In today’s fast-paced world, managing investments efficiently is key to financial success. The CIC Asset Management (CICAM) App offers investors in Kenya a powerful tool to manage their unit trust investments anytime, anywhere. This guide provides a step-by-step walkthrough of the app’s features, from logging in to making transactions, ensuring that you make the most of this digital platform.
1. Getting Started: Logging Into the CICAM App
To begin using the CICAM App, you need to log in using your member credentials.
- Member Number: Your member number serves as your username. If you’ve forgotten it, you can find it on your statement or the welcome letter received when opening your account. If it’s still untraceable, contact CIC support at 0703 099 322 or via email at cic.asset@cic.co.ke.
- Password: If you don’t have a password or need to reset it, click on the ‘Forgot Password’ button. Enter your member or phone number, and follow the prompts to reset your password using the OTP sent to your registered number.
2. Navigating the Home Page
Once logged in, the home page offers quick access to essential functions:
- Top-Up: Deposit funds into your investment accounts.
- Withdrawals: Request withdrawals from your investment.
- Fund Switch: Move your investments between different funds.
- Account Overview: Quickly view your account’s performance and balance.
Use the icon buttons at the bottom of the screen to navigate between the home, accounts, articles, and settings pages.
3. How to Top Up Your Account
Topping up your investment account is straightforward with the CICAM App:
- Step 1: Click the ‘Top Up’ button on the home tab.
- Step 2: Enter the amount you wish to deposit (minimum KSh 1,000).
- Step 3: Select the account you want to top up.
- Step 4: Choose your payment method.
- Step 5: Confirm the payment details, and a pop-up screen will prompt you to enter your M-PESA PIN to authorize the transaction.
Upon successful completion, you’ll receive SMS notifications from both CIC and M-PESA.
4. Making a Withdrawal
The CICAM App makes it easy to access your funds whenever you need them:
- Step 1: Click on the “Withdraw” button and enter the amount you wish to withdraw.
- Step 2: Select the account you want to debit.
- Step 3: Confirm your bank account details.
- Step 4: Enter the six-digit code sent via SMS to confirm the withdrawal request.
Note: Online withdrawals are only available for individual and joint accounts with a ‘one to sign’ mandate. Requests made after 9:00 am will be processed the next working day, with confirmation sent via email and SMS.
5. Frequently Asked Questions
Here are answers to some common questions about the CICAM App and unit trust investments:
- What is a Unit Trust? A unit trust is an investment scheme where investors pool their money to achieve a shared objective. The trust is divided into units, each representing a share of the investment.
- How Safe is My Investment? Investments in unit trusts are regulated by the Capital Markets Authority (CMA), ensuring your funds are managed with the highest standards of governance.
- How Can I Pay for Investments? Payments can be made through bank transfers, personal or banker’s cheques, or via M-PESA using Paybill number 600118, with your member number as the account number.
6. Staying Informed: Viewing Statements and Transaction Confirmations
The CICAM App provides access to your transaction history and monthly statements:
- Monthly Statements: Sent by the 5th working day of the following month.
- Purchase Confirmations: Sent by the close of business the next working day after funds have cleared.
This transparency ensures you always have up-to-date information about your investments.
7. Making the Most of Your Investment
Understanding the benefits of unit trusts compared to other investment options is essential:
- High Liquidity: Access your funds easily.
- Competitive Returns: Benefit from expert management and market insights.
- Diversification: Spread risk across different assets.
8. Support and Assistance
If you need help at any stage, CIC Asset Management offers robust support through phone, email, and their physical offices in Kenya.
Conclusion
The CICAM App is a powerful tool that simplifies managing your investments, offering convenience, transparency, and control. By following this guide, you can confidently navigate the app’s features and make informed decisions to maximize your financial growth. Whether you’re making a top-up, withdrawing funds, or simply checking your account balance, the CICAM App is your gateway to a seamless investment experience.
