DISCOVERY WITHHOLDS INFO AND DOESN'T RESPOND TO QUERIES

Due to poor service received from Discovery as a whole, I decided to terminate one of my investments with Discovery.

I received a break down of what would be paid out on 1 March together with instructions on what was required. I was informed that it would take 2-3 business days to be finalised.

I immediately completed the forms and sent the necessary documentation to Discovery, who acknowledged receipt.

By Monday 11 March I had not received any payment nor had I received any feedback from Discovery other than their automated response. I phoned their helpline and was informed the reason for the delay was that a further debit order (which took place on the 1st) had to be captured by they system and I would therefor only receive payment between 13 - 15 March (Funnily enough that is 2-3 working days from this call to enquire).

Low and behold, a few hours after such enquiry I received an email from Discovery once again confirming that they had received a withdrawal instruction. I emailed them asking for clarity as to what has been done between their first email on the 1st and their second email on the 11th but received no response.

This morning, they made payment which was approximately R2000 short. When calling to enquire I was now informed that such monies is withheld for a period of 45 days in case such debit orders were reversed. The lady (Shelly - who I believe I spoke to originally when requesting the withdrawal) could not explain why this information was not given to me when I phoned to enquire as to the process and the amount I would receive from Withdrawal.

It is becoming more and more evident that Discovery is only interested in getting your business but once they have received it, they are not interested in communicating or properly advising you.