1 reviews | Active since Feb 2025
Immediate Payment Delayed : Very Frustrating Experience
I made an immediate payment from my Old Mutual Money Account to my Capitec account because I needed to use the money urgently. I was charged R25 for an immediate payment, which clearly suggests that the transfer should be instant.
However, more than an hour later, the money still had not reflected in my Capitec account. When I contacted Old Mutual Money for assistance, I was told that the transaction is showing as pending and that it may take up to 24 hours to be processed due to technical issues on their side.
This is extremely frustrating and unacceptable. If a payment is advertised and charged as “immediate”, customers should not be told to wait 24 hours afterward. I am being inconvenienced and unable to use my own money because of Old Mutual’s technical problems, yet I still had to pay a service fee.
I expect better reliability, transparency, and accountability from a financial service provider. At the very least, the immediate payment fee should be refunded, and customers should be properly informed when systems are experiencing issues.
Very disappointing service.
Kind regards
Old Mutual Complaints Management
Kind regards
Old Mutual Complaints Management
However, this response is incorrect and misleading. The money has in fact been deducted from my Old Mutual Money account, yet it has not reflected in my Capitec account. This means the funds are currently missing / in limbo, and I am unable to access or use my own money.
This is extremely concerning for a financial institution. It is unacceptable to tell a customer that funds were not deducted when their account clearly shows otherwise. This goes beyond inconvenience and raises serious concerns about system reliability, accuracy of information, and customer trust.
I urgently require:
1. Immediate clarification on where my funds are
2. Reversal or settlement of the missing amount without further delays.
3. Proper accountability for the incorrect information provided
Customers should not suffer financial stress due to system failures and inaccurate communication. This experience has been very disappointing.
However, this response is incorrect and misleading. The money has in fact been deducted from my Old Mutual Money account, yet it has not reflected in my Capitec account. This means the funds are currently missing / in limbo, and I am unable to access or use my own money.
This is extremely concerning for a financial institution. It is unacceptable to tell a customer that funds were not deducted when their account clearly shows otherwise. This goes beyond inconvenience and raises serious concerns about system reliability, accuracy of information, and customer trust.
I urgently require:
1. Immediate clarification on where my funds are
2. Reversal or settlement of the missing amount without further delays.
3. Proper accountability for the incorrect information provided
Customers should not suffer financial stress due to system failures and inaccurate communication. This experience has been very disappointing.
Regards
Old Mutual Complaints Management
Regards
Old Mutual Complaints Management
Regards,
Old Mutual Complaints Management
Regards,
Old Mutual Complaints Management