TT
Tondani T

1 reviews | Active since Jun 2023

04 Jun 2023, 15:51

No money after withdrawal application. Old mutual are ******

I have investment policies with old mutual. Submitted an application online to withdraw some funds on May 06 2023 .I needed the money before 24 May 2023.I received an sms from them acknowledging my application with a reference number CED***. They also said they will contact me for any outstanding issues. I decided to call them on 11 May to check if my application was successful since there was no communication from them. I was told that I need to submit a tax declaration form . I submitted the form the same day as requested. No communication from them after that.I called again and was told to submit the tax form as the one I sent could not be found. And this time the form I received was a little bit different. There was a provision for an adviser to complete and sign. I was confused and decided to call them.and was told to go to the nearest branch. I took a day off from work on Tuesday 16 May and drove to the nearest branch about 45km.The lady who assisted me decided to call the call centre to get the status of my application. Only to be told that everything was fine and the money will be deposited in 2 days .time.I went back home very disappointed because I took a day off from work and used money for petrol for nothing.By friday 19th the money was not paid as promised. I called on the 19th and the lady I spoke to told me that the money was not paid because there's 2 confusing information. One says everything is fine and money should be released and the other says outstanding documents. She told me that the other info will be deleted and money will be paid in 2-5 working days. On monday 21 May I received an sms from old mutual saying they are waiting for outstanding documents again. I called and the lady I was speaking to told me to hold and she disapeared.A male employee then answered my call only to tell me that he can't find my application. I went to the branch again on the 25th May and was told they cannot see my application. I was so angry asking myself if I'm struggling to deal with OM as the policy holder, Will my kids able to get a cent from these policies when they only have my death certificate? I decided to abandon the partial withdrawal application and instead withdraw all the money and close the policies.The following week, I called the lady at the branch to check if everything was ok regarding my application. She confirmed and said that the money will be paid on Thursday 1st or Friday 2nd of June. To date I'm still waiting. I'm confused and exhausted. I've already spent a lot of money on calls and trips to the branch for nothing. Old Mutual are ******.

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Replies (1)
Old Mutual
Old Mutual's reply04 Jun 2023, 16:06
Official
Good day Tondani

We received your review of 04 June 2023

We sincerely apologize for your service experience. 

We will investigate the matter and contact you directly should we require additional information. 

Regards 
Bilqees Carelse
Old Mutual Complaints Management