1 reviews | Active since Aug 2024
Unfairly burdensome withdrawal process
I am extremely disappointed with the customer service at 10X. Having invested with your company for almost 4 years I find that when I want to withdraw money it is an obstructive and tedious process. Firstly there is no option on your website to process the withdrawal - I must email to find out all the hoops I have to jump through to get my money. None of your competitors require filling out of forms and bank statements to withdraw money. You should have all this information on your system. To make me wait 45 days before you process my redemption is exploitative - who is earning interest on my money while I wait? This is a pity because my experience with 10X and how you have invested money has been positive up until this point but will not be recommending you in future.
Thank you for reaching out regarding the redemption process for your discretionary product.
To initiate a redemption, we require a formal instruction using the redemption form provided. This procedure ensures your security and verifies that the instruction is coming directly from you, the Investor. We conduct thorough due diligence and checks on the submitted form to confirm the validity of the request.
Regarding turnaround times:
- Debit Orders: The 45-day turnaround period applies exclusively to debit orders, starting from the date of the last debit order collection. This timeframe accounts for the fact that many banks allow clients up to 40 days to reverse a debit order, helping us minimize risk.
- Redemptions: Your funds will remain invested until the redemption date to protect you from potential market fluctuations. Once the redemption instruction is validated, the processing will be completed within a maximum of 5 working days.
We strive to ensure a secure and efficient process for all your investment needs. If you have any further questions or need assistance with the redemption form, please don't hesitate to contact us.
Best regards,10X Team
Thank you for reaching out regarding the redemption process for your discretionary product.
To initiate a redemption, we require a formal instruction using the redemption form provided. This procedure ensures your security and verifies that the instruction is coming directly from you, the Investor. We conduct thorough due diligence and checks on the submitted form to confirm the validity of the request.
Regarding turnaround times:
- Debit Orders: The 45-day turnaround period applies exclusively to debit orders, starting from the date of the last debit order collection. This timeframe accounts for the fact that many banks allow clients up to 40 days to reverse a debit order, helping us minimize risk.
- Redemptions: Your funds will remain invested until the redemption date to protect you from potential market fluctuations. Once the redemption instruction is validated, the processing will be completed within a maximum of 5 working days.
We strive to ensure a secure and efficient process for all your investment needs. If you have any further questions or need assistance with the redemption form, please don't hesitate to contact us.
Best regards,10X Team