1 reviews | Active since Mar 2014
Horrible customer service
Momentum Team
I'm extremely unhappy with your service and your service consultants.
What is the process of disinvestment of funds and how long does it take? Where is my particular process and which day are we on? When should I expect funds into my account?
I completed my withdrawal forms on the 25th of November 2020. On the 11th of December 2020, upon inquiry, I was informed by the Employer Consultant that all the required documents have been filed to Momentum.
The Employer Consultant, informed me that the process takes 10 to 12 working days.
On the 17th December 2020, I received an SMS and an e-mail from momentum (Adelle Landsman) alerting me that they have not received my November contributions and that I should confirm if I have left the employ of Employer.
I called the number provided in the email and was assured that Bradley was informed to disinvest the funds.
On the same date, I spoke to the employer consultant Consultant and she assured me that she has spoken to Bradley and Kgomotso about the disinvestment/withdrawal. They are aware of the sms and email and that I should ignore it.
I then enquired, how far is the process. The message said that the divestment will be sent to SARS on the 18th of December 2020 for a tax directive. A response from SARS can be expected on Tuesday 22 December 2020. So I expected payment to at happen by month-end December.
On Monday (January 4th) I called the ***number and spoke to Gloria Maele. She informed me that the last required information was received on the 17th of December 2020. (I was not informed that there was information outstanding), She also informed me that the process takes 26 working days and that Momentum was closed from 18th to the 31st December 2020. I was assured that Bradley will confirm my banking details today and that process takes 24 to 48 hours.
Let me repeat the question, which day of the 26 working days is the process on? When should I expect my funds to be out of Momentum into the different accounts?
Which is the correct version of events here. Who is telling the truth and who is not? How many days does Momentum take to disinvest funds? 26/10/12/14/21?
I have worked for my employer for 7 years and have never heard people being made to wait for more than a month for their funds. This is the first incident.
I'm not impressed with this poor service from Momentum? This is unacceptable and I have no comment for Bradley.
I want my funds in my banking account today.
Thank you for bringing this to our attention. The matter will be escalated to the management of the fund in order to provide you with the necessary feedback and assistance.
Kind regards
NH
Thank you for bringing this to our attention. The matter will be escalated to the management of the fund in order to provide you with the necessary feedback and assistance.
Kind regards
NH
We apologise for the inconvenience caused in the delay.
Kind regards
NH
We apologise for the inconvenience caused in the delay.
Kind regards
NH
