDIC.
https://www.mediahelm.com.ng/2018/09/dont-panic-your-money-is-intact-cbn.html?m=1
But to be on the safe side,you have appear to the nearest Skye Bank closest to you first thing on monday morning and withdraw all your funds..
Hope you didn't fall for that their 13% Fixed deposit when TB dropped to 10% early this year.?

I did ooh.....though it had matured since August, I was targeting 14% or 15% before I transfer to stanbic. As I speak I have tried to do transfer since yesterday but it's not working even to load credit of 200bucks no work.

Fingers crossed till Monday. I believe funds are safe but whether I can transfer all my money out on monday is a different issue. They may start telling us one story about restriction on amount u can withdraw....etc.

zamirikpo:
I did ooh.....though it had matured since August, I was targeting 14% or 15% before I transfer to stanbic. As I speak I have tried to do transfer since yesterday but it's not working even to load credit of 200bucks no work.

Fingers crossed till Monday. I believe funds are safe but whether I can transfer all my money out on monday is a different issue. They may start telling us one story about restriction on amount u can withdraw....etc.

the cbn has inject 350 bn

Gavrelino123:
That's it....All customers deposits are insured with NDIC.
https://www.mediahelm.com.ng/2018/09/dont-panic-your-money-is-intact-cbn.html?m=1
But to be on the safe side,you have appear to the nearest Skye Bank closest to you first thing on monday morning and withdraw all your funds..
Hope you didn't fall for that their 13% Fixed deposit when TB dropped to 10% early this year.?

I saw this coming long a go and when I mentioned it on this forum, pple said a lot of things that nothing will happen to anybody's money. Yes agreed nothing will happen to anybody's money but I will rather Bank with a bank I know I don't need to worry my brain of eventuality though nothing is sure in life, is only death that is sure but I will rather minimize my risk by banking with good standing banks. Now pple will be worried about their money, some will not have rest of mind this weekend so why should we go tru all these when we can read the fingers on the wall. I mourned with the shareholders of the bank cos they are at the receiving end, may God give them strength to bear the loss. It took my mind to intercontinental, oceanic and phb.

Gavrelino123:
That's it....All customers deposits are insured with NDIC.
https://www.mediahelm.com.ng/2018/09/dont-panic-your-money-is-intact-cbn.html?m=1
But to be on the safe side,you have appear to the nearest Skye Bank closest to you first thing on monday morning and withdraw all your funds..
Hope you didn't fall for that their 13% Fixed deposit when TB dropped to 10% early this year.?

I saw this coming long a go and when I mentioned it on this forum, pple said a lot of things that nothing will happen to anybody's money. Yes agreed nothing will happen to anybody's money but I will rather Bank with a bank I know I don't need to worry my brain of eventuality though nothing is sure in life, is only death that is sure but I will rather minimize my risk by banking with good standing banks. Now pple will be worried about their money, some will not have rest of mind this weekend so why should we go tru all these when we can read the fingers on the wall. I mourned with the shareholders of the bank cos they are at the receiving end, may God give them strength to bear the loss. It took my mind to intercontinental, oceanic and phb.

I knew there was something very wrong with that skye bank when i transfered money to someone and he got credited 5 days later.

ahiboilandgas:
the cbn has inject 350 bn

Almost a biln dollars, why will the foreign reserve not go down.

zamirikpo:
I did ooh.....though it had matured since August, I was targeting 14% or 15% before I transfer to stanbic. As I speak I have tried to do transfer since yesterday but it's not working even to load credit of 200bucks no work.

Fingers crossed till Monday. I believe funds are safe but whether I can transfer all my money out on monday is a different issue. They may start telling us one story about restriction on amount u can withdraw....etc.

@Ugmama, kindly read the quote above��
Thanks.

I got 11% for 91 days from GTB . Debit alert on Thursday. Thanks to the person who posted that we could send a mail to our account officer . It totally worked I didn't have to step into the banking hall for the transaction.