DR
Danny R
1 reviews | Active since Jun 2020
08 Nov 2022, 08:39
10X too slow to provide reason for money going out of account
On 22 October I noticed that R3000 was showing on my 10X online portal as going out from my 10X taxfree savings account on 04 October. I sent an enquiry to 10X on 22 October for 10X to please advise on the reason for R3000 going out of my tax free savings account on 04 October 2022. On 26 October 10X responded by requesting a screenshot. I sent a screenshot to 10X and 10X escalated the matter to the Application support team on 26 October. On 01 November 10X asked me to check if the issue was fixed on my profile. I responded to advise that it was not fixed on my profile. It is over two weeks and I am still awaiting the reason for R3000 going out of my taxfree savings account showing on 04 October.
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Replies (5)
10x Investments's replyOfficial
08 Nov 2022, 10:12Dear Danny
Thank you for reaching out and leaving a review.
The query is currently being investigated and we trust this can be resolved as soon as possible.
A member of the Team will reach out shortly.
Thank you for bringing the matter to our attention.
Regards,
The 10X Team
Thank you for reaching out and leaving a review.
The query is currently being investigated and we trust this can be resolved as soon as possible.
A member of the Team will reach out shortly.
Thank you for bringing the matter to our attention.
Regards,
The 10X Team
10x Investments's reply08 Nov 2022, 10:12
Official
Dear Danny
Thank you for reaching out and leaving a review.
The query is currently being investigated and we trust this can be resolved as soon as possible.
A member of the Team will reach out shortly.
Thank you for bringing the matter to our attention.
Regards,
The 10X Team
Thank you for reaching out and leaving a review.
The query is currently being investigated and we trust this can be resolved as soon as possible.
A member of the Team will reach out shortly.
Thank you for bringing the matter to our attention.
Regards,
The 10X Team
10x Investments's replyOfficial
09 Nov 2022, 10:48Dear Danny,
Our Team has corrected the error being displayed on your My10X Portal.
You should see the corrected information and the matter is resolved.
We apologize for the inconvenience caused.
Regards,
The 10X Team
Our Team has corrected the error being displayed on your My10X Portal.
You should see the corrected information and the matter is resolved.
We apologize for the inconvenience caused.
Regards,
The 10X Team
10x Investments's reply09 Nov 2022, 10:48
Official
Dear Danny,
Our Team has corrected the error being displayed on your My10X Portal.
You should see the corrected information and the matter is resolved.
We apologize for the inconvenience caused.
Regards,
The 10X Team
Our Team has corrected the error being displayed on your My10X Portal.
You should see the corrected information and the matter is resolved.
We apologize for the inconvenience caused.
Regards,
The 10X Team
DR
Danny R's updateReviewer Update
09 Nov 2022, 11:51I have logged into the 10X online portal on 09 November at 11h45 and the error has not been corrected as yet.
The online portal still shows R3000 going out on 04 October. A screenshot has been sent to 10X to look at and provide an explanation.
I do not understand why 10X reports that the matter has been corrected when in fact it has not been corrected.
The online portal still shows R3000 going out on 04 October. A screenshot has been sent to 10X to look at and provide an explanation.
I do not understand why 10X reports that the matter has been corrected when in fact it has not been corrected.
DR
Danny R's update09 Nov 2022, 11:51
Reviewer Update
I have logged into the 10X online portal on 09 November at 11h45 and the error has not been corrected as yet.
The online portal still shows R3000 going out on 04 October. A screenshot has been sent to 10X to look at and provide an explanation.
I do not understand why 10X reports that the matter has been corrected when in fact it has not been corrected.
The online portal still shows R3000 going out on 04 October. A screenshot has been sent to 10X to look at and provide an explanation.
I do not understand why 10X reports that the matter has been corrected when in fact it has not been corrected.
10x Investments's replyOfficial
09 Nov 2022, 12:44Hi Danny,
Thank you for your comment.
The transaction dated 04/10/2022 was corrected and loaded onto your My10X portal. The contribution has accumulated and is receipted as a positive transaction.
A response has been sent to your email explaining this per the screenshot you provided.
Regards,
The 10X Team
Thank you for your comment.
The transaction dated 04/10/2022 was corrected and loaded onto your My10X portal. The contribution has accumulated and is receipted as a positive transaction.
A response has been sent to your email explaining this per the screenshot you provided.
Regards,
The 10X Team
10x Investments's reply09 Nov 2022, 12:44
Official
Hi Danny,
Thank you for your comment.
The transaction dated 04/10/2022 was corrected and loaded onto your My10X portal. The contribution has accumulated and is receipted as a positive transaction.
A response has been sent to your email explaining this per the screenshot you provided.
Regards,
The 10X Team
Thank you for your comment.
The transaction dated 04/10/2022 was corrected and loaded onto your My10X portal. The contribution has accumulated and is receipted as a positive transaction.
A response has been sent to your email explaining this per the screenshot you provided.
Regards,
The 10X Team
DR
Danny R's updateReviewer Update
09 Nov 2022, 13:08Thank you for the response.
Please can you address my concern below:
I do not understand the reason for the duplicate lumpsums and one reversal. While the net is correct:
SARS has strict rules on annual limits of deposits into tax free savings accounts. SARS also has rules on withdrawals from tax free savings accounts.
In essence, deposits are limited to R36 000 per annum. If deposits and withdrawals are made during the same financial year, it would affect the allowable contributions.
So, if I make R6000 contribution in October and withdraw R3000 in October, although my net contribution is R3000, The remaining contribution for the financial year would be limited to only a further R33000 (and not R36000).
Please advise how 10X will resolve the above.
DR
Danny R's update09 Nov 2022, 13:08
Reviewer Update
Thank you for the response.
Please can you address my concern below:
I do not understand the reason for the duplicate lumpsums and one reversal. While the net is correct:
SARS has strict rules on annual limits of deposits into tax free savings accounts. SARS also has rules on withdrawals from tax free savings accounts.
In essence, deposits are limited to R36 000 per annum. If deposits and withdrawals are made during the same financial year, it would affect the allowable contributions.
So, if I make R6000 contribution in October and withdraw R3000 in October, although my net contribution is R3000, The remaining contribution for the financial year would be limited to only a further R33000 (and not R36000).
Please advise how 10X will resolve the above.