kendsage:
I clear observation of MMF rates of Stabic, Investment one, ARM and Axa shows that FBN had higher rates this quarter (from January to March 2019) averaging above 14%. I have not really monitored United capital but will do so this 2nd quarter.

Seconded.

Olonseh:
Good evening house, please has anyone had to wait for 48 hours or more after initiating additional subscription on stanbic mmf before the transaction value hits their account? I did on friday before the 12 noon cut of time and I'm yet to get value for that transaction as I write. I also observed that the accrued interest over the weekend (Sat and Sun) was not added to my balance on monday as against the usual practice. Anyone with such experience should please drop a word or two. Thanks.

I also deposited on Axa on Friday, haven't been credited too..

kendsage:
I clear observation of MMF rates of Stabic, Investment one, ARM and Axa shows that FBN had higher rates this quarter (from January to March 2019) averaging above 14%. I have not really monitored United capital but will do so this 2nd quarter.

United Capital rates were okay too, especially in the last month of Q1.

Lxdd:


I also deposited on Axa on Friday, haven't been credited too..

Pls I advise people not to invest on Fridays because of the on coming weekend and the inability to reach any customer service .my humble opinion to prevent extra anxiety

Has anyone tried online redemption with FBNQuest mmf via their app? How was it? Is it like Stanbic?

Kindly send them an email. That should solve the problem.

Olonseh:
Good evening house, please has anyone had to wait for 48 hours or more after initiating additional subscription on stanbic mmf before the transaction value hits their account? I did on friday before the 12 noon cut of time and I'm yet to get value for that transaction as I write. I also observed that the accrued interest over the weekend (Sat and Sun) was not added to my balance on monday as against the usual practice. Anyone with such experience should please drop a word or two. Thanks.

GonFreecss1:


United Capital rates were okay too, especially in the last month of Q1.

hello,I bought 1000 shares with first registers at 33 naira per share in 2007,please how much is it worth in today's value? ..thank you

usaration:
hello,I bought 1000 shares with first registers at 33 naira per share in 2007,please how much is it worth in today's value? ..thank you

The share of what did you buy?

dammybrite:
Kindly send them an email. That should solve the problem.

Thanks, I sent them an Email yeterday morning but I'm yet to get any feedback.

amaham:

Pls I advise people not to invest on Fridays because of the on coming weekend and the inability to reach any customer service .my humble opinion to prevent extra anxiety

I did my own top-up on Monday 1-4-19 early in d morning and up till now it has not bn remitted to my stanbic mmf platform after sending various mails and calls. I just call dem now to remind dem nd I was told it has bn remitted.

Olonseh:


Thanks, I sent them an Email yeterday morning but I'm yet to get any feedback.

Same happened to me with AXA Mansard, an E-mail and some days resolved the issue. Exercise a lil more patience.

Can you teach me how to go about the mutual fund stuff

kendsage:
I clear observation of MMF rates of Stabic, Investment one, ARM and Axa shows that FBN had higher rates this quarter (from January to March 2019) averaging above 14%. I have not really monitored United capital but will do so this 2nd quarter.

So pls guys what happens now that we just finish a quarter, is it time for the investment house add the previously earned interest to the capital and reinvest or wot time exactly will they do that?

Fbnquest rocks

eddyakinrinde:


So pls guys what happens now that we just finish a quarter, is it time for the investment house add the previously earned interest to the capital and reinvest or wot time exactly will they do that?

They'll add the accrued interest to your original capital and reinvest all if you chose the reinvest option while opening the account.

brane:
Has anyone tried online redemption with FBNQuest mmf via their app? How was it? Is it like Stanbic?

Yes. I have tried it

kendsage:
I clear observation of MMF rates of Stabic, Investment one, ARM and Axa shows that FBN had higher rates this quarter (from January to March 2019) averaging above 14%. I have not really monitored United capital but will do so this 2nd quarter.

I'm disappointed with ARM, they pay 1% lower than the rate on their website.

brane:
Has anyone tried online redemption with FBNQuest mmf via their app? How was it? Is it like Stanbic?

Their online redemption is worst.... I applied for 60k redemption since April 1st and up till this very time I'm yet to be credited......

I had to send them a nasty mail comparing them with AXA Mansard and Stanbic

Hello all,
After following this thread for a while, I downloaded the Stanbic app and opened a mutual fund account with 5k. I've been sent my log in details which I used to login. I've noticed that my daily interest is #1.66 which is rather disappointing. Please can someone help me do the math? Thank you.

Yem0350:

Yes. I have tried it

How long did it take to credit your account?

Someone is already complaining.

emmas2k570:


Their online redemption is worst.... I applied for 60k redemption since April 1st and up till this very time I'm yet to be credited......

I had to send them a nasty mail comparing them with AXA Mansard and Stanbic

That's not encouraging at all.

It's giving a wrong signal to intending investors.

Let's see how it goes. Please update us.

brane:


How long did it take to credit your account?

Someone is already complaining.

Same day or next day

emmas2k570:


Their online redemption is worst.... I applied for 60k redemption since April 1st and up till this very time I'm yet to be credited......

I had to send them a nasty mail comparing them with AXA Mansard and Stanbic

I guess delay was due to the end of the quarter. By tomorrow, you should get your fund.
However, what mode of redemption did you used?

Yem0350:

Same day or next day

Good to know.

The worried man should relax.

Perhaps some in-house bookkeeping is ongoing.

My accrued interest is still zero.

It takes 3 to 5 business days

emmas2k570:


Their online redemption is worst.... I applied for 60k redemption since April 1st and up till this very time I'm yet to be credited......

I had to send them a nasty mail comparing them with AXA Mansard and Stanbic

The best way for topping up FBNQuest account is to transfer money to their account number sent to you when you first registered. Then take a screen shot and send mail to their customer care as well as the person who sent you initial mail and those copied

emmas2k570:
FBN really needs to step up their game as regards their system......

I transferred 50k to my FBN MMF since 27th march and its yet to reflect in my account.

I was like how about my interest since the day i made payment will it be added once the payment reflects she said she wasn't sure that she will get back to me soon.

eddyakinrinde:


So pls guys what happens now that we just finish a quarter, is it time for the investment house add the previously earned interest to the capital and reinvest or wot time exactly will they do that?

It depends on the instruction given to them at the point of opening MMF account. FBN has cleared the accrued interest for individuals that indicated "pay dividend at the end of the quarter". Very soon they will receive the alert of their dividend into the account number provided. While those who chose " reinvest dividend" will have their accrued dividend rolled over and reinvested with initial capital.

Beeps:
The best way for topping up FBNQuest account is to transfer money to their account number sent to you when you first registered. Then take a screen shot and send mail to their customer care as well as the person who sent you initial mail and those copied

Seconded. With FBN you have to follow instructions to the letter. Whenever you make a transfer, ensure that you reference your MMF account number on the transfer form. Then scan it and send as a mail to their customer service. I prefer to use the same mail trail at the initial account opening period.

234ng44uk:


I'm disappointed with ARM, they pay 1% lower than the rate on their website.

FBNQUest pays exactly the rate displayed on their website on a daily basis. NO MAGOMAGO

Butterscotch92:
Hello all,
After following this thread for a while, I downloaded the Stanbic app and opened a mutual fund account with 5k. I've been sent my log in details which I used to login. I've noticed that my daily interest is #1.66 which is rather disappointing. Please can someone help me do the math? Thank you.

1.66×100×365÷5,000 =12.11%
Not bad.

kendsage:


FBNQUest pays exactly the rate displayed on their website on a daily basis. NO MAGOMAGO

Thanks for your response. Can you confirm their present rate? Do they have an app?

Hi everyone, I just checked stanbic's rate for yesterday 2/4/2019 and it stated 13.04% but I was paid 12.14%. Is their an explanation for this? Who else has observed this disparity between rates stated and rates paid? I don't even know if this has been the practice or just a glitch as I've never bothered to check.

PS : My top was eventually credited yesterday but was not backdated to Friday even after confirmation from one of their reps that fund was received that same friday. I'm beginning to have second thoughts about stanbic, maybe it's time to try out other investment houses.