Complaint Regarding Nedbank’s Lack of Assistance and Poor Customer Service

On 13 August 2024, I reached out to Nedbank for financial assistance given my current situation. I submitted all the required documents, including an income and expenditure report. Despite being informed that the process could take up to 21 days, I waited patiently. During this time, I consistently attempted to follow up, but received little to no assistance.

When my attempts failed, I escalated the matter to the Ombudsman, which finally prompted a response from Nedbank’s Client Services Manager on 30 September 2024. However, it is now 4 November 2024, and despite the back-and-forth communication, there is still no resolution in sight. All I asked for was a payment holiday or a restructuring of my debt, yet I was told that Nedbank does not offer these options, despite the bank actively advertising them online.

I also spoke with the Credit Risk Early Collections Manager, whose lack of empathy and dismissive attitude was appalling. Rather than address my request, she insisted I agree to terms that were completely against what I had initially proposed. To make matters worse, my banker demanded that I provide proof of income for a deficit I disclosed in my income and expenditure report. This demand is both unreasonable and nonsensical. If I had additional income, I wouldn’t be requesting assistance.

I currently have four accounts with Nedbank, including a vehicle loan, and have maintained my commitments without fail. I missed just one car payment due to unforeseen circumstances, but immediately contacted Nedbank to arrange payment, which I honoured as agreed. Nonetheless, I received three demand letters despite upholding the arrangement. Furthermore, Nedbank sent me a notice threatening account closure over an overdraft balance of merely R134.00.

This experience has revealed Nedbank’s true priorities. They are clearly not interested in supporting clients in need—they only care about recovering funds. If Nedbank had been willing to assist with a restructuring, I could have consolidated my debt, reducing my monthly repayment burden by over 60%. This would not only have eased my financial situation but also improved my affordability status, yet I was informed that affordability is an issue for the very solution that would lessen my repayment load.

I no longer see the value of remaining a “private client” with Nedbank. I would rather work with a bank that genuinely supports its clients in times of need, instead of one that penalises them for seeking help before they face a crisis.