Old Mutual bank: SAFPS listing without notification.

I recently made a funeral benefit claim with Old Mutual bank. My claim was paid into Old Mutual Money Account. The rationale behind this was that money would available promptly. I was advised to use this account since it would speedy up payment.

The claim was paid promptly into this account. I installed the mobile app for the use of the account. I performed my transaction without challenges.

I was convinced that the account is fully functional. The challenge came when I performed the second transaction, the card declined. I tried to log in to the mobile app and the system kept on give an error message. I contacted their call centre and only to be told the card was suspended and funds frozen because my ID was flagged by SAFPS.

Old Mutual bank did not contact me on the matter but suspended and froze money that was meant for funeral benefit.

The funeral was on Sunday and the payment was deposited on Monday, which clearly meant I owed service providers for the funeral. On my first transaction the account is suspended. The inconvenience is unbearable noting that the bank now demand that I must send them an approval letter from SAFPS. I have no business and arrangements with the NGO but with Old Mutual, yet I am expected to seek a clearing letter from a third party. It is unacceptable that my funeral benefit funds can be frozen simply because of a third-party I did not consent to. Failure of Old Mutual bank to notify me as their client is unfair and demands a thorough investigation.