LC
Lerato C

1 reviews | Active since Jan 2017

09 Jul 2019, 18:00

Horrible service

I would like to express my regret in saving my money with old mutual due to the terrible service that I received when i tried to withdraw money from my investment policy. I have a max investment policy with old mutual for almost 5 years ,I then decided to do my first withdrawal which became a nightmare. According to my understanding it takes 5 days for the money to be paid out , although in my case its way more than that as I am still waiting from the 20 June 2019 till current. I must say the process was really unpleasant, the sign pad at the branch kept going offline which was time consuming I ended up spending almost 2 hours just to get the paper work sorted . Having to move from one desk to the other as per consultants that digital pad is always giving them problems. Why go digital if the device is not simplifying the process. Nevertheless I then got a follow up email on the same day to say I have a cession attached to my policy and I must send details of it before the request can be processed. I spoke to the lady at the branch as I knew nothing about that, she then said she will inquire and get back to me. The lady kept in touch and it took about 3 days for her to come up with a solution. So I was then contacted by a financial advisor on the 24 June who sent me a tax form that was needed to complete my request. I had to go to an internet cafe to get it printed and forward it back to him . Money and time spent. I don't understand why this could not get done at the branch initially. Couple days later I got an sms to say I need to verify my proof of residents , so again I had to go to the bank and get my statement printed which I don't understand as initially on my first visit I gave that to the consultant at the branch. As they where processing the POP the tax form was still outstanding which means the advisor didn't not submit to the relevant department, I had to call the advisor and follow up and he assured me he will follow up. This process has been really exhausting as i feel like am not a valuable client to old mutual. I mean the process of getting a loan at the bank is easier than what I had to go through trying to access my money. Today I had to call to do a follow up and I was told that my claim was only received on the 01/07/2019 ,which doesn't make sense to me as I have been busy with this process from the 20/06/2019. In any case there was a query on the system ,the money had not been paid in yet as they didn't know which account to pay it into . Please note nobody had contacted me to tell me about this if I had not call then I would not have known about this query. Going forward I will be ending my relationship with Old mutual and find some other institution that cares . I am really disappointed at this terrible service that I have received.

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Replies (1)
Old Mutual
Old Mutual's reply10 Jul 2019, 10:14
Official
Dear Lerato C

We are sorry to hear about the service experienced. We will investigate and contact you directly to resolve.

Regards
Thabiet Mintin
Complaints Management

Best regards,