henrinco:
Please does FBN quest have account number so that one can Transfer money for mutual funds?

Yes it has. Contach FBN Quest customer care to send the account number to you.

henrinco:
Please does FBN quest have account number so that one can Transfer money for mutual funds?

bikerboy1:


I need the account number too to top up via online transfer.

I heard it is faster this way

In order to fund your investment account, please make payments into the account details displayed below:
BANK: FIRST BANK
ACCOUNT NAME: FBN MONEY MARKET FUND/INVESTMENT ONE FINANCIAL SERVICES
ACCOUNT NUMBER: 2027499421

Kindly forward copies of the payment evidence to ccu@fbnquestmb.com for prompt booking of funds.

Thank you for choosing FBNQuest Asset Management.

Boyhood:



In order to fund your investment account, please make payments into the account details displayed below:
BANK: FIRST BANK
ACCOUNT NAME: FBN MONEY MARKET FUND/INVESTMENT ONE FINANCIAL SERVICES
ACCOUNT NUMBER: 2027499421

Kindly forward copies of the payment evidence to ccu@fbnquestmb.com for prompt booking of funds.

Thank you for choosing FBNQuest Asset Management.

DOnt forget to add you ID no

Boyhood:



In order to fund your investment account, please make payments into the account details displayed below:
BANK: FIRST BANK
ACCOUNT NAME: FBN MONEY MARKET FUND/INVESTMENT ONE FINANCIAL SERVICES
ACCOUNT NUMBER: 2027499421

Kindly forward copies of the payment evidence to ccu@fbnquestmb.com for prompt booking of funds.

Thank you for choosing FBNQuest Asset Management.

This is still old school, Stanbic doesn’t need you to send any copy of payment. Just indicate ur MMF account number on the comment/reference section. And your account is updated.

Good morning house,
Please, what's the maximum amount one can redeem online on stanbic mmf?

emmyjaysnr:
Good morning house,

Please, what's the maximum amount one can redeem online on stanbic mmf?

Mine was 1million but I later increased it to 2.5million through the mobile app. You should check to see if you will be able to do more than that if need be.

Sending inflow to FBNQuest via FBNMobile hasn't been successful lately, the app keeps saying special characters not allowed. Is any other person experiencing this?

Kayman358:
Sending inflow to FBNQuest via FBNMobile hasn't been successful lately, the app keeps saying special characters not allowed. Is any other person experiencing this?

It is what it is.
No special characters like coma(,) or full stop (.) in your narration.

skyangel:


Mine was 1million but I later increased it to 2.5million through the mobile app. You should check to see if you will be able to do more than that if need be.

Thanks.

I recently invested in Stanbic Ibtc's MMF, but the interest paid does not correspond with the interest rate advertised on their website. Is this the same with Fbnquest because I am considering moving over to them? Anyone with experience using both investment houses? Thanks

the percentage are not fixed. if you aren't sure you can walk into the bank and complain.

I invested 4million in stanbic MMF and am credited 1233 everyday, is it right? How can I know d rates. Am new to this

Ok thanks. I contacted them and they said the variance is attributable to taxes on the MMF. Is this the same with other investment houses?

eghos24:
the pqercentage are not fixed. if you aren't sure you can walk into the bank and complain.

At the current rate of 11.94%, it is meant to be 1308 and they remit 1233. This is exactly what I am complaining about. Is this experience similar with Fbnquest, Axamansard or United Capital?

olypharm:
I invested 4million in stanbic MMF and am credited 1233 everyday, is it right? How can I know d rates. Am new to this

OK I just studied it, the rate is 11.94% so u do 11.94 /36500 to get 1308 which is supposed to b d daily rate, but if u login to d app u will see recent transaction, dey deducted 75naira per day before but now it has increased to 94naira per day. Below is a screenshot of the deduction.

olypharm:
OK I just studied it, the rate is 11.94% so u do 11.94 /36500 to get 1308 which is supposed to b d daily rate, but if u login to d app u will see recent transaction, dey deducted 75naira per day before but now it has increased to 94naira per day. Below is a screenshot of the deduction.

Deducted or added.

The thing is MMF rate fluctuating now, Could be 11.9% today, tomorrow 12.3% and this affect how much you get credited.

You could check with the customer care to be sure

olypharm:
OK I just studied it, the rate is 11.94% so u do 11.94 /36500 to get 1308 which is supposed to b d daily rate, but if u login to d app u will see recent transaction, dey deducted 75naira per day before but now it has increased to 94naira per day. Below is a screenshot of the deduction.

For clarity, what you see on the screenshot was the gain you got from the money market instrument stanbic bought on your behalf. It's not any deduction they made on your account. If it were so, they should also deduct the amount above the #75.

I hope this helps.

volonte:
Ok thanks. I contacted them and they said the variance is attributable to taxes on the MMF. Is this the same with other investment houses?

MMFs are not tax deductible. That is why it has little or no risk attached. The descripancy of the interest you see is net. so that means the difference you see is the Fund Manager pay.

You can try axa. what is quoted on their site is what they give and currently it's 12.12%. Hope this helps

Stanbic will display higher interest rates to entice you but secretly and indirectly take it by unnecessary charges like vat, management fees and all the rest.

See how I got 150

Please contact this novice

Screenshots of his number attached

[1quote author=nna777 post=81720720]

MMFs are not tax deductible. That is why it has little or no risk attached. The descripancy of the interest you see is net. so that means the difference you see is the Fund Manager pay.

You can try axa. what is quoted on their site is what they give and currently it's 12.12%. Hope this helps[/quote]

Thanks, this is very helpful.

Pls I want to invest #100k in mmf . How do I calculate the daily interest if invested wit Stanbic.

Please help

[quote author=nuggybabe post=81736750]Pls I want to invest #100k in mmf . How do I calculate the daily interest if invested wit Stanbic.
You get between 25-30 naira daily

michellez:



What's their current rate?

AMMF 11.40% net as at today. That is no deduction.

hello distinguish investors, recently I started operating a Money fund account with UNITED CAPITAL just about 2 weeks ago so I want to cash out/completely withdraw all my money by closing my account. Please how do I go about getting it done?
Secondly, it there any penalty involved?

Patriot9:
hello distinguish investors, recently I started operating a Money fund account with UNITED CAPITAL just about 2 weeks ago so I want to cash out/completely withdraw all my money by closing my account. Please how do I go about getting it done?
Secondly, it there any penalty involved?

Login to your account and click redeem and follow through. There will be penalty since your money was not kept in the fund for 30 days. It's the usual practice with MMF Managers. However, the rate of the penalty may differ.

Patriot9:
hello distinguish investors, recently I started operating a Money fund account with UNITED CAPITAL just about 2 weeks ago so I want to cash out/completely withdraw all my money by closing my account. Please how do I go about getting it done?
Secondly, it there any penalty involved?

Why do u want to leave tho. Could it be the rates?

pls house I want to withdraw from my stanbic mutual funds it will be mature for withdrawal on 14/9/19
pls house I a guide line on how to withdraw when it mature, THANKS

senit:
pls house I want to withdraw from my stanbic mutual funds it will be mature for withdrawal on 14/9/19
pls house I a guide line on how to withdraw when it mature, THANKS

Log in to your mobile app, on the menu, select fund, select redemption, answer your secret question, enter amount & confirm. You're good to go. Ensure you do that before 12noon to get your account credited same day otherwise, next day except weekends