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wellsaid:
How long does it take Stanbic to add funds to the MMF Account. I used their Mobile App to subscribe for more funds since 8.30am this morning but it is yet to reflect on my MMAF Balance .

This has been resolved. My MMF Account was updated around 5pm.

RealityShot:
OTP= one Time Pin
it is sent to the phone number you used to open the fund acct.

you need to check that phone and use the OTP next time.

no need to register with quickTeller.

change your password to numbers only..Yes!

NOW.. YOU CAN scan and/or send proof of transfer to your account officer.

ASk him about that. Its another option.

How long does it take Stanbic to add funds to the MMF Account. I used their Mobile App to subscribe for more funds since 8.30am this morning but it is yet to reflect on my MMAF Balance .

adegokekemi:
Thanks for giving me your time to explain. I really appreciate

Concerning the OTP u need activate your phone number to be able to receive otp.

follow this instructions

Are u a secondary school teacher? Get a huge QUESTION BANK for the subject(s) your are teaching!

Call text or WhatsApp on 07051209131

.

Get a huge QUESTION BANK for the subject(s) your are teaching!
Call text or WhatsApp on 07051209131

.

Unlike TB u can easily add more funds and withdraw some parts of your funds.
Also MMF got better rate than TB on the average over a period of time.

Good afternoon all, please which day of the week do you think is best for one who wants to buy TB on the secondary market? For example is like favorable to buy from the secondary market on Mondays or Fridays? Which day of the week is it highly probable to have the best interest rate in these banks or is it that there is no correlation between the days of the week and interest rates?

I use Stanbic and Diamond.

Second question is do you get your interest upfront when you buy from the secondary market? I will appreciate a quick answer. Thanks

Lol

Partnerbiz2:
How sound is this please

Feelamong et al?

Well compounding N45m @ an average of 18% interest rate over 12 years becomes N283m after the 12th year

RealityShot:
you have all the facts RIGHT.
what you need is confidence in the system.

pri or sec is same thing.

if you have the money now and next primary is in 2 weeks .. Go for Secondary if you see a rate close enough to your target rate.

primary market is slow and requires waiting to know the resultant rate.
But secondary market is instant and rate is known BEFORE you invest.

except u want a full 364Dy tenor SEC is best for beginners

Thank u so much and God bless you for the clarification and advice.

skydiver01:
See below:

@skydiver1: divine help shall always locate whenever u need one IJN. Thank u soo much for this.

vitality22:
Bros, I honestly think you will do yourself a lot of good if you take tme to read fRom previous pages. These things have been discussed over and over, again and again. My candid advice though.

I have done that, can't just recall what I read about it. Lot of pages with loads of info. Please I just need someone to help by highlighting the points

Good evening house. Please I don't know how significant this question am about to ask is but I am going to ask any way.

What advantages do trading the secondary market have over the primary market and vice versa. I assume trading the secondary market is more convenient compared with trading the primary even though u sometimes get lower rates. Apart from the interest rate which other factor(s) would make waiting for the primary auction be a better decision than simply patronizing TBills in the secondary market?

I will appreciate it is anyone can please enlighten me. Thank u.

House is 17% for 360 days secondary market okay...? The amount I want to fix is below 500k.

freeman67:
A lot have been said but if you want more review..I will let you know that I have done TB with FirstBank, Stanbic,GTB, Sterlin and Diamond. The worst of all I have used is Diamond. Stanbic is the best but I like FBN because of their ability to help you roll over investment @maturity if you choose that option when investing.

GTB and Sterlin are just OK. @ least you now know. In Diamond if you want to do FIxed Deposit you be told to open a HIDA account instead later you will be told you can no longer withdraw money from that HIDA account unless you open another diamond account to transfer the money to. They will frustrate your primary market bid and give you secondary market rate that is almost equal to other bank's Fixed Deposit rate.

Yeee !! .. thats so sad. "wickedness in high places" as some people would call it. Thank God I asked this question. Please what's the minimum capital for Stanbic and FBN?

torres2:
Diamond bank you don't want to die early according to review here.

Dust your passport/ voters card move to FBN and/or Stanbic on Monday. Open an account with them.

Primary auction: Stanbic is the King
Secondary market: FBN no dey carry last.

cooldudeng:
I don't want to bore you with a long strong, so I will try and make it brief using my own personal experience.

I bank with Diamond and I've always wanted to invest in T-bills through them. However, their rates are not encouraging in addition to their tactical ways of persuading me not to invest in T-bill. A novice would have been easily fooled.

I have a bit of banking experience, spent 3.5 years with two good banks, so I'm no novice to their ways. Banks enjoy "float" on current accounts which they lend out to "borrowing" customers at over 18%. Mind you, there's is no cost of funds to the bank since they are paying the depositors nothing on current account deposits and when they do (for FD and saving accounts), it's always marginal.

In summary, banks would rather keep your money with them. However, when you invest in T-bills, the funds are not available for the bank to use or earn on. Hence they will give you all the silly excuses on earth when you give them an instruction.

Based on this thread, I had to open new bank accounts with both banks - FBN and Stanbic and I tried investing through both (this week). Despite the fact that my funds had been sitting with FBN for a week prior to bidding, they still came back with a silly excuse of not getting approval from HQ. Again, I suspect the branch does not want to lose deposit, at least not for the next two weeks since they are now promising and begging that they will make next bid

Stanbic only got the funds Monday and by Tuesday, a lien was already on the funds and just yesterday I was debited.

On a lighter note, Stanbic wasn't one of the banks i worked for

torres2:
Diamond bank you don't want to die early according to review here.

Dust your passport/ voters card move to FBN and/or Stanbic on Monday. Open an account with them.

Primary auction: Stanbic is the King
Secondary market: FBN no dey carry last.

Thank you so much sharing your experience. I so much appreciate this. By God's grace I will be at Stanbic and First Bank Monday morning .

Please, I must have read it someone here on this thread but I forgot, what's the MINIMUM capital for TBILLs for FBN and Stanbic?

torres2:
Diamond bank you don't want to die early according to review here.

Dust your passport/ voters card move to FBN and/or Stanbic on Monday. Open an account with them.

Primary auction: Stanbic is the King
Secondary market: FBN no dey carry last.

Wow ,... Thanks for the quick response and also the note of warning , highly appreciated.

Good evening to u all. I have been following this wonderful thread for quite a while and I must say I appreciate the efforts of gurus in order to make this thread one f financial enlightenment.

Please I have a question, as regards purchasing of TBILLs either in the primary or secondary market, can u put DIAMOND BANK on the same level with STANBIC and FIRST BANK? I use DIAMOND BANK but I see that stanbic and First bank happen to be the most recommended banks for TBILLs here.

If DIAMOND is good to go, I think I will start investing in TBILLS right away.

sa

wellsaid:
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Call, Text or WhatsApp 08164485380 for pick up.

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If u have one u want to sell at a very fair price please call, text or whatsapp 08164485380.
Thanks

sa

wellsaid:
sa

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Sa