1 reviews | Active since Jun 2024
Matured Investment
I had invested money with old mutual for my child's tertiary tuition, the investment matured on the 26th February 2026 and in approaching them I was told I must give it a day or 2 to be released. It was released on the 3rd day but I couldn't withdraw and I went to old mutual bank Kolonade branch only to find out my money has dropped by 2.5k and the explanation was that it is affected by stock market. I asked that they give me my money and to my surprise I had to be charged a termination fee. I refused and asked that they sort that out. When I got home I call old mutual and a very rude woman who introduced herself as Feziwe told me that whether the investment is matured or not old mutual charges termination fee which is so surprising to me. I have never been so frustrated in my life, I thought I will not be struggling like this when the time for my child to go to school comes but old mutual is really frustrating me. Worse part for the past 12 years I have been paying B Meyer as an advisor and now he is nowhere to be found. I have sent emails and old mutual is not helping. Old mutual is good in taking your money on a monthly basis when that is done you will get to see how useless they are. Old mutual has really caused a lot of stress and I dont know what to do 😩
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 during business hours 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 during business hours should further information be required.
Kind regards
Old Mutual Complaints Management
