kN
khanyisa N

1 reviews | Active since Oct 2013

25 Feb 2025, 14:23

Investments ******

If i could give a 0 rating I would. It’s so painful to watch someone who has worked her whole life putting money away for her retirement be moved from pillar to post with no end. My mother has had an investment with OM from 1997, when it was time to cash out her investments in 2021,she was given the run around to claim the 1/3 of the money where it ended up taking 6 months to get it, this was after involving the Ombudsman, meaning it was ******.She was then told the other money left must mature before she can claim the balance which she was told she will be paid a monthly salary while the money matures but every single month, the money goes up instead of down while she needed to cash-out and fix her issues. Finally in 2024, her money had matured to the required figure, when trying to put in the claim, she was told, she owes Sars of which she is aware of and willing to pay whatever is owed to Sars. In 2025, when it was time to payout, she is told her money has gone up again and she can’t claim but rather be paid monthly until it is finished… what kind of nonsense is that? Anyway that is not the worst of it, she proceeded to request payout, gave the her banking details (not that lousy non secure OM bank thing) and told them pay the money and send via SArs so they can take their dues. She goes to check her progress today, now the OM ******* have emptied EVERYTHING in her investment account. No payment to her, no payment to SARS, she called and was told “don’t tell me you want your money, don’t tell me nonsense” by the "very competent” consultant. If my mother suffers health issues because of this thievery happening at OM, her blood will be in your hands!!!!!!!

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Replies (3)
Old Mutual
Old Mutual's reply25 Feb 2025, 14:27
Official
Good day Khanyisa,

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
kN
khanyisa N's update02 Mar 2025, 11:19
Reviewer Update
No feedback whatsoever, the online reply is just for show
Old Mutual
Old Mutual's reply02 Mar 2025, 12:03
Official
We are very sorry for the delay. Our consultant will be in touch tomorrow to assist.