OLD MUTUAL* Charge (What It Is + Is It Legit?)
✓ LegitimateThe "OLD MUTUAL*" charge is from Old Mutual. Old Mutual South Africa life insurance, retirement, or investment premium.
Old Mutual
Old Mutual South Africa life insurance, retirement, or investment premium.
Category
Insurance
Avg. Charge
Variable
Country
ZA
Billing Cycle
Monthly
Cancel At
oldmutual.co.za/login
Support
+27-860-50-60-70
Why does this charge appear?
When Old Mutual processes premium payments for its South African life insurance, retirement annuity, and investment products, the billing system truncates the company name and appends an asterisk to create the shortened descriptor "OLD MUTUAL*" on your statement. This format is commonly used by large financial services providers in South Africa to accommodate the character limits imposed by card payment networks and banking systems, which often cannot display full company names. If you hold an Old Mutual policy or investment account and notice this charge appearing monthly, it is almost certainly a legitimate deduction of your scheduled premium or contribution.
What should you do?
Identify your Old Mutual policy
Log in to your Old Mutual account at oldmutual.com to check which active policy, whether life insurance, retirement plan, or investment, corresponds to the OLD MUTUAL* charge on your statement.
Match the charge amount
Compare the exact amount of the OLD MUTUAL* charge against the premium or contribution amount listed in your Old Mutual policy documents or welcome letter to confirm it matches what you agreed to pay.
Contact Old Mutual directly
If the OLD MUTUAL* amount looks unfamiliar or has changed, reach out to Old Mutual's customer service through oldmutual.com to request a full breakdown of the charge and confirm it was applied to your correct policy.
Manage or cancel your policy
If you no longer want the Old Mutual product associated with the OLD MUTUAL* charge, log in at oldmutual.co.za/login to review your policy options, make changes, or initiate a cancellation request directly through your account.
Is this charge fraudulent?
No, this is a legitimate charge from Old Mutual. However, if you did not authorize this charge or cancelled your subscription, you may be eligible for a refund.
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