Making Money Stuff.

I'm essentially done with sunlife philippines. It's just confusing how much of a hassle it is.

It's not possible to online fund transfer flexilink funds to equity funds. the only transfer possible is from mutual fund to another mutual fund, which is generally unnecessary since you can deposit to all the mutual funds accounts in the same way.

To deposit to the equity fund with online banking, I have to register sunlife's company number to my online banking account, do the hassle of going to an ATM to confirm that number, then wait for days, then deposit to that bank account number, take a screenshot of the transaction, then use the mf orders on the sunlife online account (different from the online banking account) to confirm the transaction and upload the photo.

How come with flexilink I can just register my own account number with bdo online banking and deposit from there, without any confirmation photos? But the catch with flexilink is, it's not possible to transfer its funds directly to a bank account, which is possible for an equity fund. So to withdraw my funds from the flexilink account, I essentially still have to print out a document and painstakingly commute to a sunlife branch and submit the document there.

If it were possible to transfer funds from a flexilink account to an equity account, that wouldn't be a hassle. I could just deposit to the flexilink account to profit, then transfer that money to the equity fund, then withdraw to the bank account using the equity fund account. But that's not possible. If the equity fund account didn't have a letter in it, I would just be able to deposit to it with online banking, make a profit, then withdraw the funds to my bank account using the equity online account. but the new mutual fund account number has a letter, making it not possible to register under online banking.

Unless I want the hassle of taking photos and going to an ATM to confirm the number, I have to go to a sunlife branch to deposit to my equity fund. If it were possible to transfer funds from flexilink to equity online, this wouldn't be necessary. I also have to go to a sunlife branch to withdraw any flexilink funds. If it were possible to transfer funds from flexilink to equity online, this wouldn't be necessary.

See how much of a headache it is? Comparing it to an online stocks account, it's not comparable. I can just deposit to my stocks account with online banking and then withdraw the funds using the stocks account to transfer back to the bank account once I make a profit.

I am just not going to deposit to sunlife flexilink again. It has a remaining balance and I just intend to leave it that way until the fund matures and I withdraw it. I just intend to leave my equity fund at 5000 pesos forever after I had withdrawn all of its contents years ago.