1 reviews | Active since Jun 2014
Old Mutual Disinvestment Process is stuck in the dark ages - Coronation IS THE TRUE MARKET LEADER!!!!
The Old Mutual disinvestment process is stuck in the 1950's. I have been contributing to an investment since 2004. I am now in the process of buying a house and need to disinvest in order to use the money for a deposit.
I went on to the Old Mutual Self service website to attempt to withdraw however no luck. When i clicked on the contact us tab it opened up a chat. The chat has a 'bot' (Robot) on the other end that kept on replying with preset messages like how can i help. You ask for the number of the call centre and it just gives automated messages making no sense. Well i finally did get the number and called the call centre requesting to cash up. The call centre said that they were emailing me the forms to disinvest. Before ending the call the call centre agent told me that it would take 11 to 15 days before the disinvestment will be completed and money in my account. I enquired why so long and she says that it would take 4 days to do the calculation. That is hogwash. All they needed to do was take the number of units and multiply it by the daily closing rate and bam, done. How in the world would that take more than 5mins let alone 4 days. On the disinvestment form i had to fill in all my personal details including name, surname, address, postal address.!!! All of which is allready in their system on my profile. Secondly i needed to fill in my bank account number and provide statements proving that this is my account! Preposterous once more as this is the account that i was using to paying my monthly debit order HAAAALOOOO!
I also withdrew from Coronation on MONDAY. I went on to their website and into my profile clicked on the withdraw option. I got an OTP which I punched in & boom the money is in my account today i.e 2 working days later.
Good people if you want to invest go with Coronation. They are market leaders in convenience and get you better returns than old mutual anyway. What surpasses me is that old mutual have more money yet they have a much more archaic system.
GET WITH THE PROGRAM OLD MUTUAL. WAIT FOR THE TERMINATION LETTERS ON BOTH, MY WIFE'S & MY LIFE COVER
I acknowledge receipt of your complaint and refer to my email. This matter is receiving our attention and you will be notified as soon as this claim is finalised.
Regards
Carol Olckers
Complaints Management
I acknowledge receipt of your complaint and refer to my email. This matter is receiving our attention and you will be notified as soon as this claim is finalised.
Regards
Carol Olckers
Complaints Management
