CB
Coralet B

1 reviews | Active since Feb 2018

19 Feb 2024, 09:25

Old Mutual stole my child's money.

I need to say that I am giving it one star only because I have to, I would not have given it any stars if it were up to me.

Old Mutual has everything in writing as to why I chose on behalf of my minor child, to do a disinvestment with them, if you are reading this on behalf of Old Mutual - go look up that 2 page statement that I sent back in January.

In short, Old Mutual has ****** R29K+ of my minor child's money, and their argument seems to be that it was paid to me - Well NO it wasn't! What was paid is the sum of the debit orders, what was NOT paid is the lumpsum money of R29K+. I even have it in writing that the money is reflecting on their side, but needs to still be allocated to my son's account. How can it be that after 2 months this money is still not allocated?? When I asked them, all of a sudden all my emails are being ignored. Who has the time to spend hours on a phone call in a day to only have someone answer the call, not even help or transfer the call to the right person who can help? I have been fighting this fight since December 2023 and now in February 2024 there is still no joy.

Please to anybody reading this, DONT EVER make use of Old Mutual. Their products sound good but they only interested in getting their filthy hands on your hard earned money, they don't care about you or your family's financial well being.

0
Replies (1)
CB
Coralet B's update29 Feb 2024, 10:12
Reviewer Update
My disinvestment forms were submitted on the 15th of January. I was made to believe that the entire allocation, disinvestment and payout would take no longer than 14 working days, it's been 32 working days, and to be fair, I have only received a response from OM about this once I went to Hello Peter. Where would I now, 32 working days later, need to go in order for my son's inheritance to be paid back to him?