Old Mutual Closed My Account but Is Withholding My Money – No Refund Since 30 December 2025

I am extremely dissatisfied with the service I have received from Old Mutual Money Account / OM Bank. My account was closed by Old Mutual, however funds later bounced back into the closed account on 30 December 2025. To date, Old Mutual has not refunded my money, and no one is taking accountability for where my funds are being held. Old Mutual requested documentation in order to process the refund. I submitted all requested documents, including: Copy of my ID Bank statement Confirmation of my bank account details for refund purposes Despite this, there has been no refund and no clear explanation. On 5 January 2026, a consultant named Zanele emailed me advising that I should complete a closure form and reopen the account. I responded clearly, stating that: I am not requesting to reopen the account I am requesting the refund of my funds that are currently sitting with Old Mutual On 7 January 2026, I contacted the call centre and spoke to Khanyi, who provided me with reference number 1***2 and promised a call back with an update before the end of the day. This call back never happened. I have received conflicting information, broken promises, and no accountability. My money is being held without explanation, timeline, or resolution. This experience has been exhausting, stressful, and completely unacceptable for a financial institution. A bank cannot withhold a client’s funds indefinitely or force a client to reopen an account to access their own money. I am requesting: Immediate confirmation of where my funds are being held Immediate release and refund of my money Clear communication and accountability If this matter is not resolved urgently, I will escalate it to the Ombudsman for Banking Services and the Financial Sector Conduct Authority (FSCA). Old Mutual’s Money Account handling of this matter has been deeply disappointing.