Charging Excessive Penalty Fees
<p>My name is Jason Fleetwood.</p> <p> </p> <p>I've banked with Nedbank ever since I can remember. Every month for the last 12 or so years I've diligently opened a new investment account. Being a loyal investor has really paid off and I've always trusted Nedbank to keep my money safe and offer me a fair return.</p> <p>Recently, I found a 3-bedroom property and approached Nedbank with the offer to purchase. I currently live in a thatch-roof bachelor cottage with my girlfriend and our 3-year-old daughter. So for me, this is an urgent, life-changing decision. </p> <p> </p> <p>Honestly, the service from the Fourways branch has been EXCELLENT. </p> <p>My issue is with Nedbank's choice to charge me excessive penalties.</p> <p>The problem is, that at no point in time was I given an amount or even an estimated cost on said penalities. Instead, I was assured they would be 'reasonable' and passing up an opportunity liking owning a property over a few penalties seemed silly.</p> <p> </p> <p>To my surprise, when I release a few investments the total penalties came to R13 094.22. I mean, how excessive is that? I don't know what feels worse, the high penalty fee, the fact that another high penalty fee is on the way (as I release additional funds to purchase the house), or the fact that this is how Nedbank repays me for being a loyal investor for over a decade. I mean how is thirteen thousand rand in any way REASONABLE? And what's the next penalty fee? R13 000 again, R16 000, R25 000?</p> <p>Why am I being penalised to death? </p> <p> </p> <p>I am deeply hurt. If someone could please look into my case.</p> <p>I mean penalty fees are a part of life, but R13 094 already charged with another ludacris amount expected next? How is this "making things happen"? Right now, I need every rand I can get.</p> <p>If I am unable to negotaite with the property agent there is a very real chance I will lose the house.</p> <p>Is this really fair? All things considered?</p> <p> </p> <p>Please Nedbank, please. Help me out.</p> <p>This is really not what I've come to expect from the Nedbank I know and love.</p>
Dear Jason
Thank you for raising your concerns with us. We at Nedbank strive to make great banking happen for our clients and we will ensure that our best attempts are utilized in order to resolve your complaint as timeously as possible. However in order for us to be able to achieve our objective the following information is required:
Your identity number
Your account number
Alternatively you may email the required information to email: ***
Kind regards
Client Experience Team
Dear Jason
Thank you for raising your concerns with us. We at Nedbank strive to make great banking happen for our clients and we will ensure that our best attempts are utilized in order to resolve your complaint as timeously as possible. However in order for us to be able to achieve our objective the following information is required:
Your identity number
Your account number
Alternatively you may email the required information to email: ***
Kind regards
Client Experience Team
My ID number is 870 ********** 089 and my account number is **********
My ID number is 870 ********** 089 and my account number is **********
I am thankful that Nedbank took the time to consider my situation and for implementing appropriate measures to address my concern. I have since been reimbursed 50% of the penalties. The best part, besides resolving the matter with a partial refund, is that I can continue to bank with, invest in, and trust Nedbank. Thank you team, and most of all thank you Nicolas G, for listening, getting my concerns dealt with accordingly, and for "making things happen". ^_^
I am thankful that Nedbank took the time to consider my situation and for implementing appropriate measures to address my concern. I have since been reimbursed 50% of the penalties. The best part, besides resolving the matter with a partial refund, is that I can continue to bank with, invest in, and trust Nedbank. Thank you team, and most of all thank you Nicolas G, for listening, getting my concerns dealt with accordingly, and for "making things happen". ^_^
Thank you for your positive feedback. We look forward to a long-lasting relationship.
Kind regards
Client Experience Team.
Thank you for your positive feedback. We look forward to a long-lasting relationship.
Kind regards
Client Experience Team.