Franky826:
Hello house.

Please who's using FBN MMF here?

Since 1st of April that FBN adjusted accrued interest for compounding and payment for others, they've not paid anything (at least on my own account/dashboard). This is quite strange. Is it cos of the Covid-19? Please any other FBN MMF subscriber experiencing same?

how did you get access to the online platform? I've been requesting for access without response.

iamjane:

what's this number please

modified

okay I get that's the account number of the First Trustees SIMMF. How did you get that number?

if that's how to top up how do we redeem?

I got the number from StanbicIBTC bank customer care when I wanted to subscribe the period I opened my account with them back then. I was going to tell you to call them to get it but then I already have it so what's the essence. However, it concerns money and investment so if you are in doubt the best people to consult after this is Stanbic IBTC Asset/ Fund Management for guidance.

On redemption, it can only be possible online if you have set your security question and answer. The default online maximum withdrawal amount for an individual is N1m and can be increased to N2.5M.

taiwoliu:
how did you get access to the online platform? I've been requesting for access without response.

How did you open your account with them. Is it through app or you went to their branch? If you open it in their branch you should have a Relationship Manager(RM). If you haven't gotten your online access details, contact your RM for it.

Franky826:
Hello house.

Please who's using FBN MMF here?

Since 1st of April that FBN adjusted accrued interest for compounding and payment for others, they've not paid anything (at least on my own account/dashboard). This is quite strange. Is it cos of the Covid-19? Please any other FBN MMF subscriber experiencing same?

Sorry, I can tell that for those reinvesting the interest, it has been added to the capital already. I can't tell about those that are to receive interest in their account sha.

Though we still have a problem with them crediting the account with a subscription/deposit we did around 30th of march.

Have sent a mail to them. You should do same or contact the RM for your issue..

freeman67:



Sorry, I can tell that for those reinvesting the interest, it has been added to the capital already. I can't tell about those that are to receive interest in their account sha.

Though we still have a problem with them crediting the account with a subscription/deposit we did around 30th of march.

Have sent a mail to them. You should do same or contact the RM for your issue..

Thank you very much. Normally my interest are reinvested which has been rightly done. But since the reinvestment no other interest has been paid. That's the anomaly I'm trying to point out. On my dashboard the accrued interest since after reinvestment is 0.00. today is 6th of a new Month.

That's what I'm trying to say.

taiwoliu:
how did you get access to the online platform? I've been requesting for access without response.

I use the FBN QUEST APP

I guess its available for iPhone and Android users.

freeman67:


How did you open your account with them. Is it through app or you went to their branch? If you open it in their branch you should have a Relationship Manager(RM). If you haven't gotten your online access details, contact your RM for it.

opened online (no app as at the time) but I have a RM I interacted with, didn't bother until now cos I indicated roll-over in my opening form.

Thanks

Franky826:


I use the FBN QUEST APP

I guess its available for iPhone and Android users.

alright.... will most likely download it. Thanks

Franky826:



Thank you very much. Normally my interest are reinvested which has been rightly done. But since the reinvestment no other interest has been paid. That's the anomaly I'm trying to point out. On my dashboard the accrued interest since after reinvestment is 0.00. today is 6th of a new Month.

That's what I'm trying to say.

I'm experiencing the same issue. No interest since reinvestment. I thought its due to the end of quarter paperwork or stuff like that. It'll be wise to contact the RM

And again their fund history site has been displaying blank spaces for yield since 1st

freeman67:



I got the number from StanbicIBTC bank customer care when I wanted to subscribe the period I opened my account with them back then. I was going to tell you to call them to get it but then I already have it so what's the essence. However, it concerns money and investment so if you are in doubt the best people to consult after this is Stanbic IBTC Asset/ Fund Management for guidance.

On redemption, it can only be possible online if you have set your security question and answer. The default online maximum withdrawal amount for an individual is N1m and can be increased to N2.5M.

ok thanks alot

freeman67:


Do you use any mobile or internet banking app/ platform of any bank? If yes, just do a transfer to First Trustees/SIMMF account with no: 9202476223. Make sure you quote your own StanbicIBTC Money Market Account No and your name in the narration/transaction details space before sending.

They will credit you when they get the alert.

Just e account number in the narration no name.

Eddee:


Just e account number in the narration no name.

I just explained what I do always and I've had no complaints since I have been doing. Thanks

taiwoliu:
opened online (no app as at the time) but I have a RM I interacted with, didn't bother until now cos I indicated roll-over in my opening form.

Thanks

UWC, since you now feel the need to have it you can just contact your RM about. I'm sure it will be created and the detail forwarded to you

Franky826:



Thank you very much. Normally my interest are reinvested which has been rightly done. But since the reinvestment no other interest has been paid. That's the anomaly I'm trying to point out. On my dashboard the accrued interest since after reinvestment is 0.00. today is 6th of a new Month.

That's what I'm trying to say.

Ok I now understand you. Most times after their quarterly or end of the year settlement their services becomes slower than usual. They get things sorted as they get complaints..

freeman67:


I just explain what I do always and I've had no complaints since I have been doing. Thanks

No offense bro, I understand you perfectly. Just saying the official instructions from Stanbic insist that only e account number be in the narration. I use stanbic too, may move very soon if rates drop lower than yesterday's 5.6 something.

MrDiligence:


I'm experiencing the same issue. No interest since reinvestment. I thought its due to the end of quarter paperwork or stuff like that. It'll be wise to contact the RM

same here

freeman67:



UWC, since you now feel the need to have it you can just contact your RM about. I'm sure it will be created and the detail forwarded to you

noted

Franky826:
Hello house.

Please who's using FBN MMF here?

Since 1st of April that FBN adjusted accrued interest for compounding and payment for others, they've not paid anything (at least on my own account/dashboard). This is quite strange. Is it cos of the Covid-19? Please any other FBN MMF subscriber experiencing same?

Same here, my quarter interest paid out already ,but nothing is adding since April 1st. I'm sure they are being overwhelmed with work at the moment, hopefully before week end,it will be sorted.

freeman67:



I got the number from StanbicIBTC bank customer care when I wanted to subscribe the period I opened my account with them back then. I was going to tell you to call them to get it but then I already have it so what's the essence. However, it concerns money and investment so if you are in doubt the best people to consult after this is Stanbic IBTC Asset/ Fund Management for guidance.

On redemption, it can only be possible online if you have set your security question and answer. The default online maximum withdrawal amount for an individual is N1m and can be increased to N2.5M.

So, how do you increase your maximum withdrawal to 2.5M?

Desanta:


So, how do you increase your maximum withdrawal to 2.5M?

You can either do that through the internet portal yourself or you consult the bank.

MrDiligence:

I saw 7.0% n their website. Has it changed?

I'm sure what you saw on the website is VGIF calculator where u see number 7 written on the assumed rate. That is not the rate it's a calculator where you can put different rate and help you calculate what your fund value will be at a particular period using a specific rate and amount . As earlier posted the rate is benchmark with SDF which is 8.5%. Except SDF changes its rate can not change . VGIF rate is not like the MMF that has daily value. The current rate - 8.5% has been so since 2019.

emmasoft:

I'm sure what you saw on the website is VGIF calculator where u see number 7 written on the assumed rate. That is not the rate it's a calculator where you can put different rate and help you calculate what your fund value will be at a particular period using a specific rate and amount . As earlier posted the rate is benchmark with SDF which is 8.5%. Except SDF changes its rate can not change . VGIF rate is not like the MMF that has daily value. The current rate - 8.5% has been so since 2018.

Okthanks for this explanation. I'm actually beginning to consider VGIF that's why I was doing some background check and stumbled on the 7%. You're right its on the calculator so I thought that's the present rate. Once again, thanks

emmasoft:

I'm sure what you saw on the website is VGIF calculator where u see number 7 written on the assumed rate. That is not the rate it's a calculator where you can put different rate and help you calculate what your fund value will be at a particular period using a specific rate and amount . As earlier posted the rate is benchmark with SDF which is 8.5%. Except SDF changes its rate can not change . VGIF rate is not like the MMF that has daily value. The current rate - 8.5% has been so since 2018.

@ emmasoft
Am actually considering investing in VGIF but please I have a question: what is guaranteed:- is it the capital invested or the starting interest rate meaning the rate will remain the same throughout the period of my investment
Awaits your response pls. Thanks

akinola98:


@ emmasoft
Am actually considering investing in VGIF but please I have a question: what is guaranteed:- is it the capital invested or the starting interest rate meaning the rate will remain the same throughout the period of my investment
Awaits your response pls. Thanks

Principal and interest guaranteed. except SDF is changed by the cbn no change on the interest rate. There is also an additional interest that adds to the 8.5%, however, this depends on excess profit of the fund in a given year. From experience, for the past six years there has always been extra interest apart form the guaranteed rate. Personally I will recommend it for anyone at this time. Kindly use the account opening link or call my phone number on my signature to help my ministry ie meet target. Thank you.

MrDiligence:


Okthanks for this explanation. I'm actually beginning to consider VGIF that's why I was doing some background check and stumbled on the 7%. You're right its on the calculator so I thought that's the present rate. Once again, thanks

You welcome. Kindly use the link on my signature to open the account to help my ministry. My contact too is on my signature for call or chat.

mumayo:
same here

I Wonder what is causing this procrastination from fbn quest not to have added accrued interests since 1st April, today being 9th of April, it's enough time for them to have done the needful. I'm sure stanbic and others are updating their investments , pretty bad, no email or text from them for explanation. I sent them emails, but they bounced back. Did anybody get to hear from them

Akin3891:


I Wonder what is causing this procrastination from fbn quest not to have added accrued interests since 1st April, today being 9th of April, it's enough time for them to have done the needful. I'm sure stanbic and others are updating their investments , pretty bad, no email or text from them for explanation. I sent them emails, but they bounced back. Did anybody get to hear from them

Same experience I have with FbnQuest but I’m giving them time though.

Investment one is even worse as they have neither paid the quarterly interest nor added any new interest since this month. Everything is just stagnant. No interest paid, re-invested or accrued.

ARM is up to date. Re-invested the interest on the evening of April 1 and new accrued interest already reading.

I’m just watching them closely.
Let’s say the Pandemic and lockdown is affecting their services. Hopefully, normalcy will return soon.

Pls house, I am wondering why stanbic ibtc mmf is yet to Re invest my accrued interest (quarterly), and today is 9th already.
NB I started in December 2019, although they occasional reinvest interest in piece meal.,
So I want to know if it's the same with other stanbic mmf investors.
Thanks

Eddee:


Just e account number in the narration no name.

I put my E account number with my name. Have not receive any notification from Stanbic management fund.

Though I put small money in other to test run online top up process. Am still waiting for email notification from them.

emmasoft:


Principal and interest guaranteed. except SDF is changed by the cbn no change on the interest rate. There is also an additional interest that adds to the 8.5%, however, this depends on excess profit of the fund in a given year. From experience, for the past six years there has always been extra interest apart form the guaranteed rate. Personally I will recommend it for anyone at this time. Kindly use the account opening link or call my phone number on my signature to help my ministry ie meet target. Thank you.

Ok. Thanks ..... but what is SDF??

Agbeni33:




I put my E account number with my name. Have not receive any notification from Stanbic management fund.

Though I put small money in other to test run online top up process. Am still waiting for email notification from them

When did you do this? I have used them as recent as Saturday to top up. It shouldn't take more than 1 business day if done on a working day. Worse case scenario, they will return the money to the account it originated from.