1 reviews | Active since Dec 2009
Easy to open accounts but you'll wait days to access your funds
I have an investment policy that I've had with Old Mutual for roughly 5 years set up in the name of my son, the account was simple and easy to set up online, no issues no hassle. Recently I've attempted to withdrawal from the investment and the process is not so efficient affected by lengthy turnaround time along with long wait calling the contact center for old mutual to provide feedback on the status of withdrawals. When your call cuts the consultants don't even return the call, poor client experience to say the least. This is the second attempt to withdraw in a space of 2 years and the experience to access your own funds is ********** albiet the withdrawal process has been made simpler via what'sapp. I've provided all sufficient documentation, I'm the policy payer, my name appears on the unbridge birth certificate, provided my ID yet I'm still required to provide a letter indicating I'm the guardian and the best part is the letter needs to be stamped by a commissioner of oath. Why such a manual process we in 2023. I wish to close off this account and all funds paid into the nominated account because even after 8 days, old mutual has failed to payout the withdrawal at a time when the funds were needed. Please take learnings from fnb where withdrawals happen with in 48hrs and van be instructed digitally. I cannot go through such hurdles when attempting to withdraw in future.
We are sorry to hear about the service experience. We will investigate and contact you directly to assist.
Regards
Thabiet Mintin
Old Mutual Complaints Management
We are sorry to hear about the service experience. We will investigate and contact you directly to assist.
Regards
Thabiet Mintin
Old Mutual Complaints Management
Thank you for your response and paying out the withdrawal request. As per my complaint logged I have requested the account to be closed off and all remaining funds transferred to nominated account. Thanks.
Regard
Chad
Thank you for your response and paying out the withdrawal request. As per my complaint logged I have requested the account to be closed off and all remaining funds transferred to nominated account. Thanks.
Regard
Chad
