TR
Tracy R
1 reviews | Active since Aug 2022
20 Feb 2024, 10:35
Delay payout
I'm really disappointed with momentum after all the 2 years of being loyal client now it's pay back time they busy giving me run arounds
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Replies (2)TR
Tracy R's updateReviewer Update
20 Feb 2024, 09:26Myriad
Policy number: ***
Policy number: ***
TR
Tracy R's update20 Feb 2024, 09:26
Reviewer Update
Myriad
Policy number: ***
Policy number: ***
Momentum (SA)'s replyOfficial
20 Feb 2024, 11:12We take note of the contents of your complaint.
When a policy is ceded, it means that the cessionary owns the policy. Normally then when there is a pay-out it will be to the cessionary. If the payment needs to be paid to you we will require a cession cancellation.
ABSA took out a cession for security and we cannot do anything before we receive a cession cancellation from ABSA Secuities.
It is not our attention to delay payment but unfortunately, we have to adhere to the policy terms and conditions.
Kind regards
MC
When a policy is ceded, it means that the cessionary owns the policy. Normally then when there is a pay-out it will be to the cessionary. If the payment needs to be paid to you we will require a cession cancellation.
ABSA took out a cession for security and we cannot do anything before we receive a cession cancellation from ABSA Secuities.
It is not our attention to delay payment but unfortunately, we have to adhere to the policy terms and conditions.
Kind regards
MC
Best regards,
Momentum (SA)'s reply20 Feb 2024, 11:12
Official
We take note of the contents of your complaint.
When a policy is ceded, it means that the cessionary owns the policy. Normally then when there is a pay-out it will be to the cessionary. If the payment needs to be paid to you we will require a cession cancellation.
ABSA took out a cession for security and we cannot do anything before we receive a cession cancellation from ABSA Secuities.
It is not our attention to delay payment but unfortunately, we have to adhere to the policy terms and conditions.
Kind regards
MC
When a policy is ceded, it means that the cessionary owns the policy. Normally then when there is a pay-out it will be to the cessionary. If the payment needs to be paid to you we will require a cession cancellation.
ABSA took out a cession for security and we cannot do anything before we receive a cession cancellation from ABSA Secuities.
It is not our attention to delay payment but unfortunately, we have to adhere to the policy terms and conditions.
Kind regards
MC
Best regards,