1 reviews | Active since Dec 2017
Momentum debit order failures
I recently requested my broker to change my debit order date of my Momentum Investo Retirement Annuity, due to the fact that i recently had changed jobs and my salary is paid on a later date now.
The debit order date was requested to be moved from the 26th of the month to the 1st of every month, also this was done well i advance so that there could be NO reason for a problem.
On the 26th of February my debit order went off my account which i did not want but i left it and thought as of the 1st of April it would be rectrified, BUT no on the 10th of March a second debit order was deducted from my account for the same amount as one the 26th of February. Now i am no genius but by changing a debit order you change nothing to do with the cover and if the company feels the are losing out then atleast only deduct prorata for those 4 or 5 days that you feel you missing out on, my broker also said he does not understand how they cando this.
Now due to someones incompetence at Momentum i have now lost both my payment holidays because all i wanted to do was change my debit order day (REALLY???).
I will well and truely think twice before suggesting to anyone to take a Momentum policy of any sorts if they cant even get a debit order date change right. Momentum is not the only one who provides retirement annuities.
Not happy at all.
I would like to thank you for bringing this matter to our attention. It is unfortunate that you have not had a favourable 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.
Regards,
ND
I would like to thank you for bringing this matter to our attention. It is unfortunate that you have not had a favourable 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.
Regards,
ND
Does Momentum work in arrears? So do I pay at the end of the month for the month that has passed? Do I also pay for a change of date? Your financial planning does not make sense.
The debit order went off on the 26th of February which as requested to go off on the 1st of March. OK fair enough so now the debit order has gone off for March.
Then on the 9th of March another full month debit order went off again, WHY? that is what I want to know. Why did another debit order go off? And yes I reversed that one.
Surely the debit order on the 26th of the month covers the March payment? So why on earth did another full amount be deducted again just because I changed my debit order date???? So then on the 1st of April? You would take another full deduction to cover April. so because I moved a debit order date I get charged a full extra months debit order amount?
So we have two deductions in one month to make up the maybe 3 days that I moved the debit order?
Hence why I say you do not make sense... Explain to me why the debit order went off again on the 9th of March and let me understand but so far all I am seeing is a load of *********** people telling me stories.
Does Momentum work in arrears? So do I pay at the end of the month for the month that has passed? Do I also pay for a change of date? Your financial planning does not make sense.
The debit order went off on the 26th of February which as requested to go off on the 1st of March. OK fair enough so now the debit order has gone off for March.
Then on the 9th of March another full month debit order went off again, WHY? that is what I want to know. Why did another debit order go off? And yes I reversed that one.
Surely the debit order on the 26th of the month covers the March payment? So why on earth did another full amount be deducted again just because I changed my debit order date???? So then on the 1st of April? You would take another full deduction to cover April. so because I moved a debit order date I get charged a full extra months debit order amount?
So we have two deductions in one month to make up the maybe 3 days that I moved the debit order?
Hence why I say you do not make sense... Explain to me why the debit order went off again on the 9th of March and let me understand but so far all I am seeing is a load of *********** people telling me stories.
I can see we gonna argue in circles all day and nothing will come of this from your side so leave it at that and i will be instrcuting my broker to take my business elsewhere. If you cant get this simple task right what is to happen the day i retire.
Do not apologize forsomething that you clearly have no desire to feel sorry about, I mean at the end of the day its my money not yours that you playing with why would you care.
I can see we gonna argue in circles all day and nothing will come of this from your side so leave it at that and i will be instrcuting my broker to take my business elsewhere. If you cant get this simple task right what is to happen the day i retire.
Do not apologize forsomething that you clearly have no desire to feel sorry about, I mean at the end of the day its my money not yours that you playing with why would you care.