Etfsa
Late payment of redemption of investment

I have an investment account with EtfSA where I invest a monthly amount with them.

Their rule is that if you sell your investment, you get paid out in 7 working days from the date of sale.

I have done sales of investments (i.e. redemptions) in the past 2 months and both times they have experienced an "administrative error" resulting in late payment.

In fact, if I did not call the call centre to complain, I doubt I would have received my money at all. I have still not received the second sale which I had made on Monday 3 June 2013 (It is now Friday 14 June at 10:22am).

Company: Etfsa
Country: South Africa
City: Internet

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