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NIC 1:4 rights issue - sh21 per share
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Aguytrying
#51 Posted : Friday, September 07, 2012 8:34:40 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
kyt wrote:
how fast is an eft? from one bank to another.


Its cleared the next day.
The investor's chief problem - and even his worst enemy - is likely to be himself
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kyt
#52 Posted : Friday, September 07, 2012 9:47:18 PM
Rank: Elder

Joined: 11/7/2007
Posts: 2,182
thanks a guy, that will be really interesting, i plan to buy nic rights b4 friday from the dtb refund. tough call i tell you!!
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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mwekez@ji
#53 Posted : Saturday, September 08, 2012 11:07:42 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Aguytrying wrote:
kyt wrote:
how fast is an eft? from one bank to another.


Its cleared the next day.


@Aguy, your bank must be giving you a concession clearing cycle of T+1. EFT we (without concession) get T+2 but TT we get same day
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kyt
#54 Posted : Saturday, September 08, 2012 11:59:54 AM
Rank: Elder

Joined: 11/7/2007
Posts: 2,182
thanks for the info mwekezaji
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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VituVingiSana
#55 Posted : Saturday, September 08, 2012 1:29:21 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
mwekez@ji wrote:
Aguytrying wrote:
kyt wrote:
how fast is an eft? from one bank to another.


Its cleared the next day.


@Aguy, your bank must be giving you a concession clearing cycle of T+1. EFT we (without concession) get T+2 but TT we get same day
EFT takes T+2/3 while RTGS is T+0/1 ... all depends on the bank.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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t-godd
#56 Posted : Saturday, September 08, 2012 1:50:02 PM
Rank: New-farer

Joined: 8/14/2010
Posts: 28
Location: Limuru
What is the difference between RTGS and EFT?
L-TOWNS OWN SINCE '90
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mwekez@ji
#57 Posted : Sunday, September 09, 2012 8:23:58 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
t-godd wrote:
What is the difference between RTGS and EFT?


RTGS is Real Time Gross Settlement. Money is transmitted via CBK/SWIFT and settlement occurs on a real time/same day. My bank charges KES 500 for this service.

EFT is Electronic Funds Transfer. Money is transmitted via clearing house and settlement occurs in 2 days. My bank charges KES 300 for this service.
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mwekez@ji
#58 Posted : Sunday, September 09, 2012 8:29:25 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
mwekez@ji wrote:
t-godd wrote:
What is the difference between RTGS and EFT?


RTGS is Real Time Gross Settlement. Money is transmitted via CBK/SWIFT and settlement occurs on a real time/same day. My bank charges KES 500 for this service.

EFT is Electronic Funds Transfer. Money is transmitted via clearing house and settlement occurs in 2 days. My bank charges KES 300 for this service.


Another thing, for fund over KES 1M, they cannot be handled via EFT or cheques so they must be transmitted via RTGS.
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t-godd
#59 Posted : Sunday, September 09, 2012 11:49:45 PM
Rank: New-farer

Joined: 8/14/2010
Posts: 28
Location: Limuru
@mwekez@ji, I appreciate the response. Thanks.
L-TOWNS OWN SINCE '90
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mkonomtupu
#60 Posted : Wednesday, October 10, 2012 2:34:51 PM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
NIC Bank’s rights issue has been oversubscribed by 238 per cent, managing to attract Sh7 billion in offers against the Sh2 billion it had sought.
http://www.businessdaily.../-/qpl8c4z/-/index.html

Good news I wish they had supplied more shares
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