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Nomadinga N

1 reviews | Active since Feb 2019

11 Feb 2019, 09:51

INVESTMENT PAYMENT

I have a small policy with INVESTOM MOMENTUM which I wanted to cancel and be paid whatever was left in it. . I contacted Momentum and was advised that I could only do the cancellation on the 6th on Feb 2019. @ 8:25 on the 6th of Feb 2019 I made a call and spoke to Masechaba she confirmed the valued to me and advised that she 1st has to disinvest the funds and pay the proceeds into my account after that. I asked her how long this process would take and she mentioned 48hrs . I jest called Momentum now and spoke to Dean who now advised me that this process take about 7 to 10 working days. This is not what I was initially told and this is my money I am not borrowing from them but wanting what if rightfully mine.

My question who is benefiting as far as the interest in concerned, is it me or Momentum, why am I being given different turn around times regarding my own money.

I don,t have to give a reason for my own money and certainly not to beg for it. No wonder people are so sceptical when it comes to investments companies make profits using our own money. I want my money paid into my account today.

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Replies (2)
Momentum (SA)
Momentum (SA)'s reply11 Feb 2019, 10:07
Official
 I would like to thank you for bringing this matter to our attention.  It is unfortunate that you have not had a favorable service experience and would like to apologise for that.  The matter has been escalated to the relevant department for investigation and they will be in contact with you shortly to assist further. 

Kind regards
Michele Coetsee
Momentum (SA)
Momentum (SA)'s reply12 Feb 2019, 09:10
Official
I received confirmation that the matter will be dealt with internally, it will be taken up with the service agent. We have started the process of selling the units, this takes 2-3 days and when the trader is finalised we will transfer the money over to your account.  The correct turn around time is 7 to 10 working days.

Kind regards
Michele Coetsee