Momentum - Two Pot Withdrawal

I submitted my two pot claim on 2 September 2024, but their WhatsApp process couldn't verify my banking details after numerous attempts. I was advised by one of their call centre agents to keep trying as management were aware of the issue but were trying to resolve it. I was unsuccessful with the WhatsApp process and I then submitted the paperwork via email on 9 September 2024.

My claim was only reviewed by the administrator on 9 October, so the company gave themselves a month to do nothing with the submitted documentation. Since then, the claim went to QC and it went back to the administrator 10 October and nothing has happened since. The manager was going to give me a call but I still have not received a call from her either.

My first escalation on the claim was on 2 October and then I escalated again on 9,10,11,16 October with still no progress. This current timeline exceeds the communicated timeline of four weeks, where the payment should have been made. This is timeline Momentum has stated themselves. A call centre agent, even then said the 4 weeks timeline is from the time the claim gets allocated to an administrator, so if you submitted a month ago and the claim wasnt allocated to someone then no one was working it and you still have to wait 4 weeks from date of administrator allocation. (Question with this scenario, why would it take 4 weeks to have the claim allocated? Especially when within that 4 week period there have been escalations which have prompted the first step claim allocation.)

It is worthy to note, at this stage on 16 October, my funds have still not been disinvested and SARS has not been contacted which takes another week in order to complete the claim process.

The lack urgency might suggest that Momentum is intentionally delaying paying out the funds timeously, so that they can keep they seem in a better financial position to the markets.