Poor Service and Unauthorized Transactions

I am writing to express my deep disappointment with the service I have received from Old Mutual.

In December 2025, I joined the Educational Savings Plan for both of my children. These were set up as two separate plans. From January onwards, the debit orders were inconsistent — sometimes processed earlier or later than the agreed date. On several occasions, I had to reverse transactions, and at times, double debits were made.

Due to these ongoing issues, I visited the Protea Gardens branch in May 2025 to cancel and surrender both savings plans. After all the payments I had made, I only received a payout of about R1,200. On the same day and at the same branch, I opened two new educational savings plans for my children. Unfortunately, the same issues persisted — double debits and deductions made before the agreed date.

Additionally, I joined a funeral policy through the Old Mutual official website. However, the system also attempted to debit the premiums earlier than agreed. As a result, I reversed some of these debit orders, and the policy eventually lapsed. I received both an email and an SMS confirming the lapse in September 2025.

To my surprise, on 25 October 2025, Old Mutual still processed a debit for the same funeral policy. Then, on 27 October 2025, I went to the Protea Gardens branch to surrender my savings as I am no longer satisfied with Old Mutual’s services. I could not be assisted that day due to poor service, so I returned on 28 October.

During my visit, I was informed that I could not withdraw or surrender my savings because they were “already on surrender stage,” implying that I had already withdrawn the funds — which I had not. I requested details of who processed the surrender and on what date, but I was told the advisor would contact me. I left my contact details as requested, but I have not received any call or update since.

I am extremely dissatisfied with the repeated errors, unauthorized transactions, and lack of communication from Old Mutual. I kindly request that you urgently investigate this matter, clarify the status of my savings, and provide a full explanation of all unauthorized transactions and surrenders.

I look forward to your prompt response and resolution.

Sincerely,