Momentum Investo Refund Not Being Paid

In February I made a single contribution payment to my RA that was not allocated by momentum as there was apparently paperwork that was not completed. The time had lapsed for this to be viable for my tax year so I requested a refund of the funds and was told over the phone what was needed.

I sent through all documents on that day. The return email stated they did not have my signature on file and could not release my funds until I had gone to a police station and / got a commissioner of oaths to authenticate my signature 3 times on a copy of my ID.

I tried to dispute this as I had no time whatsoever to get this done, the payment was coming back into the same account it had left out of AND I had sent through ALL the proof, there was no was this could be *****ulent. I told them I would even do a video call with them to authenticate. This was not good enough. Also, funnily enough they did not need a copy of signature for any of my other RA contributions.

17 June I sent the signatures through to them. 21 June the email was acknowledge and it was stated that in 3-5 working days I would get my refund.

Emailed them on 1 July after 6 working days had passed. Called on the 2nd at 15:49 and spoke to Hlengiwe who let me know that due to the size of the refund it needed to be authorized, I told her I wanted it escalated and done and wanted someone to call me back the next day. None the former happened.

I received a mail on the 4th July stating “We are attending to the request and the refund should be finalised within 24-48 hours.”

No refund still, tried to call 7th, just sat on hold; called again today on the 9th, and sent a snotty email whilst waiting on hold. 15:52 got through and happened to speak to Hlengiwe yet again, I waiting on hold whilst she followed up, she informed me that whilst I was on hold that she and another person processed this together but it is awaiting authorization – so the EXACT same story a week apart. They have had my funds since February and have made me jump through hoops and do continuous follow ups with them. Endless frustration and hours spent on this just to get MY MONEY BACK IN MY SAME ACCOUNT.

If Hello Peter would allow, I would use extremely colourful wording to describe the likes of this unsavoury enterprise.