KM
Kanyane M

1 reviews | Active since Jan 2024

14 Feb 2025, 18:16

Surrendering a policy at Momentum SA

I spoke to Momentum agent last year June and decided to fill in the forms to join for Retirement annuity and the other investo. After few days I decided to cease everything I called momentum and send emails to stop both policies before they start billing but will all the communication only one policy was ceased and when they started billing the other policy I had to live with it. January this year I received a confirmation through emails that the other policy is reinstated and I'm the one who authorised it. I was shocked as to when did I do I immediately lost interest and felt like someone is able to decide on my behalf because they have my important information, then I filled in a surrender/cancelation form I found on momentum website and attached the necessary Supporting documents as stipulated on the forms under "Requirements" requesting that I want to cancel and get a refund of what ever I have already contributed. The person I'm communicating with through emails is giving me run arounds to a point where after sending proof of account from the bank, I received an email that I must take a picture of my bank card 🤔really? I mean which one is important because bank card and a proof of account? I thank God that I took a decision to stop what ever I started with them because what if I contributed for 10 years only to be given run arounds like this, I was never asked proof of address when I was joining but today I'm asked to submit proof of address but on the form it is stipulated that, proof of address is needed if you changed address which I did not. No one close to me will ever join Momentum SA, I feel sorry for people who are joining or investing through it.

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Replies (1)
Momentum (SA)
Momentum (SA)'s reply17 Feb 2025, 10:46
Official
Dear Kanyane
Thank you for your message.
I have escalated your complaint to the Investo management team for further assistance.
Kind regards
Mvdm