Keeping track of investment pays
Company pays out money after contract cancelled
Whether you want to send your children to university or retire on a yacht, investing is essential to getting you where you want to be.
Most consumers are overly indebted and find it difficult to invest either for a short-term or a long-term project.
Lesiba Langa said he was one such consumer and, when he found a company that could take an investment of R100 a month through a debit order, he decided to sign up and invest with the company for an indefinite period.
Langa, 54, of Kempton Park, said he came across a company called Amathuba Gold Investments while surfing the web. After calling them for more information, he was required to complete certain forms including a debit order form, he said.
Langa said he was impressed by the manner in which they were to empower him to have financial freedom.
They also told him he would be informed of his financial growth every quarter.
“This went on hassle-free for the first two years, but stopped in the third year without communication,” he said.
His debit order continued to be drawn from his account without fail until recently when he noticed that Bid4Gold was now debiting money from his account instead of Amathuba Gold.
He said there was no communication about this change and the terms and conditions of the contract had also drastically changed from what he had initially agreed to.
“I discovered that this new company was located at the same premises and used the same telephone numbers as Amathuba Gold.”
Langa said he decided to cancel his contract as he had an option to do so or to let it run indefinitely.
Although the cancellation was done in June, Langa was only paid last month after he inquired about the breach of contract.
Without an explanation, they deposited R500 instead of R6 000, Langa said.
It was after another telephone call that he was told the terms of payment had changed and that he would receive money every month.
Tammy Botha of Bid4Gold said although Langa cancelled his contract in June, the money was only going to be payable last month.
“We informed him of the cancellation process and time period involved, and an initial payment of R500 was done to him on November 15,” said Botha, adding that the company was testing if the payment went into the correct account and that the second and full payment would be effected on Friday next week.
However, yesterday, Botha had a change of heart and made a payment of R5 586 into Langa’s account.
“We made contact with our client Lesiba Langa this morning [Tuesday] and he confirmed receipt of the outstanding balance that was due to him.
“We also offered our sincere apologies for any miscommunication or frustration caused,” said Botha.