Psychodavidovic:


Yes. Your account currently has a limit of 200k until you visit the nearest branch amd complete the KYC form with a valid ID, passport photograph and light bill (Nepa, PHCN etc)

Though with FBN MMF, I did everything online. Scanned all necessary documents to them.

234ng44uk:


You subscribed on 02/04/19 and fund reflect same day. Only axamansard can do that. Others would take at least 48hours.
Regarding interest, you don't get interest paid the same day you fund an account.

My money reflected 2days ago

Emedu:


Though with FBN MMF, I did everything online. Scanned all necessary documents to them.

I did the same thing too with stanbic.
I have never paid any of their bank a visit and there is no restrictions on my account.

Emedu:


Though with FBN MMF, I did everything online. Scanned all necessary documents to them.

I visited in person because i no dey use my account play. Had to make sure plus i was close to a branch.

234ng44uk:


You subscribed on 02/04/19 and fund reflect same day. Only axamansard can do that. Others would take at least 48hours.
Regarding interest, you don't get interest paid the same day you fund an account.

That's so not true. Have been operating my money market account with them since last year and Axa has never done same day subscription for me. Even when I subscribe as early as 8am that day. I have tried with the app and bank transfer with my name and account id and it's always the same Story.

For me Stanbic still remains the best, same day subscription and redemption.

FBNQuest Capital is terrible. Subscription takes a minimum of 48hours, that's if u are lucky a enough to do it on a weekday and not too close to the weekend (Friday), in that case it takes more than three days. Redemption is even worse, sometimes u have to follow up with emails and calls. It's borderline terrible.

r4blessing:

For me Stanbic still remains the best, same day subscription and redemption.

FBNQuest Capital is terrible. Subscription takes a minimum of 48hours, that's if u are lucky a enough to do it on a weekday and not too close to the weekend (Friday), in that case it takes more than three days. Redemption is even worse, sometimes u have to follow up with emails and calls. It's borderline terrible.

These are the type of info needed,people with first hand infor on these mutual not their marketers. I dont have problem with ARM but for the purpose of diversification, I need to add another investment house and from the look of things Stanbic is likely my next Bstop. Exept there are objections If there is any acct officer of theirs in the house I dont mind being contacted.

mjay2018:


These are the type of info needed,people with first hand infor on these mutual not their marketers. I dont have problem with ARM but for the purpose of diversification, I need to add another investment house and from the look of things Stanbic is likely my next Bstop. Exept there are objections If there is any acct officer of theirs in the house I dont mind being contacted.

I use ARM and FBNQuest.
Overall, I'd say they're both good especially FBN quest.

with FBN, i've always had the same day subscription or at most the next day if the payment was made late.

The trick for me is that i never send my payment evidence to their customer care email where it would take too long to sort out, i send it to my account officer's and he acknowledges the receipt of the email and follows up on the subscription.

Even when i subscribe early enough on a friday, my fund gets utilized that day though it may not reflect on my account, but everything gets updated accordingly on Monday.

The last subscription i made was yesterday at 9:39am Nigeria time, i received an email acknowledgement at 10am and by today (sat) my account is updated with interest.

Try FBNQuest, they've got good rates and i've not had any issues with them so far.

Etimocracy:

Definitely yes! I've practically never been to a physical stanbic bank. I've had no issues whatsoever with the online account.
However, there seem to be some restriction on the online account ( there is a limit of 250 thousand subscription).
Here's the link https://instantaccount.stanbicibtc.com:9663/?ref=3093A632BEB3BC
Thus, u can open the online account and proceed to the bank for KYC to lift the restriction if u wish to invest more than the stated amount. I hope I've done justice to your question.

I appreciate your response

Psychodavidovic:


Yes. Your account currently has a limit of 200k until you visit the nearest branch amd complete the KYC form with a valid ID, passport photograph and light bill (Nepa, PHCN etc)

In absence of any utility bill what other options are available

DBestDoc:

I use ARM and FBNQuest.
Overall, I'd say they're both good especially FBN quest.

with FBN, i've always had the same day subscription or at most the next day if the payment was made late.

The trick for me is that i never send my payment evidence to their customer care email where it would take too long to sort out, i send it to my account officer's and he acknowledges the receipt of the email and follows up on the subscription.

Even when i subscribe early enough on a friday, my fund gets utilized that day though it may not reflect on my account, but everything gets updated accordingly on Monday.

The last subscription i made was yesterday at 9:39am Nigeria time, i received an email acknowledgement at 10am and by today (sat) my account is updated with interest.

Try FBNQuest, they've got good rates and i've not had any issues with them so far.

You are right! Send the payment evidence to an account offi

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r4blessing:


That's so not true. Have been operating my money market account with them since last year and Axa has never done same day subscription for me. Even when I subscribe as early as 8am that day. I have tried with the app and bank transfer with my name and account id and it's always the same Story.

For me Stanbic still remains the best, same day subscription and redemption.

FBNQuest Capital is terrible. Subscription takes a minimum of 48hours, that's if u are lucky a enough to do it on a weekday and not too close to the weekend (Friday), in that case it takes more than three days. Redemption is even worse, sometimes u have to follow up with emails and calls. It's borderline terrible.

You can't say someone else's experience is not true based on yours

I use stanbic and Axa mansard and I can say stanbic has frustrated me so much + it takes them forever to reply emails. It has also taken a week for me to redeem once , I have had good experiences with them but the bad ones outweigh the good

Etimocracy:

Definitely yes! I've practically never been to a physical stanbic bank. I've had no issues whatsoever with the online account.
However, there seem to be some restriction on the online account ( there is a limit of 250 thousand subscription).
Here's the link https://instantaccount.stanbicibtc.com:9663/?ref=3093A632BEB3BC
Thus, u can open the online account and proceed to the bank for KYC to lift the restriction if u wish to invest more than the stated amount. I hope I've done justice to your question.

Pls can I withdraw my fund through stanbic mobile app?

michaelogunleye:

In absence of any utility bill what other options are available

Utility bill is not limited to Electricity bill alone... It could also be water bill, phone bill if you have a land line in your residence or even rent receipt. That said, for Stanbic IBTC in the absence of utility bill you can print your statement of account carrying your address from your bank and submit to them.

CONFIRMED. Also FBN quest offers the best MMF rate.

DBestDoc:

I use ARM and FBNQuest.
Overall, I'd say they're both good especially FBN quest.

with FBN, i've always had the same day subscription or at most the next day if the payment was made late.

The trick for me is that i never send my payment evidence to their customer care email where it would take too long to sort out, i send it to my account officer's and he acknowledges the receipt of the email and follows up on the subscription.

Even when i subscribe early enough on a friday, my fund gets utilized that day though it may not reflect on my account, but everything gets updated accordingly on Monday.

The last subscription i made was yesterday at 9:39am Nigeria time, i received an email acknowledgement at 10am and by today (sat) my account is updated with interest.

Try FBNQuest, they've got good rates and i've not had any issues with them so far.

U misunderstood me, he said Axa not reflecting same day is very unusual. Key word "very unusual". That was what I was correcting. It's 100% possible that it's experience with them has been good, that doesn't mean Axa has the best terms like he purported.

For stanbic, I stated clearly " for me" denoting that it's my own experience with them, I know yours is clearly different. But in a scale of 1-10 and the number of people complaining here, I still think Stanbic services is still better except for Afrinvest (they are way better than any of the other fund managers)

AbbyE:


You can't say someone else's experience is not true based on yours

I use stanbic and Axa mansard and I can say stanbic has frustrated me so much + it takes them forever to reply emails. It has also taken a week for me to redeem once , I have had good experiences with them but the bad ones outweigh the good

DBestDoc:

I use ARM and FBNQuest.
Overall, I'd say they're both good especially FBN quest.

with FBN, i've always had the same day subscription or at most the next day if the payment was made late.

The trick for me is that i never send my payment evidence to their customer care email where it would take too long to sort out, i send it to my account officer's and he acknowledges the receipt of the email and follows up on the subscription.

Even when i subscribe early enough on a friday, my fund gets utilized that day though it may not reflect on my account, but everything gets updated accordingly on Monday.

The last subscription i made was yesterday at 9:39am Nigeria time, i received an email acknowledgement at 10am and by today (sat) my account is updated with interest.

Try FBNQuest, they've got good rates and i've not had any issues with them so far.

We that dont have account officers nko.

What do we do??

I'm new on this thread and find it interesting. Thanks for all the info shared. Based on what I've read, looks like it's common to have more than one MMF manager.

Stanbic looks like my option 2. Anyone has an idea of their USD MMF? Please advise process to subscribe, rates, and experience.

BTW, I find it strange that you send proof of subscription to account officers or customer service team. I use Investment One and I've never had to notify them of subscription. I simply include my I.D in my transfers and I get email notifications of all details, reflecting in my account at the same time, usually same day or next.

Hello all, I am doing ARM and some others stuffs, I will so much appreciate if anyone can help tell me about the FBNQuest

Mizwisdom:
I tried Guaranteed mutual fund in stanbic last year, I just forgot the money there, I was shocked to see a profit of N5.00 last week let me go and liquidate fast fast

do not liquidate...
Just change to MONEY MARKET FUND.

I enjoy at least 1% every month! (with peace of mind)

#others you have all heard.

JapD:
I'm new on this thread and find it interesting. Thanks for all the info shared. Based on what I've read, looks like it's common to have more than one MMF manager.

Stanbic looks like my option 2. Anyone has an idea of their USD MMF? Please advise process to subscribe, rates, and experience.

BTW, I find it strange that you send proof of subscription to account officers or customer service team. I use Investment One and I've never had to notify them of subscription. I simply include my I.D in my transfers and I get email notifications of all details, reflecting in my account at the same time, usually same day or next.

lol... Stanbic is over cool.
I have not spoken or contacted my account officer since April last year.

And THAT was because I just wanted to cut corners.

Simply visit a branch and register.

Afterwards, just login to the website and TOP UP with your ATM.
Shikinah!

If I want, I can comfortably top up right now.
By tomorrow morning I will see an additional subscription email.

I won't even login to check.. I know it's there.


All those you hear talking about bank deposit and transfers like wahala.

If I do transfer, that's when account officer is needed.

FBN... don't come and cry here later shaa

RealityShot:
lol... Stanbic is over cool.
I have not spoken or contacted my account officer since April last year.

And THAT was because I just wanted to cut corners.

Simply visit a branch and register.

Afterwards, just login to the website and TOP UP with your ATM.
Shikinah!

If I want, I can comfortably top up right now.
By tomorrow morning I will see an additional subscription email.

I won't even login to check.. I know it's there.


All those you hear talking about bank deposit and transfers like wahala.

If I do transfer, that's when account officer is needed.

FBN... don't come and cry here later shaa

stop hating... I use FBN and I have been enjoying there operations since last year.. Excellent customer care too

lakesguy:
stop hating... I use FBN and I have been enjoying there operations since last year.. Excellent customer care too

hmm.. Be careful O!

where did you see me "hate" anything?

when i was crying because of FBN, why did you not help then?

[

RealityShot:
hmm.. Be careful O!

where did you see me "hate" anything?

when i was crying because of FBN, why did you not help then?

crying about what?

lakesguy:
crying about what?

its now you want to know, right?

forget it... Stanbic IBTC solved my case since 2017.

bye.

those who have ear/eyes let them know.

RealityShot:
lol... Stanbic is over cool.
I have not spoken or contacted my account officer since April last year.

And THAT was because I just wanted to cut corners.

Simply visit a branch and register.

Afterwards, just login to the website and TOP UP with your ATM.
Shikinah!

If I want, I can comfortably top up right now.
By tomorrow morning I will see an additional subscription email.

I won't even login to check.. I know it's there.


All those you hear talking about bank deposit and transfers like wahala.

If I do transfer, that's when account officer is needed.

FBN... don't come and cry here later shaa

I wonder how topping up by bank transfers and bank deposits translate to liking wahala.

These other options are there for a reason. It doesn't have to be an ATM top up alone 'cause some people do not own ATM cards. The last time i ever owned a Nigerian Bank ATM card was 7years ago.

It's unfortunate you had a not so good experience with these guys but really, they are very good.

r4blessing:


That's so not true. Have been operating my money market account with them since last year and Axa has never done same day subscription for me. Even when I subscribe as early as 8am that day. I have tried with the app and bank transfer with my name and account id and it's always the same Story.

For me Stanbic still remains the best, same day subscription and redemption.

FBNQuest Capital is terrible. Subscription takes a minimum of 48hours, that's if u are lucky a enough to do it on a weekday and not too close to the weekend (Friday), in that case it takes more than three days. Redemption is even worse, sometimes u have to follow up with emails and calls. It's borderline terrible.

I don't share your experience with axamansard, I still think they are the best in prompt service. I had same day funding and redemption. I fund my account multiple times by using my customer ID as payment reference. Although I have liquidated my fund with them in preference for FBN Quest for better rate. However, I don't enjoy the same prompt service anymore. It took 4 days to fund my account with FBN Quest and interest started on 5th day compared to same day with Axamansard. If it takes a similar long period of time to redeem my fund with them when I need it then I'll lose money for all the days my fund has been idle. This will most likely cancel out the 0.6% interest rate difference.

Here's a summary of my experience so far:
Axamansard: Same day funding and redemption, low interest rate currently at 12.7%. They pay exactly what they quote on their website.
ARM: Slow funding, it could take up to a week to see fund reflect in your account however, interest is paid for all the days since fund was acknowledged. 48-72hrs redemption, similarly, interest is paid for all the days since redemption activation to payment day. My major turn off with ARM was that they quote a certain higher interest on their website but pay lower rate comparable to axamansard.
FBN Quest: It took forever to accept my KYC documents. I tried their edge app and application was approved. Payment from their edge app attract extra charges, you have to use a debit card of your bank is not on the list of the financial institution of their payment partner. Surprisingly First Bank isn't on that list. I paid by card and it took 48 hours for fund to reflect on my account, interest payment started on 3rd day after payment. No interest were paid for all the 2 days fund spent with them since acknowledgement of receipt. No experience with redemption yet but I expect it to be slow, and interest will most likely not be paid for the number of days it took from redemption request to eventual payment. Their rate is good though, they offer the best rate, currently 13.3%
Stanbic IBTC: Everything with them appears to be "in-between". Their rate is lower than FBN Quest but higher than those of axamansard and ARM. They don't offer same efficiency as axamansard but are better than FBN Quest.
Summary:
I'll choose axamansard for short term investment but FBN Quest for long term investment as their higher interest rate will compensate for all the time fund is idle with them. I'll choose Stanbic if I'm not really sure of what I wanted. These are my opinion from personal experience, you don't need to agree with it but I know someone will find it useful.

I just invested to stanbic mutual fund with N450K am still anxious of what the profit will be

senit:
I just invested to stanbic mutual fund
with N450K
am still anxious of what the profit will be

You'll get around 160 Naira daily.

Modified: 450,000×13%÷365=160

pls how did you arrive @#160.00 daily.
is this not too small