Old Mutual Tax Free Savings Account. Debit Order Delay

I’ve generally had a very good experience with Old Mutual over the years, which is why this situation has been particularly disappointing.

I initiated a simple debit order instruction from an Old Mutual bank account to an existing Tax-Free Savings Account back in December 2025. I visited the branch in person, completed all required documentation, and the process was confirmed as submitted correctly.

Despite this, and despite numerous follow-ups over several months, the debit order has still not been implemented. The funds that were meant to be invested have simply remained idle, with no clear explanation or resolution.

What makes this unacceptable is that this is a basic administrative process, yet it has dragged on for months without execution. Communication has largely consisted of assurances that the matter is “being processed,” but no tangible outcome has followed.

Frontline staff have generally been professional and helpful, but there appears to be a serious breakdown in Old Mutual’s internal processing and escalation mechanisms.

Delays of this length for something as fundamental as setting up a debit order are not reasonable and fall far below the standard one would expect from a financial services institution of this size and reputation.

I hope Old Mutual takes this feedback seriously and addresses the underlying operational issues, because experiences like this undermine what is otherwise a strong brand.