Don't expect fair treatment from Nedbank!

In order to arrive at the truth in any dispute between two parties, it is accepted that both parties need to be interviewed to give their versions of the matter and this is preferably done in an eye-to-eye meeting convened by an unbiased person. This does not assure that the truth will be arrived at, but at least both parties have been given equal opportunity to state their case and both statements are now on record.

This is not how Nedbank investigates disputes between its clients and the bank, or at least that is not the way in which they handled my dispute with them.

I needed financial advice about how to transfer money from my Nedbank account to my Standard Bank off s**** account in the UK. I trustingly followed the advice given to me by the teller I spoke to and permanently lost R50 000,00 to a local Standard Bank account. Her advice was clearly incorrect.

When it came to my attention that the money never reached the UK, I approached the branch for an explanation. When they denied any responsibility, I asked to speak to the branch manager but was told that he was not available. The next time my husband went to the bank and he was also told that the manager was not available. When he said that he would wait until the manager became available, he was told that the manager was not in the bank.

I have lost my money due to incorrect/bad advice given to me by the teller and I could not get an interview with the bank manager. Is this usual? To date I have not seen ANY bank official to be able to give my version of what transpired on that fateful day at the end of January this year.

I must presume that the bank's denial of responsibility is based on what they were told by the teller. The bank's Dispute Resolution department claims that when they interviewed the teller, she denied any knowledge of the fact that the money was going offs****. I do not accept this denial as I have the offs**** bank statement I showed her for her to get the details for the transfer.

If the bank is to be believed, the teller interviewed and her statement taken why was I not offered that courtesy? The bank's denial of responsibility based on the interview of one of the disputing parties only, who appears to have been somewhat economical with the truth. When did the bank ever attempt to arrive at the true facts by interviewing both parties? How do they explain this blatant injustice as fair practice?

The bank now says that because the Banking Ombudsman and an independent arbitrator subsequently appointed by him, cannot reach a decision one way or the other, they are off the hook. Short of me taking the case to Open Court, which I cannot afford to do. In my opinion this matter could and should have been resolved in-house before going to the Ombudsman.

Do you think the bank has treated me, a pensioner, fairly? Or do you think they have acted only in their own interest? I cannot come to terms with the fact that the bank has lost my money and they do not care a hoot!

I sincerely hope that other Nedbank clients receive fairer treatment than I have experienced.