Stay away from Momentum. Your money is not safe.

Item: Momentum (SA)
Rating: 1
Author: Herman R

Please stay away from Momentum! Do not trust them with your money.

My retirement funds were moved to another fund without any instructions or consultation. The transaction was incorrectly reported to SARS which has tax implications of a few hundred thousand rands. I have visited Momentum head office in Centurion more than once with zero response after three weeks.

Helpful (0)

Replies (4)

Momentum (SA)'s replyOfficial

03 Nov 2025, 12:01

Dear Herman
Thank you for your message.
I have escalated your complaint to the Investo service management team to assist you urgently.
Kind regards
Mvdm

Momentum (SA)'s reply03 Nov 2025, 12:01

Official

Dear Herman
Thank you for your message.
I have escalated your complaint to the Investo service management team to assist you urgently.
Kind regards
Mvdm

Herman R's updateReviewer Update

04 Nov 2025, 18:00

Dear Mvdm

I have not received any e-mail from Momentum in this regard.

Regards,
Herman

Herman R's update04 Nov 2025, 18:00

Reviewer Update

Dear Mvdm

I have not received any e-mail from Momentum in this regard.

Regards,
Herman

Herman R's updateReviewer Update

18 Dec 2025, 09:12

Due to the slow response from Momentum on requests for information I have received an administrative penalty of R2000 from SARS. Thank you very much Momentum.

Herman R's update18 Dec 2025, 09:12

Reviewer Update

Due to the slow response from Momentum on requests for information I have received an administrative penalty of R2000 from SARS. Thank you very much Momentum.

Momentum (SA)'s replyOfficial

18 Dec 2025, 09:59

Dear Herman

Your feedback has been referred for further assistance.

Kind regards

Momentum (SA)'s reply18 Dec 2025, 09:59

Official

Dear Herman

Your feedback has been referred for further assistance.

Kind regards