AL
Andrew L

1 reviews | Active since May 2019

11 Dec 2023, 13:23

*****pies

Forcing a R25 monthly fee for inactive accounts and forcing people to deposit monthly. This was poorly communicated and doesn't make sense.

- On a podcast Charles said they need money to support the system/infrastructure and costs. You just added more strain to the system by implementing this.

- If you do not have free cash, you have time to pay the accumulated amount. If you still cannot pay after a few months they just sell whatever shares are in your profile (This is the main problem with me)

To get rid of the R25/month fee you have to regularly deposit each month and never withdraw (so dumb). For example you can EFT R1 a month and never withdraw out money to not pay that fee. I still feel like that's adding strain as "dormant" or "irregular" deposits cause less strain on a system. Think about it, hundreds of thousands of people are now putting in low amounts and your system has to allocate the funds to the right accounts etc and allocate it.

I feel they doing this to get cashflow as it would most likely sit in "free cash" on everyone's account. Overall it was handled very poorly and really not a smart move at all.

As a (ex)shareholder I didn't get to vote or voice my concerns about this move which is a huge move. Anyway, I can go on. I'm not happy, everyone else isn't happy just read all the reviews here.

You're bleeding customers now.

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