LH
Leshane H

1 reviews | Active since Jul 2023

03 Feb 2025, 10:24

Investo Nightmare

I made a disinvestment with Momentum on the 22nd of January filled out all the required paperwork and was informed it would take 5-7 days for it to be finalised,a few days later I was told there were outstanding documents which I sent through to my advisor. It is now the 3rd of February and I still have not received any payout. Each time I call client services I am transferred to another department where I am put on hold for a minimum of 10 minutes being told they are experiencing high call volumes and will attend to my call as soon as an agent is made available. For Momentum to debit my account is not a problem but to receive that same money it’s like pulling teeth,had I known it would be such a hassle to disinvest with them I would have taken investment policies with other companies. Surely it does not take close to 3 weeks to process a claim . At the rate that this is going I’ll probably only receive my investment on the 22nd of February.

0
Replies (2)
Momentum (SA)
Momentum (SA)'s reply03 Feb 2025, 11:46
Official
Dear Leshane
Thank for your email.
I have escalated your complaint to the Investo management team for urgent assistance.
Kind regards
mvdm
LH
Leshane H's update06 Feb 2025, 08:49
Reviewer Update
Urgent assistance?today is 3 weeks since I made the disinvestment and I am yet to be assisted,why do other financial institutions take 5-7 days to process a payment yet Momentum takes 3 weeks?next week will be a month,this is unacceptable and pathetic service towards your clients.