NewStats: 3,261,455 , 8,174,068 topics. Date: Thursday, 29 May 2025 at 10:37 AM 262n4q

Stanbic just stresses me out every last day of the month, especially on months that have 31days.

They just credited me double of my monthly earnings again, and this happens alot with my .
Now imagine it's someone who doesn't keep track of investments, they'd think it's the right figure until it gets corrected and then wahala will be doing back and forth with their CS people.

Basic calculation no suppose hard reach like this!

enque:
Stanbic just stresses me out every last day of the month, especially on months that have 31days.

They just credited me double of my monthly earnings again, and this happens alot with my .
Now imagine it's someone who doesn't keep track of investments, they'd think it's the right figure until it gets corrected and then wahala will be doing back and forth with their CS people.

Basic calculation no suppose hard reach like this!

Had the same issue last year up till early this year. They called it a system glitch, but it fixed itself later. That’s why I said they aren’t as error-free as you think…

enque:
Stanbic just stresses me out every last day of the month, especially on months that have 31days.

They just credited me double of my monthly earnings again, and this happens alot with my .
Now imagine it's someone who doesn't keep track of investments, they'd think it's the right figure until it gets corrected and then wahala will be doing back and forth with their CS people.

Basic calculation no suppose hard reach like this!

To avoid the stress, try to check a day or two after End of Month. That's what I normally do.

Femivaughn:


the percentage yield is the major difference, do you mean what they invest in?

is it compounded monthly or annually?

Need clarity on this:

When they say penalty for early withdrawal is 20 % in income earned for withdrawals under 30 days... I understand it to mean that the full principal amount is not touched....that the fee is deducted from the accrued interest for that period only...

Say if principal is 600k and has accrued say 8k in interest, the fee becomes 20% of 8k but I'd get my 600k in full.

Is my thinking correct?

Is there anyone that has experienced something otherwise?
What %age does your fund manager charge for early withdrawal?

Someone has to be very careful coz na when e happen...them go bring clauses wey your eyes no even see before

emmasoft:


All fund managers Stanbic inclusive pay accrued interest quarterly. However, if you opt for reinvestment of interest, Stanbic reinvest accrued interest monthly.

are you sure about this Sir?

It doesn’t look like for me

Rhyah:
Need clarity on this:

When they say penalty for early withdrawal is 20 % in income earned for withdrawals under 30 days... I understand it to mean that the full principal amount is not touched....that the fee is deducted from the accrued interest for that period only...

Say if principal is 600k and has accrued say 8k in interest, the fee becomes 20% of 8k but I'd get my 600k in full.

Is my thinking correct?

Is there anyone that has experienced something otherwise?
What %age does your fund manager charge for early withdrawal?

Someone has to be very careful coz na when e happen...them go bring clauses wey your eyes no even see before

Yes, you are correct for MMF.

Rhyah:
Need clarity on this:

When they say penalty for early withdrawal is 20 % in income earned for withdrawals under 30 days... I understand it to mean that the full principal amount is not touched....that the fee is deducted from the accrued interest for that period only...

Say if principal is 600k and has accrued say 8k in interest, the fee becomes 20% of 8k but I'd get my 600k in full.

Is my thinking correct?

Is there anyone that has experienced something otherwise?
What %age does your fund manager charge for early withdrawal?

Someone has to be very careful coz na when e happen...them go bring clauses wey your eyes no even see before

I second @Freeman67's yes. This is how all MMFs operate, irrespective of the Fund manager. It's one of the reasons they say capital is guaranteed in MMF investment.

bharkarh:
are you sure about this Sir?

It doesn’t look like for me

Check your transaction list. At the end of each month, there is always a subscription transaction equal to the accrued interest for that month.

Other Fund Managers do theirs at the end of the quarter.

Rhyah:
Need clarity on this:

When they say penalty for early withdrawal is 20 % in income earned for withdrawals under 30 days... I understand it to mean that the full principal amount is not touched....that the fee is deducted from the accrued interest for that period only...

Say if principal is 600k and has accrued say 8k in interest, the fee becomes 20% of 8k but I'd get my 600k in full.

Is my thinking correct?

Is there anyone that has experienced something otherwise?
What %age does your fund manager charge for early withdrawal?

Someone has to be very careful coz na when e happen...them go bring clauses wey your eyes no even see before

SO long it's MoneyMarketFunds (MMF), your capital is always preserved hence if they would touch anything, it's from your earned interest.

In other words, you are RIGHT, your 600,000 remains intact 100%

emmasoft:


Check your transaction list. At the end of each month, there is always a subscription transaction equal to the accrued interest for that month.

Other Fund Managers do theirs at the end of the quarter.

Stanbic IBTC does theirs at end of every quarter.

That's end of

March, 
June, 
September, 
December

Please
How can I reach Stanbic mmf customer

I have an additional subscription that has refused to reflect since on the 30th of march

owenabuka:
Please
How can I reach Stanbic mmf customer

I have an additional subscription that has refused to reflect since on the 30th of march

If you made transfer with your e- on that date after noon it suppose to reflect yesterday.
I hope it's not with Opay and not also with your ATM card.

You can reach them via [email protected]

bassdow:
Stanbic IBTC does theirs at end of every quarter.

That's end of

March, 
June, 
September, 
December

Not correct. With Stanbic, it's exactly as @emmadot said in the post you quoted.

owenabuka:
Please
How can I reach Stanbic mmf customer

I have an additional subscription that has refused to reflect since on the 30th of march

Seems the holidays, combined with the weekend is yet to wear off.

Have someOne who topped up since 28th March (friday) who's yet to be credited.

Would suggest You wait till tomorrow and if nothing happens, you give them a Call.

Normally, it ought to have reflected since yesterday but there might be overLoads, or mayBe their trustees are yet to send the funds over to them.

You know the money you pay (into UBA ) doesn't go directly to them. You might call and they tell you they yet to receive the money. That doesn't mean the payment failed; just might be it's yet to get sent to them.

Combine workloads of Friday, Saturday, Sunday, Monday and Tuesday, and you would have idea of why the delay might be occurring.

Some people on StanBic IBTC platform yesterday and even daybeforeYesterday might have observed there were times the dashboard showed no money at all.

I said the above assuming you made bank deposit. And you included your e- number as reference / remark else na further delay.

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owenabuka:
Please
How can I reach Stanbic mmf customer

I have an additional subscription that has refused to reflect since on the 30th of march

Same here oo, mine is since 31st. I've sent them an email but no response yet.

owenabuka:
Please
How can I reach Stanbic mmf customer

I have an additional subscription that has refused to reflect since on the 30th of march

Same here oo, mine is since 31st. I've sent them an email but no response yet.

Darkseid:
Same here oo, mine is since 31st. I've sent them an email but no response yet.

If you deposited in the afternoon of 28th March, 2025 or later, just be patient, the holiday plus end-of-quarter activities will delay some processes. But be assured, all deposits will reflect, and the arrears of accrued interest will be posted accordingly. This is what occurs with all the fund managers, with little differences in implementation time and methods.

However, all these are supposed to be concluded by tomorrow, except if the rules as per deposits were not adhered to by investors in that case, send mail and follow up with a call to customer care for quick resolution of any issue.

I did a partial termination on their app yesterday afternoon and got value today. Maybe the delay some are experiencing only applies to top ups.

emmasoft:


If you deposited in the afternoon of 28th March, 2025 or later, just be patient, the holiday plus end-of-quarter activities will delay some processes. But be assured, all deposits will reflect, and the arrears of accrued interest will be posted accordingly. This is what occurs with all the fund managers, with little differences in implementation time and methods.

However, all these are supposed to be concluded by tomorrow, except if the rules as per deposits were not adhered to by investors in that case, send mail and follow up with a call to customer care for quick resolution of any issue.

Alright, thank you sir. I was just worried that my money was just hanging somewhere. Access Bank has a way of mes the description you put while making transfers but since I'm not alone, I'll just exercise more patience.

Hello everyone, anyone noticing that Firstbank quest hasn’t paid interest accrued during the Eid holidays- Why are is that? I was told it will be updated, nothing yet though..

ogyunging:
Lock funds today and get up to 43% interest with Heirs Life Assurance. Chat David on 08138776732 (whatsapp)

why Chat David, when we could Chat Goliath ?

Godwinosas5:
Hello everyone, anyone noticing that Firstbank quest hasn’t paid interest accrued during the Eid holidays- Why are is that? I was told it will be updated, nothing yet though..

Guess it's result of the extended holidays (Saturday, Sunday, Monday, and Tuesday).

Not just FirstBank. Some others also which includes even Stanbic sef. Stanbic IBTC at least resumed paying since day before yesterday BUT still very slow in crediting deposits.

Opened for 3 people and till now, their yet to be credited.

As for the person who Added funds to their existing since 28th friday, till now yet to reflect. Would suggest waiting. hopefully things clears up by Monday.

Nigerian banking system filled with inefficiencies

Neurotika:
I did a partial termination on their app yesterday afternoon and got value today. Maybe the delay some are experiencing only applies to top ups.

Yes I presume.

You know the deposits you make don't go directly to them. it first goes to of their trustees, then they send to them

bassdow:
Yes I presume.

You know the deposits you make don't go directly to them. it first goes to of their trustees, then they send to them

Ok then…

Good afternoon everyone one.

Please is there anyone here that uses axa mansard for money market fund investment?

I tried to liquidate part of my investment today but I keep getting error messages like this " an error has occurred during liquidation process, please try again ". I have sent message to the customer early this morning and I'm yet to get a response.

adedapodvirus001:
Good afternoon everyone one.

Please is there anyone here that uses axa mansard for money market fund investment?

I tried to liquidate part of my investment today but I keep getting error messages like this " an error has occurred during liquidation process, please try again ". I have sent message to the customer early this morning and I'm yet to get a response.

is Liquidation (withdrawal) not supposed to go into your bank ?

To best of my knowledge, You're to supply them with a bank (real bank , not the likes of oPay Oooo)

bassdow:
is Liquidation (withdrawal) not supposed to go into your bank ?

To best of my knowledge, You're to supply them with a bank (real bank , not the likes of oPay Oooo)

I already have a real bank on my profile but instead of receiving withdrawal successfully message, I'm getting error message.

I noticed a substantial reduction in my balance from 31st March
What could be the cause

I made no withdrawals

In short practically my whole interest accrued for the month of March is no longer there