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Zanele X

1 reviews | Active since Mar 2018

14 Mar 2018, 10:29

OLD MUTUAL DOES NOT WANT TO PAY MY INVESTED FUNDS!! CCC***5

I have been investing with old Mutual for about 4 years . The financial adviser I was allocated to left the company and a new one was allocated. I didnt receive joy at all he didnt know what he was doing and I asked that they change him and they did nothing! I stayed for a year with no financial advisor and with no communication from Old Mutual!!!

On the 22 February 2018 I decided to withdraw all my funds, I sent all the required documents and I was promised that I will get my money between 10 -15 working days.

Since I do not trust them I decided to follow-up, around the 3rd of March and the consultant could not tell me the exact date when my money would be paid back ( this is because my application was not processed)

Yesterday the 13 of March I called to check if I will get my money on Thursday or Friday , and they are telling me that the forms were only processed on the 5th of March they will start counting from that day .

Today 14 March , the cosultant told me that I need to wait for another 7 days because they want to sell the units

I requested to speak to the manager and he told me they need to sell the units within the next 7 working days and the bank will also another take 7 days to clear the funds, these 7 days he is mentioning is above the promised 15 days. So it means that the waiting period changed from 10-15 working days to 30 working days (42 days) waiting period. I have never skipped the agreed payments on a monthly basis , but when I want my money I am taken from 1 pillar to another ! I am so dissapoited in the poor service that Old Mutual rendered to me!!

I do not advise anyone to invest with Old Mutual

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Replies (1)
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Zanele X's update15 Mar 2018, 11:59
Reviewer Update
Good day, Thank you for your prompt response and your assistance , my funds were indeed paid today and they are reflecting already . Regards