Thinking of how to get your children or wards ready for the new school season? Join our Twitter chat session tomorrow by 2pm as Mayowa Adeyinka-Oni discusses how you can with Stanbic IBTC Education Trust.
#SET
Thinking of how to get your children or wards ready for the new school season? Join our Twitter chat session today by 2pm as Mayowa Adeyinka-Oni discusses how you can with Stanbic IBTC Education Trust.
#SET
Hi everyone and welcome to our Twitter chat this beautiful Wednesday. Hope you are all having a good day.
So it's #Backtoschool season and we will be chatting on how to get your wards and children ready for the next school session with Stanbic IBTC Education Trust.
Got any questions? Use the hashtag #WealthWednesday and we will be sure to answer them! 😀
Q: Do you know what Stanbic IBTC Education Trust (SET) is?
#WealthWednesday #SET
A: SET is designed to assist parents and guardians attain their objective of providing sound education for their children and wards through a plan that is convenient and flexible with long term benefits. #WealthWednesday #SET
Q: Wondering how #SET works? It’s very simple!
A: Parents and Guardians can make contributions towards funding the education of their child(ren) to their desired phase, the funds are invested and payments made as needed.
#WealthWednesday #SET
Q: Is it possible to open a #SET account for your unborn child?
A: No, it is not possible to open a SET account for an unborn child as a Trust requires a named beneficiary to setup. #WealthWednesday #SET
However, you can set up a dedicated Mutual funds account for an unborn child.
#WealthWednesday
#SET
Q: What’s the procedure and how much does it cost?
A: It costs 25,000 to setup a #SET account.
#WealthWednesday
#SET
The documents required to setup a #SET account include:
▶️The letter of appointment which appoints us as Trustees.
▶️Indemnity Form: Indemnity: Security or protection against a loss or other financial burden, this enables us receive instruction via email.
#WealthWednesday #SET
▶️A #SET mandate which collects the customer and beneficiary details.
▶️Passport photograph of customer and beneficiary.
▶️Means of identification of customer
▶️Document verifying customer's address (Utility bill)
▶️Birth certificate of the beneficiary
#WealthWednesday #SET
Leave your details here: standardbank.eu.qualtrics.com/jfe/form/SV_3P… and we'll send you an email with documentation and directions on setup.
#WealthWednesday #SET
Q: Can I get the money anytime I need it?
A: Yes, you can get the money anytime you need it as long as it is for an education-related expense.
#WealthWednesday #SET
Q: Can I open a #SET account for someone that is not my child?
A: Yes, you can open a SET account for someone that is not your child.
#WealthWednesday #SET
Q: As an adult, can I setup a #SET account for myself to further my education?
A: Yes, you can. The requirements for this is the same as when opening for a child. Leave your details here: standardbank.eu.qualtrics.com/jfe/form/SV_3P… and we will reach out to you with more information on this.
#SET
Q: How do I start?
A: Click this link: standardbank.eu.qualtrics.com/jfe/form/SV_3P… to leave your details and we’ll reach out to you with more information.
#WealthWednesday
#SET
One more thing to note.
The total minimum amount required for a #SET account is N125,000 i.e. N25,000 set up fee and N100,000 minimum amount required.
#WealthWednesday
We have come to the end of this session. Thank you for staying tuned!
We hope you learnt a thing or two on how to secure your children’s future with #SET. To know more, click here standardbank.eu.qualtrics.com/jfe/form/SV_3P… and we will reach out to you with more information. #WealthWednesday
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