RealityShot:
it takes 48hours or more.

today is weekend so expect it to show monday, if it hasnt already

Thanks

It showed after 24 hours.

Kindly advise on the stanbic guaranteed fund. Is it reliable in terms of returns and risks to capital?

RealityShot:

take yesterday's balance and multipy by today's rate the divide by 365

Thanks for the information. am really grateful. Also apart from the interest, I also saw an additional subscription of #2.36 in my account which I didn't iniate myself. Do u have any info regarding this? thank you.

.

texas1:


Use quickteller . A receipt will be generated. Print it out or download soft copy to your system.


For the app
Download Stanbic Ibtc app from playstore
Click on open instant account
Input details as prompted (choose Mutual funds)
You ll be lead to quickteller website, where you can pay with you ATM.
Complete the process.
The only issue is that you are limited to transactions of about 200k only. If you want more, you ll need to visit their branch with: completed form (you can print online) , passport, utility bill, ID & prove of payment.

Cheers

Quickteller has started charging 10% of transactions for subscriptions if you do it via SIAM website. Using the app for subscriptions doesn't have that charge yet.

Please 3 quick questions:

If I tick the 'reinvest dividends' option would it affect the holding period of my units?

Also can I fund the account by paying cash over the counter? I don't have an account with them. Neither a current account.

After the 30-day holding period would my funds still be accuring interests or I have to re-apply?

Do I have to make a contribution to my account every month?

Tnx

afroxyz:
Please 3 quick questions:

If I tick the 'reinvest dividends' option would it affect the holding period of my units?

Also can I fund the account by paying cash over the counter? I don't have an account with them. Neither a current account.

After the 30-day holding period would my funds still be accuring interests or I have to re-apply?

Do I have to make a contribution to my account every month?

Tnx

1) it wont affect the holding period, the holding period starts counting from your first deposit.

2) you can fund your account by paying over the counter, but do well to input your name as the depositor.

3) After the 30 days holding period your funds will still be accruing interest, no need to reapply.

4) You can make contribution when ever you feel like.

Have you considered Stanbic IBTC dollar fund?

sabanageorge:
Just going to drop a tip here regarding doing the Eurobond investment with FBN Capital. Big tip: don't waste your time! It's not worth it.

Firstly, in order to send about 5000usd start capital to them, you will pay fx transfer fees of up to 24,000 naira, if not more. Not really settled down to calculate how much they've charged me so far for all range of reasons, but it's in the region of 25,000.
In addition to that, FBN capital ended up receiving 4950usd, not 5000usd. Apparently, further charges applied to the principal sum. I don't even know how that happened.

Now, even if you assume that this will rake in 18% annually (which as I have been informed by their Customer Care isn't even the case. I think they do in the region of 10% or so), all the charges subtracted from the base fee is already the money you want to make in a month, i.e. 0.18*363*5000/12 = ~27k or so. Using 363ngn exchange rate which is what I used to convert the dollars.

The way it looks, you are better off just doing the regular naira MMF which has very little bank charges associated with it. Or just keep your dollars in your domiciliary account.

Please who has dealt with first bank and knows how things work there.

I went to one of the branches to start off a mutual funds account. The lady was not too knowledgeable but took photocopies of my utility and ID. I also wrote an authorization for the amount I want to use for the mutual funds to be transferred. But I asked to what account since I did not fill any form. I was told a notification would be sent to me. Now the money has been debited and no firm.of communication whatsoever on my mutual fund account details.

Is this normal because I am.planning to storm the bank tomorrow.

afroxyz:
Please who has dealt with first bank and knows how things work there.

I went to one of the branches to start off a mutual funds account. The lady was not too knowledgeable but took photocopies of my utility and ID. I also wrote an authorization for the amount I want to use for the mutual funds to be transferred. But I asked to what account since I did not fill any form. I was told a notification would be sent to me. Now the money has been debited and no firm.of communication whatsoever on my mutual fund account details.

Is this normal because I am.planning to storm the bank tomorrow.

go to the fbn website or google fbncapital.

that is where they do mmfund. Any other fbn branch will just waist your time till you realise they can't help you open the account.

its even better you talk to the fbn capital rep via mail and they can show you how to open an mmfund account via mailing your scanned details..

i tried this and ran to ibtc later. Sorry

afroxyz
do you have an account with the normal fbank?

go everyday and if she doesnt open the mmf account in 3 days, request a return of your money immediately.

then go to fbn capital branch near you if you still want to stick with fbn mmf.

those guys played tango with my money for a whole month and i lost 2500 from charges they made on my deposit for new account opening

RealityShot:
go to the fbn website or google fbncapital.

that is where they do mmfund. Any other fbn branch will just waist your time till you realise they can't help you open the account.

its even better you talk to the fbn capital rep via mail and they can show you how to open an mmfund account via mailing your scanned details..

i tried this and ran to ibtc later. Sorry

I plan going to their asset management office tomorrow. But I want to go to the bank to clarify because the money has already been deducted from my account

afroxyz:


I plan going to their asset management office tomorrow. But I want to go to the bank to clarify because the money has already been deducted from my account

pls. Do ALL of the above.

i never liked slow pace of that bank.
they duped me into believing they would open an mmf account for me. Only to freeze account for two weeks after openning it without reason.

deal only with their asset management arm..otherwise, those marketers will play games with your money

afroxyz:


I plan going to their asset management office tomorrow. But I want to go to the bank to clarify because the money has already been deducted from my account

You don't even need to go just visit FBNQuest Website https://www.fbnquest.com/asset-management/our-products/mutual-funds/fbn-money-market-fund and fill the form on that page. A relationship manager will contact you within a day and you will fill and scan your documents to them. It's not necessary to go to their office. Regarding FBN branch that you went, I guess the person you met is naive about the process and even if he/she is not it is a long process going through that route.

Nevertheless, just contact FbnQuest and narrate your story to the relationship manager that will contact you. That was how I started my MMF with them.

Kayman358:


You don't even need to go just visit FBNQuest Website https://www.fbnquest.com/asset-management/our-products/mutual-funds/fbn-money-market-fund and fill the form on that page. A relationship manager will contact you within a day and you will fill and scan your documents to them. It's not necessary to go to their office. Regarding FBN branch that you went, I guess the person you met is naive about the process and even if he/she is not it is a long process going through that route.

Nevertheless, just contact FbnQuest and narrate your story to the relationship manager that will contact you. That was how I started my MMF with them.

Bros, the issue is that the money has been deducted from my account already

RealityShot:
pls. Do ALL of the above.

i never liked slow pace of that bank.
they duped me into believing they would open an mmf account for me. Only to freeze account for two weeks after openning it without reason.

deal only with their asset management arm..otherwise, those marketers will play games with your money

Thanks. Would go to the branch tomorrow, if I do not get any concrete answer I'm going to their asset management office to escalate the matter. The money has already been deducted from my account already

first bank staff don't know jack.

they made me waste my millions last year cos when I went there they directed to me their office told me they don't know anything about fbn capita

afroxyz:


Thanks. Would go to the branch tomorrow, if I do not get any concrete answer I'm going to their asset management office to escalate the matter. The money has already been deducted from my account already

their office is around constain as if u going to bode Thomas/ Eric Moore

Now,I need an answer to this: Should I go ahead to fill this Online Redemption Consent Form & Agreement(SIBTC Mutual Funds)?

austine4real:
their office is around constain as if u going to bode Thomas/ Eric Moore

Planning to go to the one @ keffi, Ikoyi

mansakhalifa:
Now,I need an answer to this: Should I go ahead to fill this Online Redemption Consent Form & Agreement(SIBTC Mutual Funds)?

If you want to be able to redeem online then yes you should.

@jayfierce Thanks,boss. Will do just that. Appreciate.

sabanageorge:
No. Are you doing that? How is it like? I could close my FBN and switch to stanbic if it's favorable.

There is no crime in running both.
Just a suggestion tho

sabanageorge:

These FBN guys have not been the best for me, honestly. I haven't even received login details.
I run the naira MMF with stanbic, but just don't have the full details about their dollar MMF.

And how has the experience been so far with the stanbic?

I'm thinking of pitching my tent there.

Can I just fill the forms and send to their e mail?
Or I MUST go to the bank

and besides, since when have you been waiting for the firstbank mmf login details?

Stanbic is very professional.

I made initial subscriptions and redeemed my fund without any hastle. I equally did additional subscription very easily. I did not even step into any stanbic branch for all these.

Customer support is amazing. Redemption is processed strictly under less than 5days.

I did everything on the stanbic mobile app.

sabanageorge:
Does anyone know how long it takes to get money off stanbic MMF after applying for online redemption?

It takes maximum of 5 working days, but from experience it took less than 24hrs. The redemption order was placed in the morning and by evening, the fund was already resting on account.