Escalated Formal Complaint: SATM Error, MoMo Voucher Loop and No Resolution After 5+ Days

I am writing to escalate a formal complaint regarding a failed SATM transaction involving Nedbank and a MoMo-issued voucher, which remains unresolved after more than five (5) days, with no meaningful communication or accountability from either party.

The issue began when a Nedbank ATM returned a SATM system error. I was advised that the funds had been returned; however, no money reflected in my account. I was then instructed to provision a voucher via MoMo linked to the same transaction. That voucher could not be cashed out due to a system error and was never redeemed.

Despite the voucher never being used, the funds were not reversed. I am now stuck in a loop where:

Nedbank indicates the money was returned,

MoMo reflects an unredeemed voucher caused by a system failure, and

I, the customer, am left without funds, answers, or resolution.

It has now been more than five days. No one has proactively communicated with me. I am the one constantly following up, while the money remains missing. This situation creates the perception of a systemic failure that resembles a “smart ****ming” loop, where responsibility is passed between a bank and a telecom platform while the customer bears the loss.

If banks and telecom platforms can lose customer funds through system errors without timely correction or communication, it raises serious concerns about consumer protection and trust in these systems.

I am formally requesting:

A joint investigation between Nedbank and MoMo into the failed SATM transaction and voucher provisioning.

Written confirmation that the voucher was never redeemed.

Immediate reversal or reimbur*****t of the missing funds.

A written explanation addressing the contradictory statements that the funds were “returned” while no funds are reflected.

Clear communication on how this matter will be resolved and prevented in future.

Should this matter not be resolved urgently, I will escalate the complaint to the Banking Ombudsman South Africa, ICASA, and any other relevant regulatory bodies, as this prolonged failure and lack of communication are unacceptable.

I expect immediate written feedback and resolution.