Old Mutual

Old mutual is very quick in on-boarding clients and debiting their money.

But come a time when you need your money it's a story after another.

Issue 1: I have an investment account that I have been saving into monthly the past two years and months, on this investment the promise is you receive your money (when you claim) between 2-7 business days upon making claim. I made my claim on 09 November 2021, I received a follow up email asking me to send supporting documents on the 15th of November 2021, today is the 24th of November and I am still in process of receiving the money I claimed for, talk about being slow 🐌 and poor service delivery.

Issue 2: I took out a life cover which I canceled within 31 days of start date. According to the contract, if you cancel within 31 days of contract start date you are eligible for a refund on your premiums. Contract start date is 16 September 2021, October 4th I sent my cancelation request letter to the advisor, on the 8th of October they asked for proof of banking which I sent same day. After this no correspondence/communication was sent to me. A month later (20th of November) after 1st debit order they debited my account, I enquire and I was told there are outstanding documents needed, however, no correspondence was sent to me. I call the advisor only to find the correspondence was sent to him, however, they were not in touch with him (how I also don't know), fine I resend my proof of banking details again and ID copy (which was a requirement 2nd time around). On 28 of October they finally send confirmation of cancelation via sms, but surprise surprise on the 20th of November they debit me again (3rd debit order) and when called they said cancelation is due on the 20th of November.

Okay what about my refund? They advise about only being able to refund me for October and November alone, why? Because cancelation only took place in November. Whose fault was it that the cancelation was late? Old mutual and yet I must pay for their slowness.