JK
Johann K
1 reviews | Active since Jan 2011
07 Mar 2025, 07:51
FEDGROUP - Good taking your money, difficult to get it back!!!!
About 4 weeks ago I have app**** to Fedgroup to surrender (premature) my investment (about Rand 1 mil), did send all relevant information to them, i have asked several times for a status and simply get no reply whatsoever.
A 1 star rating is much to high for them!!
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Replies (4)0
Replies (4)
Fedgroup's replyOfficial
07 Mar 2025, 15:39Hi Johan. Thank you for reaching out.
The Fedgroup Secured Investment is a fixed 5-year investment that cannot be surrendered at the investor’s request. Early withdrawal is only considered in cases of severe financial hardship or medical necessity. Such requests are reviewed by the Early Withdrawal Committee, which assesses the supporting evidence before making a decision. This policy is outlined in the Terms and Conditions of the application form you signed in 2019.
While we do not intend to make the process difficult, we are bound by the Collective Investment Schemes Control Act No. 45 of 2002, which mandates a minimum investment period of five years, as stated in Section 58. We strive to be as understanding and accommodating as possible, but there are minimum requirements for submitting an early withdrawal request. As of our last communication on 14 February 2025, we have not received the necessary supporting documents we requested. Without these, we are unable to proceed with your request.
We will gladly submit your request to the Early Withdrawal Committee for review if you can provide the required documents.
The Fedgroup Secured Investment is a fixed 5-year investment that cannot be surrendered at the investor’s request. Early withdrawal is only considered in cases of severe financial hardship or medical necessity. Such requests are reviewed by the Early Withdrawal Committee, which assesses the supporting evidence before making a decision. This policy is outlined in the Terms and Conditions of the application form you signed in 2019.
While we do not intend to make the process difficult, we are bound by the Collective Investment Schemes Control Act No. 45 of 2002, which mandates a minimum investment period of five years, as stated in Section 58. We strive to be as understanding and accommodating as possible, but there are minimum requirements for submitting an early withdrawal request. As of our last communication on 14 February 2025, we have not received the necessary supporting documents we requested. Without these, we are unable to proceed with your request.
We will gladly submit your request to the Early Withdrawal Committee for review if you can provide the required documents.
Fedgroup's reply07 Mar 2025, 15:39
Official
Hi Johan. Thank you for reaching out.
The Fedgroup Secured Investment is a fixed 5-year investment that cannot be surrendered at the investor’s request. Early withdrawal is only considered in cases of severe financial hardship or medical necessity. Such requests are reviewed by the Early Withdrawal Committee, which assesses the supporting evidence before making a decision. This policy is outlined in the Terms and Conditions of the application form you signed in 2019.
While we do not intend to make the process difficult, we are bound by the Collective Investment Schemes Control Act No. 45 of 2002, which mandates a minimum investment period of five years, as stated in Section 58. We strive to be as understanding and accommodating as possible, but there are minimum requirements for submitting an early withdrawal request. As of our last communication on 14 February 2025, we have not received the necessary supporting documents we requested. Without these, we are unable to proceed with your request.
We will gladly submit your request to the Early Withdrawal Committee for review if you can provide the required documents.
The Fedgroup Secured Investment is a fixed 5-year investment that cannot be surrendered at the investor’s request. Early withdrawal is only considered in cases of severe financial hardship or medical necessity. Such requests are reviewed by the Early Withdrawal Committee, which assesses the supporting evidence before making a decision. This policy is outlined in the Terms and Conditions of the application form you signed in 2019.
While we do not intend to make the process difficult, we are bound by the Collective Investment Schemes Control Act No. 45 of 2002, which mandates a minimum investment period of five years, as stated in Section 58. We strive to be as understanding and accommodating as possible, but there are minimum requirements for submitting an early withdrawal request. As of our last communication on 14 February 2025, we have not received the necessary supporting documents we requested. Without these, we are unable to proceed with your request.
We will gladly submit your request to the Early Withdrawal Committee for review if you can provide the required documents.
JK
Johann K's updateReviewer Update
07 Mar 2025, 17:04It looks like Fedgroup is also unable to read a message !!!!!!!!
AS STATED IN MY ORIGINAL REVIEW, THE EARLY WITDRAWEL WAS ALREADY SUBMITTED A MONTH AGO --- AND I AM NOT GETTING ANY REPLY FRO FEDSURE.
AS STATED IN MY ORIGINAL REVIEW, THE EARLY WITDRAWEL WAS ALREADY SUBMITTED A MONTH AGO --- AND I AM NOT GETTING ANY REPLY FRO FEDSURE.
JK
Johann K's update07 Mar 2025, 17:04
Reviewer Update
It looks like Fedgroup is also unable to read a message !!!!!!!!
AS STATED IN MY ORIGINAL REVIEW, THE EARLY WITDRAWEL WAS ALREADY SUBMITTED A MONTH AGO --- AND I AM NOT GETTING ANY REPLY FRO FEDSURE.
AS STATED IN MY ORIGINAL REVIEW, THE EARLY WITDRAWEL WAS ALREADY SUBMITTED A MONTH AGO --- AND I AM NOT GETTING ANY REPLY FRO FEDSURE.
JK
Johann K's updateReviewer Update
11 Mar 2025, 16:32Thanks to Mrs. Nuria Inacio from the Fedgroup complains department the issue has been resolved and I am grateful for her help.
JK
Johann K's update11 Mar 2025, 16:32
Reviewer Update
Thanks to Mrs. Nuria Inacio from the Fedgroup complains department the issue has been resolved and I am grateful for her help.
Fedgroup's replyOfficial
12 Mar 2025, 09:30 Thank you for your feedback Johann. We apologise for any inconvenience caused in this process.
Fedgroup's reply12 Mar 2025, 09:30
Official
Thank you for your feedback Johann. We apologise for any inconvenience caused in this process.