Bad Service

Item: Momentum (SA)
Rating: 1
Author: Michelle G

I have a retirement annuity which has matured on the 25th February (dob). In December 2019 I completed all the necessary paperwork so that the policy could pay out on my Birthday. I received a reply from Momentum Investo to say that I must resubmit paperwork nearer to my Birthday. Now why do I need to resubmit if you already have a copy on file which I emailed? Well I resubmitted on 24th Feb - then they could not find some of my paperwork which I resubmitted so all good. Received an email saying I now had to wait 2 - 3 days for them to reinvest my monies and then after 10 days they would let me know when they would release my money. So people please be aware that they are quick to take your money but not PAY OUT.

Helpful (0)

Replies (3)

Momentum (SA)'s replyOfficial

15 Mar 2021, 08:19

Thank you for your feedback, we take note of the content. We will investigate the matter and provide you with feedback.

Kind regards
MC

Momentum (SA)'s reply15 Mar 2021, 08:19

Official

Thank you for your feedback, we take note of the content. We will investigate the matter and provide you with feedback.

Kind regards
MC

Momentum (SA)'s replyOfficial

15 Mar 2021, 11:16

I refer to our telephone conversation, firstly I want to apologize for the delay in the payment of your retirement annuity and the frustration and inconvenience this has caused you.

We are in the process of payment and the proceeds should reflect into your account by latest tomorrow.

Kind regards
Michele Coetsee

Momentum (SA)'s reply15 Mar 2021, 11:16

Official

Momentum (SA)'s replyOfficial

15 Mar 2021, 14:03

The proceeds have been paid into your account

Momentum (SA)'s reply15 Mar 2021, 14:03

Official

The proceeds have been paid into your account