Banks have MMF accounts but will never tell their clients about it, they want you to keep your money in regular accounts and especially current account where you don't earn any interest, fixed account will earn you interest that is mostly lower than inflation rate if you don't negotiate
True, and the worst part of the big game is when they open current accounts for government agencies and SAGAS. They use the deposited billions to buy treasury bills from the same government and make billions. Could this be the loophole for cleaning money and mopping money out the economy. All the heads of those agencies need to do is not pay the suppliers and contractors for say 10 months with 91 day T. Bills. How much would 100 billion or 200 billion earn in 10 months? Calculate
I agree, kcb doesn't make it any easier. I applied for a mmf account from abroad and i was sent so many documents to fill and i didn't even proceed. Same with T bills and bonds
Oh yess this is the unfortunate reality. At this point and time anyone serious with offering seamless service should embrace digital solutions and strive to make the user experience smooth and worth the while. Thank you for your feedback 🙏🏽🙏🏽
I went to Absa for mmf but they wasted my time untill I went away,second time I went but n they wanted to sell for me something called endowment which I have never heard but later it sounded to me like insurance policy,,,,,advice???
Yes that's an insurance policy they want to sell you. Now you see what I was talking about in this video how sometimes they make it very difficult to open a money market fund account with them. I suggest if you need a money market fund check out the other options that I talk about in my other videos where their business is MMF
How about financial advisors are they brokers as well? Kindly in your next video to us about financial advisors and their differences with brokers or affiliate....?
Thank you for this suggestion I will definitely do a post to talk about Financial Advisors to educate the consumer on what you need to know while dealing with the advisor
Hey 👋🏽 exactly what I was talking about in the video they will tell you all sorts of things because they would rather sell you their usual savings account yet they have a money market fund account
@@MoneyVersations My mum has coop MMF. The coop MMF is not run by the bank itself but by an associate company. The bank staff are coop Bank employees managing the banking business section. I have realized that they may not be aware of the product facts. They can't even open your MMF, they'll help you feel the forms and forward it to the investment wing. Banks need to enlighten their front office staff. True it's not as convenient as running the bank account.
KCB THIKA BRANCH HAS AN MMF BUT YOU HAVE TO GO PHYSICALLY AND FILL PAPERS... nothing online you have to go in person everytime you need to ask something
Please open your comments so that we can see whenever you reply. Your reply is only seen by the comment writer. Please make it public for the purpose of educating us.
MAY BE IT DEPENDS WITH BRANCH... I have an account with KCB and they are giving me an interest of 15% and I tried a different branch for my friend and I found they don't offer it .
Hey Dorcus, you're welcome 🙏🏽🙏🏽 I understand that and thanks for the query. I'm working on the updated video to TBills.. there's already one here to give you general info but I'll do an updated version in a couple of days. Check it out here.. ua-cam.com/video/jr4j0Va_dw8/v-deo.html
You videos are comprehensive.... very rare to find elsewhere.... keep up.
Thank you so much for the feedback. I appreciate 🙏🏽🙏🏽🙏🏽
I second you
I love Etical and Lofty cohen and CIC
👏🏽👏🏽👏🏽👏🏽
Keep going for your goals
I love Etica.
Banks have MMF accounts but will never tell their clients about it, they want you to keep your money in regular accounts and especially current account where you don't earn any interest, fixed account will earn you interest that is mostly lower than inflation rate if you don't negotiate
Hey Sam..this is 💯💯💯 true
They won't mention it at all cz they want to keep you in those other options.
True, and the worst part of the big game is when they open current accounts for government agencies and SAGAS. They use the deposited billions to buy treasury bills from the same government and make billions. Could this be the loophole for cleaning money and mopping money out the economy. All the heads of those agencies need to do is not pay the suppliers and contractors for say 10 months with 91 day T. Bills.
How much would 100 billion or 200 billion earn in 10 months? Calculate
@@FMercuryEA this is true wah
@@MoneyVersations can i inbox you cause my aib digitrader isn't opening 😢
I agree, kcb doesn't make it any easier. I applied for a mmf account from abroad and i was sent so many documents to fill and i didn't even proceed. Same with T bills and bonds
Oh yess this is the unfortunate reality. At this point and time anyone serious with offering seamless service should embrace digital solutions and strive to make the user experience smooth and worth the while. Thank you for your feedback 🙏🏽🙏🏽
I went to Absa for mmf but they wasted my time untill I went away,second time I went but n they wanted to sell for me something called endowment which I have never heard but later it sounded to me like insurance policy,,,,,advice???
Yes that's an insurance policy they want to sell you.
Now you see what I was talking about in this video how sometimes they make it very difficult to open a money market fund account with them. I suggest if you need a money market fund check out the other options that I talk about in my other videos where their business is MMF
Good Job. Please give us last week's MMF updates
Posting this tomorrow..thank you for watching 🙏🏽
@@MoneyVersations thank you sir. Good job
You're doing a good job
Thank you Irene, I appreciate your forever support and encouragement 🙏🏽🙏🏽 God bless you
Thanks for sharing 👍🏽
You're welcome 🙏🏽
I opened etica just because you said its safe hope it wont disappoint 🙈
Hey Ruth..I'm happy for you. Let's keep going for our goals and thanks for the feedback
Will try the cop one...
That's okay..
All the best
@@MoneyVersations Asante 🙏🏾
Thanks a lot for your videos.second lam interested in investing in treasury bills but ldon,t know anything concerning them pliz advise.
Thanks for the updates 👌👌👌👌👌👌
You're welcome Pius 🙏🏽🙏🏽🙏🏽
How about financial advisors are they brokers as well? Kindly in your next video to us about financial advisors and their differences with brokers or affiliate....?
Thank you for this suggestion
I will definitely do a post to talk about Financial Advisors to educate the consumer on what you need to know while dealing with the advisor
Following on this as well
ATA Mimi nangojea .hii ni urgent tafadhali.
Equity bank customer care told me they don't have mmf accounts at Equity bank
Hey 👋🏽 exactly what I was talking about in the video they will tell you all sorts of things because they would rather sell you their usual savings account yet they have a money market fund account
I also encquired,but they hesitated,tho I was given a no to call,this their percentage is low.
@@MoneyVersations My mum has coop MMF.
The coop MMF is not run by the bank itself but by an associate company.
The bank staff are coop Bank employees managing the banking business section. I have realized that they may not be aware of the product facts. They can't even open your MMF, they'll help you feel the forms and forward it to the investment wing.
Banks need to enlighten their front office staff.
True it's not as convenient as running the bank account.
Will it be safe for me if i transfer all my savings from bank to mmf
Yes it is very safe 💯
@@MoneyVersations thank you sir 🙏
KCB THIKA BRANCH HAS AN MMF BUT YOU HAVE TO GO PHYSICALLY AND FILL PAPERS... nothing online you have to go in person everytime you need to ask something
This is correct 💯💯💯
Same case with Absa you can't keep tract on your money but at the end of month you will getting a statement
I went to equity bank they told me they have mmf but is not open to public
Imagine that.. exactly what I am talking about and now the question would be..so who is it open to?
Equity is phony and Conny.
@thomasmomanyi285 😂😂mumesema uoga iliisha
Woow really 😮
Question. I must have an account in KCB before opening an MMF acc? Or i can only go there and ask for an Mmf?
They may ask you to open an account
They demand you should have one
Technically they shouldn't force you but apparently they demand that it's a must to have it first 😅
Correct 💯
The purpose of the account was told is to rebank your money back any time you need it
Where does MansaX from SIB bank grouped?
I'm posting a video about them..they are not in this category as they offer alternative investments, highly spread out both onshore and offshore
@MoneyVersations waiting for this about mansa-x
@@nyambuts not a bad thing, have been in it for a year now
@@nyambuts not a bad thing, have been in it for a year now
How safe is etica?
It's safe 💯💯💯
Please open your comments so that we can see whenever you reply. Your reply is only seen by the comment writer. Please make it public for the purpose of educating us.
Hey, thank you for this. I was not aware that this is the case..let me have that looked into cz yes of course every comment should be public.
Am in cooperative bank
Hey Naomi, nice to hear this. Keep going for your goals 💪🏽💪🏽💪🏽
@@MoneyVersations what is there minimum in mmf please
Went to KCB and said yhey do not offer mmf
MAY BE IT DEPENDS WITH BRANCH... I have an account with KCB and they are giving me an interest of 15% and I tried a different branch for my friend and I found they don't offer it .
@@Dr.Salem-user-vq5jc1vj7x
They are all good but answering emails is where they draw the line 😅😭
Exactly the point of the video to let you know the truth and what you should expect. It's bad by the way to say they don't yet they do but we know why
Correct 💯💯💯
😂😂😂I agree with you 💯 this is not the first complaint
Thanks for info
You're welcome Eric and thanks for your support 🙏🏽
Thanks a lot for your videos.second lam interested in investing in treasury bills but ldon,t know anything concerning them pliz advise.
Thanks a lot for your videos.second lam interested in investing in treasury bills but ldon,t know anything concerning them pliz advise.
Hey Dorcus, you're welcome 🙏🏽🙏🏽
I understand that and thanks for the query. I'm working on the updated video to TBills.. there's already one here to give you general info but I'll do an updated version in a couple of days. Check it out here..
ua-cam.com/video/jr4j0Va_dw8/v-deo.html