Tax free account withdrawal worse experience

Item: Old Mutual
Rating: 1
Author: Patience M

I regret opening a tax free account with Old Mutual. I made a withdraw on the 27 December 2024, I got documents to sign on the 3rd of January 2025 every time I call to make a follow up on why I haven’t received the payment all I hear it’s excuses after excuses. It’s the 16th January 2025 and still I haven’t received my money they tell me to wait for 9 working days for the process to be completed they have been singing that song every time I make a follow up since the 6th January 2025, they should just say it takes a month for you to get your money course clearly that’s where it’s heading. I wouldn’t recommend anyone to open a tax free account or an investment account with Old Mutual rather invest it at Liberty (Stanlib) I made a withdraw request on my tax free account on the 6th January 2025, got documents to sing on the very same day and the payment was made on the 7th January 2025 at 18:16

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Replies (1)

Old Mutual's replyOfficial

16 Jan 2025, 13:48

Hello Patience M, thank you for reaching out and sharing your experience with us. We sincerely apologise for the frustration and inconvenience you’ve encountered regarding your withdrawal from your tax-free account. Your feedback is important to us, and we take your concerns seriously.

We understand that waiting for your funds can be incredibly frustrating, especially when communication has not met your expectations. We strive to provide timely service, and it’s clear we have fallen short in this instance.

Please allow us to investigate this matter further. One of our complaint assessors will reachout to you.We want to ensure that your concerns are addressed promptly and that you receive your funds as soon as possible.

We appreciate your patience and understanding, and we’re committed to making this right for you.

Regards
Old Mutual Complaints Management

Old Mutual's reply16 Jan 2025, 13:48

Official