17 YEARS WITH NEDBANK -FUNDS LOST TO ***** THROUGH A NEDBANK BUSINESS ACCOUNT AND THIS IS THE RESPONSE

After approximately 17 years as a Nedbank client, I am absolutely appalled by how my ***** matter has ended.

On 11 June 2026, my wife and I paid for baby furniture from a business trading as Woodland Furnishings. The payment was made by EFT into an account held with Nedbank in the name of Woodland Furnishings.

The furniture was never delivered. We received no refund.

We reported the matter to Nedbank, provided proof of payment, invoices, emails, WhatsApps, call records and sworn statements, and subsequently opened a ******** ***** case at Bellville SAPS.

Nedbank registered its own investigation.

What makes this particularly concerning is what Nedbank subsequently told me about its OWN investigation.

According to the written response I received from Nedbank Group Financial Crime, Forensics and Security, Nedbank and the Relationship Manager identified discrepancies concerning the business account, including that it was opened at a Gauteng branch while information regarding the business indicated that it operated outside Gauteng.

Nedbank told me that it subsequently suspended the profile in the hope that the directors would visit a branch.

According to Nedbank, they never did.

And after all of that, this is the outcome communicated to me:

“Unfortunately, your funds have been utilized and we have taken all necessary action against the account implicated.”

In other words, I have lost my money and am expected to accept that the money is gone.

I don't.

I want my money back.

I am not suggesting that a bank automatically becomes responsible whenever one of its clients is de*****ed. My concern is what NEDBANK'S OWN INVESTIGATION has now revealed about the beneficiary account.

If Nedbank itself identified discrepancies significant enough to suspend the profile and the directors subsequently never presented themselves at a branch, I believe I am entitled to ask serious questions about how that account was opened, verified and permitted to operate in the first place.

My experience today made matters worse.

I spent time on hold and spoke to two different Nedbank representatives. I experienced virtually no empathy for the fact that I am a victim of ***** who has lost money.

When, out of frustration, I asked about cancelling my accounts and investments after approximately 17 years with Nedbank, I was effectively told that this would be “no problem”.

Is this genuinely what 17 years of loyalty means to Nedbank?

I have now formally escalated this matter through Nedbank's complaints and appeals process and have referred the matter to the National Financial Ombud and Financial Sector Conduct Authority.

I am asking Nedbank to do three very simple things:

Escalate this matter to senior management. Properly account for the concerning findings of its own investigation. Reimburse me.

I have supp**** the evidence. I have cooperated with the investigation. I have opened the SAPS case. I have followed Nedbank's processes.

I am not going away.

Nedbank, make this right.