TM
TERANCE M

1 reviews | Active since Aug 2019

16 Sept 2021, 15:55

Dis Investment not paid out.

I made a disinvestment on my tax free account on the 1st of September 2021. Up to now, I have not received my money or any communication stating the reason for the delay. When I phone, I am being told that my withdrawal is stuck with the pricing department. It is now over 2 weeks and the reason why I made that withdrawal was because I needed the money urgently. It is as if I am applying for a loan yet this is my money. First of all I struggled to do the withdrawal with a lot of paperwork being required. Now I am still waiting for the money. Can someone at Old mutual respond with an answer to my query. I did a withdrawal hoping to pay for something due on the 17th but up to now I still have not received my money. Can someone assist for me to get my money soon.

If withdrawing your money can be this hard, then I dont think I would want to invest with such a company.

0
Replies (2)
Old Mutual
Old Mutual's reply16 Sept 2021, 15:56
Official
Dear Terance M

We are sorry to hear about the service experience. We will investigate and contact you directly to assist.

Regards
Coleen Aanhuizen
Old Mutual Complaints Management
TM
TERANCE M's update21 Sept 2021, 13:25
Reviewer Update
Today its the 21st and I am still waiting for a resolution to my query. Someone communicated with me last week and I was paid part of my money. the issue is that there is no indication of when I will get he full amount. I was told that the withdrawal is stuck in Pricing since the 2nd of September and they are working towards fixing it. How long does it take to fix the issue. Also the communication is one way. I just have to wait for them to call me. If I call on the call center number, the people there dont know anything, they just say the issue is being resolved.

Yesterday I ended up withdrawing another investment from another company and it has been paid into my account already. I cant believe that a big company like Old Mutual could be this ***********. I am really disappointed.