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Tsakani S

1 reviews | Active since Mar 2014

21 Mar 2025, 07:48

Old Mutual’s Incompetence, Frustrating and Unacceptable Service

I am beyond frustrated with the incompetence of Old Mutual, particularly regarding the mishandling of my tax-free plan cancellation. Despite multiple emails, providing all required documents, and even receiving confirmation that my second tax-free plan would be canceled, Old Mutual still deducted money from my account again this month.

This entire issue started due to an error made by Caron Fisher, who duplicated my tax-free plan in the first place. Instead of correcting the mistake, Old Mutual has continuously failed to process my cancellation request, repeatedly claiming that documents are outstanding—despite the fact that I have submitted them multiple times.

At this point, I have lost all trust in Old Mutual and want nothing further to do with this company. Their inability to handle basic customer requests has led me to cancel all my policies with them. I also demand a refund for the incorrect deductions that they have taken from my account.

If you’re considering doing business with Old Mutual, I strongly advise you to think twice. Their lack of accountability and poor customer service make them an unreliable choice. I regret ever signing up with them and would not recommend them to anyone.

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Replies (11)
Old Mutual
Old Mutual's reply21 Mar 2025, 09:56
Official
Good day Tsakani,

We acknowledge receipt of your review and sincerely apologise for the service experience you encountered. We are committed to investigating this matter thoroughly and will make direct contact with you should further information be required.

Kind regards
Old Mutual Complaints Management
TS
Tsakani S's update24 Mar 2025, 19:11
Reviewer Update
I am following up on the message I received days ago, stating that Old Mutual would be in touch with me. Unfortunately, I have yet to hear anything from them. The lack of communication is extremely frustrating and unprofessional.
Please escalate this matter urgently, as the delay is unacceptable. I expect a response and resolution without further excuses.
Old Mutual
Old Mutual's reply24 Mar 2025, 19:25
Official
Good day Tsakani,

We are very sorry for the delay. We can assure you that we are following up regarding this.

Kind regards
Old Mutual Complaints Management
TS
Tsakani S's update25 Mar 2025, 20:35
Reviewer Update
I have yet to receive any response or call from your team. I am left completely in the dark as to whether my withdrawal is being processed or not.
This lack of communication is highly frustrating and unacceptable. Delays like this are unacceptable.
Old Mutual
Old Mutual's reply26 Mar 2025, 06:52
Official
Good day,

We acknowledge receipt of your review and sincerely apologise for the service experience you encountered. We are committed to investigating this matter thoroughly and will make direct contact with you should further information be required.

Kind regards
Old Mutual Complaints Management
TS
Tsakani S's update03 Apr 2025, 14:20
Reviewer Update
According to the message I received on March 26, 2024, the funds from my tax-free plan withdrawal were supposed to be in my account within five working days—yet I have still not received the money.
To make matters worse, Old Mutual duplicated the tax-free plan, and despite my request to cancel both, the process has been frustratingly slow. I followed up via email, only to receive a vague response claiming that an SMS had been sent confirming the cancellation. However, the SMS did not explicitly confirm that the plans were cancelled.
At this point, all I am asking is for Old Mutual to do the right thing:
  1. Send me a formal cancellation letter confirming that both plans are cancelled.
  2. Process the withdrawal as promised so we can part ways.
This entire experience has been exhausting, and I sincerely hope Old Mutual improves its service.
Old Mutual
Old Mutual's reply04 Apr 2025, 07:07
Official
Good day Tsakani,

We acknowledge receipt of your review and sincerely apologise for the service experience you encountered. We are committed to investigating this matter thoroughly and will make direct contact with you should further information be required.

Kind regards
Old Mutual Complaints Management
TS
Tsakani S's update23 Apr 2025, 06:08
Reviewer Update
Dear Old Mutual Team,
I am writing to express my continued frustration regarding the cancellation of my tax-free account. Despite multiple emails requesting that the account be closed and asking for a formal proof of cancellation letter, I was shocked to see yet another debit from my account.
This ongoing issue is unacceptable and highly inconvenient. I have made my intentions clear on several occasions, and I would like to know when I can expect this matter to be fully resolved — and more importantly, when I can finally have peace of mind.
Please treat this as urgent. I expect written confirmation of the account closure and refund of any unauthorised debits without further delay.
Old Mutual
Old Mutual's reply23 Apr 2025, 13:08
Official
Good day Tsakani,

We sincerely acknowledge your frustration regarding the continued deductions and the delay in processing your tax-free account cancellation. This is certainly not the experience we aim to deliver, and we regret the inconvenience this has caused you.

We can assure you that one of our consultants will reach out to you today to assist you further.

Kind regards
Old Mutual Complaints Management
TS
Tsakani S's update25 Apr 2025, 10:03
Reviewer Update

I would like to clarify that I never instructed Old Mutual to open a second tax-free investment plan (***0 Ominv/2). This additional plan was opened by one of your consultants without my consent. As such, I do not believe it is reasonable or acceptable to expect me to complete any disinvestment forms to rectify a mistake that originated from your side.
In my initial complaint, I highlighted that I was being charged twice, and I was subsequently informed that an instruction had been sent to cancel the second tax-free plan. I trusted that this matter was being handled appropriately.
I will not be completing any further forms as this situation is a result of Old Mutual’s internal error. I respectfully request that you take the necessary action on your side to resolve this matter without placing any additional burden on me.
Old Mutual
Old Mutual's reply25 Apr 2025, 18:58
Official
Hello Tsakani,
We take your feedback seriously and are committed to resolving this matter in a timely manner. Your trust is important to us, and we understand the burden that has been placed on you due to our error.

We are currently looking into the matter and our team will ensure that this issue is resolved as quickly as possible.

Regards
Old Mutual Complaints Management