1 reviews | Active since Mar 2009
Shocking, *********** "service" from Momentum CI
I am an office bearer of a small sports club which has its development funds invested in Momentum Collective Investments Money Market Fund units (investment number RU***). Previously, we received monthly statements detailing the entries and the month-end value of the investment. A communication was received in June 2021 (and monthly since then) advising that, because of the POPI provisions, we would need to register for on-line access to receive the required log-in details and password, We submitted the required form on 16 August 2021 and received the usual automated acknowledgement of receipt promising a response within one business day. On 24 August 2021, we were copied with an internal e-mail sent to *** with the message " Please assist the client with the online request" On 31 August 2021, we received a further e-mail advising that the matter had been "escalated" to the web support team. On 7 September 2021 I wrote again to Momentum complaining about the lack of service and threatening to withdraw the funds. On * September 2021 we were copied with yet a another internal communication to the Website support team : "Kindly arrange for online access and provide the client with feedback once granted". No response. On 11 October 2021 I wrote yet another "stinging" email about the lack of response. No response to that e-mail as well. We have now written 5 e-mails to Momentum CI without any resolution of the matter in sight. The impact of this impasse is that the Club no longer has any way of accessing the information on its investment , or further investing in it, or withdrawing any funds from it. Certainly. because of the above-mentioned *********** "service", we probably have decided to transfer this investment to another institution, once the matter has been resolved. On request by a COMPETENT person at Momentum CI I can provide copies of all the e-mail correspondence to which I have referred. I can be contacted on ***.
Kind regards
CK
Kind regards
CK
