Need to know more? Take a look at our frequently asked questions.
Select one of our frequently asked questions below to read more on the subject.
Our personal loans work as follows:
Interest Rate - Each customer's situation is unique. The interest charged on your loan will be calculated based on your personal credit profile.
Monthly Service Fee - A standard monthly service fee is applied to all loan accounts and is charged on a monthly basis.
Credit Life Premium - A credit life premium is charged monthly and the premium is based on the rand value of your loan at the time of application
If you apply online and have all required documents and you qualify, we will pay out the loan and notify you via SMS within 24 hours of your loan application being approved.
Credit life is an insurance policy that provides cover in respect of your loan in events such as death, disability or retrenchment.
Old Mutual Finance is entitled to require you to take out credit life insurance to ensure the loan is repaid if you die, become disabled or are retrenched. Old Mutual Finance has arranged a policy through OMART, which is an Old Mutual insurance company.
You can either take this policy or provide your own policy when you apply. Not any policy will be accepted by Old Mutual Finance. It must be a policy that provides at least the same protection to you and Old Mutual Finance. Therefore it must cover at least the outstanding balance in the case of death, or permanent disability, if you are temporarily disabled it must cover the instalments for 24 months and if you are retrenched, it must cover the instalments for at least 12 months. It must also not have unreasonable exclusions or waiting periods.
If you know that you will be retrenched when you take out the loan and the cover, the policy will not pay out. If you injure yourself on purpose or commit suicide, the policy will also not pay out. If the disability or death is as a result of existing medical conditions not disclosed, exclusions will apply.
The credit life policy summary is available for you to read and you will get a copy. The cost of the credit life cover will be shown to you when we provide you with the loan offer.
If you have any further questions regarding the credit life policy or you would like to use your own policy, we need to refer you to a specialist to assist you, before we can finalise the loan. Please call them directly on 0860 000 886.
We look at your previous credit record when assessing your loan application; if you don't have previous debt we may not be able to proceed, but we will consider your personal circumstances and let you know what the outcome of your application is. You may only qualify for a small loan until you have built up a good track record.
You need to provide us with a sworn affidavit from a South African police station indicating your current residential address.
We are able to offer you an affordable, yet innovative solution Download the Money Account Fee Structure.
Yes, if you are an existing Money Account holder, the biological parent or legal guardian of the child and the child is between the ages of 7 - 17 years.
You can open an account for a minor at your nearest Old Mutual branch and will need to bring along the following:
1) Parents original ID
2) Minors Original Birth Certificate (Unabridged/Abridged - surname should match parents surname)
3) Parent's FICA document
4) Your cellphone
5) Cellphone number for the minor
1) Guardian original ID
2) Minors original Birth Certificate
3) Guardian FICA document
4) Proof of guardianship court order/certificate of adoption
5) Your cellphone
5) Cellphone number for the minor
We offer you unlimited free swipes because we want to encourage all our customers to consider the more affordable safer, cash free lifestyle. But we do understand that at times, you will need some cash.
Your daily transactional limits are:
We encourage you to swipe because you have access to unlimited swipes with zero transactional fees. But we do understand that there are times when you need to get cash so, we made it easy for you.
1. Cash deposits
Cash deposits can be made at any till point of a Pick 'n Pay or a Boxer store.
The cashier should give you a receipt/slip as proof of the transaction
2. Electronic fund transfer (EFT)
You can do an EFT into your Money account by using your Money Account banking details.
3. Switch Your Salary and Debit Orders
Step 2: Switch your Salary
To make sure that your employer or HR team has the correct details of your new Money account, simply fill out the MoneyAccount Mandate Form and email it back to us.
Step 3: Switch your debit orders
Let us take the hassle out of switching your debit orders. Just download the Debit Order Switching form and Annexure 1 form , complete these and return them with a copy of your ID to your closest branch. Alternatively, you can email your documents to MASwitching@omfinance.co.za.
Old Mutual Money Account is a transactional product which is offered by Old Mutual in association with Bidvest Bank Limited.
You can reset your cell phone banking Pin, in the branch or through the Old Mutual Money Account service center on 0860 222 252. A one-time PIN will be sent to you via SMS. You will then be required to enter this one-time PIN and set your new PIN.
Contact the Old Mutual Money Account Service Centre on 0860 222 252 to reset your Internet Banking password. Make sure that you have your cellphone with you. You will be required to validate the instruction to have your password reset. A one-time password will be sent to you via SMS. You will then be required to enter this one-time password and set your new password. The internet banking password can be reset with the mobile app.
No, you can only transfer money to your SAVE account from your SWIPE account. This transaction is free so start saving today.
Yes Money Account Card is a VISA card and can be used internationally. The service centre should be informed of your travels and which countries you will be visiting. Our service centre number is 0860 222 252
To reset your card pin you can contact our service center on 0860 222 252.