BANK CHEQUE BOUNCED

I've been a client of Nedbank for more than 25 years. Recently I made a substantial purchase and was wanting to pay for it by EFT, this could not be done for the full amount because it was a Saturday, I was advised to pay the balance by a bank cheque, which I did. This bank cheque was bounced by Nedbank itself, (Yes, go figure.) As I wasn't available to attend to this catastrophe the salesman (who assisted me with my purchase and accepted the cheque) also assisted me by liaising with Nedbank to get his money. Pressure was being put on him (quite rightly) by his bosses, as he had vouched for my integrity (and delivery of my purchase was made before the monies were cleared). Needless to say that he was given the runaround.

It took 18 DAYS for Nedbank to eventually pay.

I called Nedbank's customer service (3 calls) for an explanation as to what went wrong and for Nedbank to compensate the dealer and the salesman for their losses and inconvenience, despite being promised a call back I hadn't received one. I then contacted Nedbank's complaints department (much more professional and proactive). I was informed an unauthorised signatory signed the cheque and that's why it was bounced (where is their internal checks and balances). An internal matter then becomes the problem for the client, I was informed that an apology letter from the branch manager was forthcoming, a week later I hadn't received it, I informed the complaints manager not to bother with that letter. The same complaints manager informed me that Nedbank only pays for actual (quantifiable) cost that was incurred (no goodwill gesture for any inconveniences) by the dealer and the salesman and a claim must be submitted to Nedbank for consideration. As the dealer and the salesman are busy people they don't have the time to make a claim (and provide proof) as this requires more time away from their core business. A simple calculation of the loss of interest @ overdraft rates (as most business use overdraft) and the cost of a R/D cheque this comes to over R2000, this is what Nedbank is trying to save.

I am considering my relations with Nedbank

Please be aware bank cheque can be bounced.