KS
Kitu S
1 reviews | Active since May 2016
25 Nov 2024, 21:36
No detailed statement line item just money deposited in my account with no explanation
Withdrew my tax free investments and requested for account to be closed, amounts were just deposited into my account with no detailed statement of said annual fees mentioned at the beginning of the investment.
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10x Investments's replyOfficial
26 Nov 2024, 11:51Dear Kitu,
Thank you for reaching out regarding the recent deposits into your account.
As per our standard process, the redemption form you completed authorised us to redeem the units in your investment and transfer the proceeds directly to your bank account. Please note the following key points regarding the process:
- Transaction Statements:
- A transaction statement is generated and sent to clients with each movement in their investment account.
- Monthly statements are also emailed to clients by our service provider, summarising the activities within the account.
- Fees:
- Fees are included in the unit price of your investment and therefore do not appear as separate line items on your statement.
- For transparency, the cost details are outlined in the Minimum Disclosure Documents (MDD), which are published monthly and available on our website at www.10x.co.za.
- Redemption Process:
- To mitigate the risk of debit order reversals, we have a 45-day waiting period from the date of a debit order contribution before redeeming units. This ensures the funds are secure and properly cleared.
If you did not receive the statements mentioned above or have further questions, please do not hesitate to contact us. Transparency and alignment with our clients' expectations are priorities for us.
Please let us know if there’s anything further we can assist you with.
Kind regards,
The 10X Team
The 10X Team
10x Investments's reply26 Nov 2024, 11:51
Official
Dear Kitu,
Thank you for reaching out regarding the recent deposits into your account.
As per our standard process, the redemption form you completed authorised us to redeem the units in your investment and transfer the proceeds directly to your bank account. Please note the following key points regarding the process:
- Transaction Statements:
- A transaction statement is generated and sent to clients with each movement in their investment account.
- Monthly statements are also emailed to clients by our service provider, summarising the activities within the account.
- Fees:
- Fees are included in the unit price of your investment and therefore do not appear as separate line items on your statement.
- For transparency, the cost details are outlined in the Minimum Disclosure Documents (MDD), which are published monthly and available on our website at www.10x.co.za.
- Redemption Process:
- To mitigate the risk of debit order reversals, we have a 45-day waiting period from the date of a debit order contribution before redeeming units. This ensures the funds are secure and properly cleared.
If you did not receive the statements mentioned above or have further questions, please do not hesitate to contact us. Transparency and alignment with our clients' expectations are priorities for us.
Please let us know if there’s anything further we can assist you with.
Kind regards,
The 10X Team
The 10X Team