Nedbankbank charges

C Review updated:

Nedbank bank charges are ridiculous. I checked my internet statement this morning and found that after they had deducted approx. R303 for monthly bank fees at end of August 2010, there was another deduction on 03 September 2010 of R129.99 listed as Service Fee. I called them and was advised that this is an annual card Fee! We pay for every transaction throughout the month i.e. on Deposits you pay, (whether thru an ATM or counter) on withdrawals you pay. On every transaction you pay, airtime you pay. For every transaction you pay a fee and then at month end you have to pay again the following: Monthly Service Fee, ATM/SSD Fee, Facility Fee, Saswitch Fee, Maintenance Fee. . This is robbery as far as I am concerned. They debit your account as they feel fit. I am fed up with this bank and will be looking at alternative banking. WAKE UP NEDBANK - YOU ARE NOT CUSTOMER FRIENDLY!!!


  • I
      Mar 12, 2009

    Have just received an advice from Nedbank informing me of a reduction in interest rates of 1% on a home loan. This was expected as the SA Resrve bank reduced their prime lending rate recently. However, when comparing the monthly administration charge of R39.90, mentioned therein, with the previous advice of 15.12.08, which was only R17.10, I am astounded to note that this is an increase of 233%. And that is after receiving a brochure from the bank recently stating "Great valusebanking, simplified" and "Pricing it right for you". I just wonder how the bank can introduce this rip-off in the present economic climate.

    0 Votes
  • A
      Jun 03, 2016
    Nedbank - Legitimate rip-off
    United States

    Goodday Up to so far my Everyday account has been fine until I used a fine comb to check my statement and realized that there is money R75 to be exact, taken from time to time and when I called, I was told its a 'LEGITIMATE TRANSACTION'. I was told that since I do not have overdraft I am allowed to be overdrawn and then charged a huge amount of R75. I ask why it does not happen like that with the Savings Account and am told its just how it is setup on the system. Its the first time I hear of legal fraud or corruption or ripoff. What men can do men can also undo. Nedbank are deliberately letting this happen to charge R75. If only making money was this easy for all of us. Shame on you Nedbank, shame on you.

    0 Votes

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