nM
nomsa M

1 reviews | Active since Feb 2021

19 Aug 2024, 15:29

Impact of Old Mutual's disinvesting my funds

I disinvested funds form old mutual. Old mutual called confirming disinvesting was in progress (12/08/2024) and when the funds will be deposited into my account, which was 3-5 working days, 16/08/2024 money will be in my account. I called on the 6th day 19/08/2024 enquiring about why the funds were not paid into my account. I was told Old Mutual needed to recalculate to the old premium as there was n increase on my premium, which will take another 3-5 working days, meaning the funds might be paid on the 23/08/2024. I disinvested on time not to be late, for exam fees payment for my son. Now I am late, and the exam fees are not paid. Old Mutual did not release my money sighting that there was an increase on my account premium, which I was informed by Old Mutual consultant that the increase in my premium was on the 1/8/24. Meaning the call I received on the 12/08/24 already knew of the increase and gave the date of 16/08/24 with that information in mind that the funds will be released. Old Mutual is delaying because Old Mutual is in the process of opening Old Mutual Bank so they dot want to show monies moving out. Why am I being inconvenienced for Old Mutual's benefit?

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Replies (1)
nM
nomsa M's update19 Aug 2024, 16:37
Reviewer Update
Good day Collen,

Thank you for coming back to me. I sent the request on the 8/8/2024. Still on the 19/08/2024. I am still told my funds are being processed. Why is it taking so long?