Satrix Investments
Absolutely awful administration service

2 incidents refer.

My husband and I have a joint Satrix account. Last week we switched from one Satrix fund to another. Despite writing the quantum of funds required to be switched clearly on the forms, the call centre person wrote us 2 emails asking us again. Our response to her, supplying the info again, went unnoticed.

This week I tried to open my own Satrix account and duly deposited the lump sum as required. My FICA docs (proof of banking details & residence) caused multiple queries from the adminstrators over a period of 3 days. Not all at once, mind you, but bits and pieces. These FICA docs have been accepted by every bank and asset manager I've got accounts with, but not Satrix. Oh no, not Satrix. Call centre agents promised to get back to me but didn't. Eventually I told the supervisor Buthi I would not be willing to run around getting extra docs for 1 inv co and would therefore be closing my account. He seemed fine with that, no attempt to win back the business.

Let's hope I get my refund before Christmas!!!

Company: Satrix Investments
Country: South Africa
City: Call centre

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