Extremely Disappointed with Nedbank's ***** Response

On Friday, 28 March 2025, at 06:36 AM, I was shocked to discover multiple unauthorized transactions of R365.90 each on my MiGoal Plus Account, processed at 02:28 AM—while I was asleep. The *****ulent transactions were linked to "OpenAI and Curson," which I do not know of.

I immediately contacted Nedbank, and while my American Express card was blocked, I am deeply disappointed in how this situation has been handled. The SMS alert I received was labeled "Nedbank Warning," yet no proactive measures were taken to stop the transactions or confirm whether I authorized them. To make matters worse, the transactions continued to process with a future date of 29 March 2025, raising serious concerns about the bank’s ***** detection and prevention systems.

The initial consultant who assisted me could see that I rarely use my American Express card. I was transferred to the ***** Department, where I was informed that I would only be refunded in 7 to 21 days, pending an investigation. This is completely unacceptable, especially as I have month-end financial commitments. I was also given an escalation email, but to date, no action has been taken.

Repeated attempts to follow up have been frustrating—I have spent over 30 minutes on hold each time with no resolution. Compared to my experience with Standard Bank, where every online transaction requires SMS confirmation and the bank’s system is more efficient, Nedbank’s response has been disappointingly slow and inadequate.

This entire experience has left me questioning my trust in Nedbank. A financial institution should prioritize protecting its customers, and this incident has proven that Nedbank falls short. I demand an urgent resolution and immediate reimbur*****t of the ****** funds.