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Gt X

1 reviews | Active since Jul 2011

11 Dec 2015, 08:56

Misspelled email address cost me money

I wanted to withdraw and close my matured Fairbairn endowment from Old Mutual Wealth. I sent the forms through, and not hearing anything, I assumed everything was OK. Following up today, it turns out that there is some bizarre requirement for me to send in 3 specimen signatures, and the email was sent to the wrong email address (how this happened is beyond me since I received the withdrawal form at the same address). I gave my email address again, and I have not received it.<br> <br> Because of this disastrous administrative error, I have lost a significant amount of money, as I intended re-investing the money in an offs**** unit trust (as I stated in my initial call to Old Mutual Wealth). The Rand has plunged, meaning that I have to pay a high opportunity cost because of this error,<br> <br> I demand that Old Mutual Wealth email me the correct document without delay, and compensate me for the money lost due to their sloppy administration should the Rand depreciate further.

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Replies (1)
Old Mutual
Old Mutual's reply14 Dec 2015, 12:38
Official
Hello z3d,

I am sorry to hear of the service you have received.

I received confirmation that Old Mutual Wealth has been in contact with you directly regarding this matter.

Kind regards
Belinda Hunt
Complaints Management