1 reviews | Active since Dec 2009
Quick to open accounts but Slacks with customer service.
I've opened a TFS Unit trust for my son around 2017 I knew that a time would come for me to disinvest from the fund to utilize it for school fees. The service experience I've had with Old Mutual is so pathetic I would not recommend anyone signs up with them. They do not respond to emails, and in light of the lockdown they make it extremely difficult to withdraw funds. I sent an email request on the 26th January to withdraw from the unit trust. I completed the forms and submitted all supporting docs; there was one particular field that has to be completed that was required to be stamped by a commissioner of oath if a withdraw is on behalf of a contracted party (why do I need to certify that my son is my son in order to withdraw), I was not prepared to visit the police station and possibly expose myself to COVID and request info on whether there was a workaround this, on the 1 Feb I sent a follow up email, NO REPONSE. On the 8th of Feb I then sent another follow-up email and requested the complaints departments details. Seems like all communication goes into a black hole. I'm at a point where I would rather close off the Unit trust an move it over to FNB as the withdraw process is quick and efficient.
We are sorry to hear about the service experience. We will investigate and contact you directly to assist.
Regards
Complaints Management
We are sorry to hear about the service experience. We will investigate and contact you directly to assist.
Regards
Complaints Management
