Pls how do I get my principle n my interest being invested back to my account. If I In vest with stanbic ibtcmoney market fund pls help

onyechimereze1:
Good day y'all, i have really learnt from reading through the pages. but i have a couple of questions
1)Does diamond bank have any of this mmf, i would like to know how it works pls
2)kyc is know your customer from what i read here, how does it really works??
3) Are there any hidden charges,taxes or deductions on mmf when one wants to withdraw his/her money?

thanks again guys.

On ur first qtn, why not check their website out, kyc is just to update ur profile, probably u hv changed address, married, phone nos, nxt of keen and stuffs like dt of wch u present documents to bck up ur claim. On ur 3rd qtn, when I redeemed my money from fbn mutual fund, I noticed no deduction, so can't say if any hidden money was taken or not

onyechimereze1:
Good day y'all, i have really learnt from reading through the pages. but i have a couple of questions
1)Does diamond bank have any of this mmf, i would like to know how it works pls
2)kyc is know your customer from what i read here, how does it really works??
3) Are there any hidden charges,taxes or deductions on mmf when one wants to withdraw his/her money?

thanks again guys.

stanbic bank kyc : they will visit your stated address to confirm the address is correct, typing with the experience I had with them.

lilmaydee:
I went to Stanbic ibtc branch yesterday, the lady told me the rate is 16.8% that I need to open an account with them to make it easier for me to transfer the funds and to do kyc. I've opened the account today. Waiting for my account number. Thanks to everyone that have Made major contributions to this thread.

i opened an account with them too and they have done the kyc. I didn't even ask for the rate as someone already told me its abt 16%.

Although i am having an issue with them; whenever i try to redeem on the app, it asks for a secret answer. The funny thing is that no question is put there and i can't remember the security question i filled when opening the account.

To everyone: is it possible to subscribe by transferring directly to the mutual fund account or one must follow the subscription process in the app?

Edit: on opening my mutual fund account, the lady at the CC told me to transfer the initial 5k to an account number (which shows that it is stanbic MMF when i was abt to pay online) but after some emails from stanbic asset mgt i noticed they always quoted an E-Account Number? Is this my real account number?

grosy:
Pls how do I get my principle n my interest being invested back to my account. If I In vest with stanbic ibtcmoney market fund pls help

i know therr is a subscription option in the app, so i guess you have to redeem first and then subscribe. I am not sure tho, it may be possible to send an instruction to the bank to roll over

haibe:
i opened an account with them too and they have done the kyc. I didn't even ask for the rate as someone already told me its abt 16%.

Although i am having an issue with them; whenever i try to redeem on the app, it asks for a secret answer. The funny thing is that no question is put there and i can't remember the security question i filled when opening the account.

To everyone: is it possible to subscribe by transferring directly to the mutual fund account or one must follow the subscription process in the app?

Edit: on opening my mutual fund account, the lady at the CC told me to transfer the initial 5k to an account number (which shows that it is stanbic MMF when i was abt to pay online) but after some emails from stanbic asset mgt i noticed they always quoted an E-Account Number? Is this my real account number?

that's your mmf account number, it's different from your savings/current account number

Empress2014:
that's your mmf account number, it's different from your savings/current account number

Do u mean the one called E account number is my MMF acct number? Or the one i initially deposited the 5k to? Thanks

IamZod:
OK. So registered for Stanbic MMF just December last year.
But I'm trying to redeem some funds due to some pressing need, but it says I can't redeem funds now.
What do I do please?

from the app? Is it saying you haveny registered for online redemption?

Kemade2007:


U have to wait for 30days or redeem with penalty

Irrespective he shouldn't be getting that error right? So long he can afford to pay the penalty, redemption should be possible anytime

haibe:


Do u mean the one called E account number is my MMF acct number? Or the one i initially deposited the 5k to? Thanks

E-account is your mmf account number, stanbic mmf don't take cash deposit, you will fill a transfer form and the fund will be transfer from your main account to mmf account and the other option is topping up online, i hope you understand this explanation.

Empress2014:
E-account is your mmf account number, stanbic mmf don't take cash deposit, you will fill a transfer form and the fund will be transfer from your main account to mmf account and the other option is topping up online, i hope you understand this explanation.

Thanks i do understand.

What i just tried doing was transfer to the E account no (mutual fund) from my access bank mobile app and it says the account number is invalid. By top up, do you mean subscription through the app where it directs me to an interswitch platform for online payment?

haibe:


Thanks i do understand.

What i just tried doing was transfer to the E account no (mutual fund) from my access bank mobile app and it says the account number is invalid. By top up, do you mean subscription through the app where it directs me to an interswitch platform for online payment?

yes there is a top up option through the app, you can't fund it through another bank app and the other option is to go to stanbic bank . If you want to top up online, it will direct you to interswitch page and you can input your access bank atm details there and get to pay it from access to your mmf account that way.

Empress2014:
yes there is a top up option through the app, you can't fund it through another bank app and the other option is to go to stanbic bank . If you want to top up online, it will direct you to interswitch page and you can input your access bank atm details there and get to pay it from access to your mmf account that way.

thank u

What is meant by bid and offer price of #1. I can see this under fund prices in the app?

haibe:
i opened an account with them too and they have done the kyc. I didn't even ask for the rate as someone already told me its abt 16%.

Although i am having an issue with them; whenever i try to redeem on the app, it asks for a secret answer. The funny thing is that no question is put there and i can't remember the security question i filled when opening the account.

To everyone: is it possible to subscribe by transferring directly to the mutual fund account or one must follow the subscription process in the app?

Edit: on opening my mutual fund account, the lady at the CC told me to transfer the initial 5k to an account number (which shows that it is stanbic MMF when i was abt to pay online) but after some emails from stanbic asset mgt i noticed they always quoted an E-Account Number? Is this my real account number?

I'm also a novice, I will be going there tomorrow to fund my Stanbic IBTC account so that they can transfer the money into my MMF account.

haibe:
from the app? Is it saying you haveny registered for online redemption?

I am not using the app.
Just logging in with chrome browser.
I however see not redeemable online.

IamZod:

I am not using the app.
Just logging in with chrome browser.
I however see not redeemable online.

did you fill all the forms, especially the small "online redemption form" during registration?

you may have to fill it again and send it or go to their office and fill it there to activate online redemption.

Anyone using first bank for mmf?

I plan to open one soon. Thanks

Good morning all.

Please assumimg i invest 1m# into the Stanbic mmf, please how much will iget at the end of 365 days.

Help me with the calculation, though trying to work it out on my own, but i need more wise heads as the saying: two wise heads are better than one.

Thank you in Advance.

Hello Chiemenike,

Yield on Mutual Funds are calculated on a daily basis. (more info here) https://fman.com.ng/mutual-fund-price-list/

They quote the rate daily so it'll be difficult to determine the prevalent interest rate for the month and year respectively.

So, the best you can do is to take it one day at a time or work with the month average rate. Most of the fund managers have the luxury of online account that enables you track the funds performance daily.

Also lookout for their monthly fact sheets.

Cheers.

Chiemenike:
Good morning all.

Please assumimg i invest 1m# into the Stanbic mmf, please how much will iget at the end of 365 days.

Help me with the calculation, though trying to work it out on my own, but i need more wise heads as the saying: two wise heads are better than one.

Thank you in Advance.

MMF interest differs daily i.e
The interest rate is not fixed, it differs daily.....but u can assumedly use 15% to project what your earning will be like
15÷100/12 * 1m = monthly
15÷100/2*1m= 6 months
15÷100 * 1m = 12 months

Note* The 15% being used is assumed, of a truth the minimum daily interest i have ever noticed is 16.38%
For real your profit will be more than the predicted value cos it compound interest.

After doing a top up in the Stanbic online platform, how long does it take to reflect? I did a top up and have been debited but this is yet to reflect in my online portal

Hello house, does anyone have another direct contact of any staff of Arm mmf, I subscribed for mmf on their online platform since sat 6th January and I have since not gotten a response from them, no email at all to acknowledge my order even though money has been debited from my account.
I have sent countless emails to enquiries@arminvestmentcenter.com and placed calls but still no response. would appreciate if anyone has an idea how to resolve this

jossy26:
Hello house, does anyone have another direct contact of any staff of Arm mmf, I subscribed for mmf on their online platform since sat 6th January and I have since not gotten a response from them, no email at all to acknowledge my order even though money has been debited from my account.
I have sent countless emails to enquiries@arminvestmentcenter.com and placed calls but still no response. would appreciate if anyone has an idea how to resolve this

I think we both have a similar question.

Hello house: As the question above, does it normally take so long for top ups on the online portal to reflect? I am asking because i have done a transfer through the portal since yesterday and have been debited but this is yet to reflect? Is this normal? I only need to know it this is normal so that i wont bother sending any message to their customer care. Thanks

haibe:


I think we both have a similar question.

Hello house: As the question above, does it normally take so long for top ups on the online portal to reflect? I am asking because i have done a transfer through the portal since yesterday and have been debited but this is yet to reflect? Is this normal? I only need to know it this is normal so that i wont bother sending any message to their customer care. Thanks

its normal..

it is stated that it will be updated within 48 hrs.

so please wait 48 hrs..
(remember its the beginning of the year, some staff just resumed on monday; they may have back logs of requests to sort through)

Anybody operating equity fund here

I read that the FBN smart beta equity fund beat the nse average. Does anyone know how often they payout?

Anyone with an idea of the best Mutal funds one can invest in around ?

Any ideas of how Abacus from Investment one works?

Thanks all

prestige2013:




MMF interest differs daily i.e
The interest rate is not fixed, it differs daily.....but u can assumedly use 15% to project what your earning will be like
15÷100/12 * 1m = monthly
15÷100/2*1m= 6 months
15÷100 * 1m = 12 months

Note* The 15% being used is assumed, of a truth the minimum daily interest i have ever noticed is 16.38%
For real your profit will be more than the predicted value cos it compound interest.

How much is the daily profit on 5 million naira investment on Stanbicibtc MMF? Are you aware too that capital is 97% guarantee, unlike Treasury Bills where capital is %99 guarantee. Apparently one can lose capital on MMF?

I have not received my login details till date

What's happening?

Is it because I opened an online instant account? and not the regular one that I have to provide the utility bill et al?

pls i need someone to educate me on stanbic ibtc fund investement