Stay Away from Sanlam

1. I increased my retirement annuity contribution in March and the change was only implemented in June. I received no communication on the delay. 2. When the change was made I clearly stated that the day of the debit order should be on the 27th of each month. 3. The 27th of May passed and I realised the debit order has not gone off. 4. I give them a call and apparently the new date which they selected for me is now the 1st of each month and I’m not allowed to cancel the debit order, because I was threatened that I wouldn’t be in breach of contract. 5. They deduct 2 instalments via debit order and I am told that there’s a 5 day waiting period and 3 days for payment to clear. So max 8 days. 6. It’s been 12 Days no refund, no communication, no apology, nothing.

All of the above is a clear indication that Sanlam in no way cares for it’s customers since it’s placed me in financial jeopardy this month. A company unable of complying with a simple request is unfit to manage any kind of finances. This is a financial institution who’s unable to keep up with the digital age no matter good business practice.

This delay in payment is a sure sign of cash flow problems as multiple people have complained about the delay in payments.