1 reviews | Active since Mar 2014
Investment Policy Payout delayed
I called into the call centre on the 27th of November 2024 requesting a cancellation of my Old Mutual Flexi Investment policy (Policy Number: ***8). An agent who assisted me processed the disinvestment and sent me the reference number (***) and informed me that the payment will be processed in 3 to 5 workings. On the 3rd of December 2024 I received a Schedule of Payments Letter stating that the payment will be processed in 3 to 5 working days. It is the 19th of December and I still have not received the payment. I called into the call centre on the 10th of December 2024 to follow up and the agent who was assisting me said that she will escalate the matter via email and send me a ref number, she never did. So on the 12 of December I decided to visit the Old Mutual branch at Alberton City and the consultant who assisted me escalated and provided me with this reference number (CEB***) and told me that I should receive feedback in 48hours and if I do not receive feedback then I should come back to the branch. After not receiving feedback again I then returned to the branch on 18 December to follow up. This time another consultant assisted and called the call centre to follow up on my case and she was informed that the payment was processed but was reversed because the AI had included a lot of zeros at the end. The consultant was told that the escalation that was done on the 12 was null and void because it did not have a policy number so she had to process another escalation with the assistance of the branch manager so they processed another escalation (***). My question is if that happened then why did they not try to process another payment? Why must I follow up on a problem that has nothing to do with me? so you process a payment and if it fails then you expect the client to be the one that follows up to find out what the issue is because old mutual failed to communicate? Can I please get my payout.
We acknowledge receipt of your review and sincerely apologise for the service experience you encountered. We are committed to investigating this matter thoroughly and will make direct contact with you should further information be required.
Kind regards
Old Mutual Complaints Management
We acknowledge receipt of your review and sincerely apologise for the service experience you encountered. We are committed to investigating this matter thoroughly and will make direct contact with you should further information be required.
Kind regards
Old Mutual Complaints Management
