TM
Tshegofatso M

1 reviews | Active since Feb 2012

18 May 2018, 22:45

No return on investment for investment policy

I took a 5yr short term investment with momentum in 2013; which matured in Feb. I enquired about the maturity date in April as they kept debit monthly contributions. I then asked for the funds and filled claim forms. Week after week since 26 April i have asking when am i receiving my funds, they said they are reinvesting. After a few days of waiting i asked again when will the process be complete they say they are waiting for confirmation. The next week I enquire again; then they mention that the reinvestment didn't happen and then they offer my contributions back minus their administration fees of course. Meaning after 5yrs I have been giving them money and not benefiting anything. This is not what I agreed on and they do not respond to why am I not getting the interest. I claimed after the 5yrs I don't expect to get funds like I am claiming before maturity date. I held up my end; it's time they hold up their end of the agreement.

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Replies (2)
Momentum (SA)
Momentum (SA)'s reply21 May 2018, 07:14
Official

Thank you for your feedback, we will be in contact with you.

Kind regards

Michele Coetsee

Momentum (SA)
Momentum (SA)'s reply24 May 2018, 12:12
Official

I received confirmation that a service manager had made contact with you to resolve the matter.

Kind regards

Michele Coetsee