FORMAL COMPLAINT & FINAL DEMAND | ********** MWEB Card Transaction | Failure to Refund and Incorrect Closure of ***** Investigation

To: *** Cc: ***

Dear Nedbank ***** Investigations Department and Client Complaints Management,

I hereby wish to lodge a formal complaint and final demand regarding the unacceptable handling of a ********** card transaction on my Nedbank account.

I have been a loyal Nedbank client since 2007, representing almost 20 years of banking history with your institution. I am extremely disappointed by the manner in which this matter has been investigated, communicated and ultimately handled.

BACKGROUND OF THE COMPLAINT

On or around 9 May 2026, I identified an unauthorised transaction on my Nedbank card, reflected as an MWEB POS Purchase.

I immediately contacted Nedbank's ***** Department to report the transaction. My card was blocked without delay, and a replacement card was ordered.

Since reporting this incident, I have made several enquiries regarding the progress and outcome of the ***** investigation. I have also approached my personal banker at Nedbank Menlyn, who was unable to provide clarity regarding the matter.

Today, 12 October 2026, I contacted the ***** Department again, only to be informed that the investigator had closed the case on the grounds that the disputed funds had supposedly been refunded to my account.

THIS INFORMATION IS INCORRECT.

To date, I have not received the refund in question, nor have I been provided with documentary evidence substantiating Nedbank's assertion that the funds were returned.

I find it deeply concerning that a ***** investigation could be closed on the basis of an alleged refund without the bank being able to demonstrate that the funds were actually credited to the affected account.

FORMAL DEMANDS

I now formally request the following:

1. The immediate reopening and independent review of the ***** investigation. 2. Written confirmation of the original ***** case reference number, investigation findings and reasons for closure. 3. Documentary evidence of the alleged refund, including the transaction date, amount, receiving account and traceable transaction reference. 4. An explanation of why the case was closed despite my continued assertion that no refund had been received. 5. Immediate reimbur*****t of the disputed amount should Nedbank be unable to substantiate the alleged refund or establish a valid basis for declining my claim. 6. A formal written response from a senior representative of Nedbank's ***** Investigations or Complaints Management Department.

FINAL FIVE-BUSINESS-DAY NOTICE

Given that this matter has remained unresolved for approximately five months, I am no longer prepared to accept further unexplained delays, contradictory information or assurances unsupported by documentary evidence.

I hereby afford Nedbank five (5) business days from receipt of this correspondence to provide a substantive written response and satisfactory resolution.

Should Nedbank fail to address this matter satisfactorily within the stipulated period, I intend to escalate my complaint to the National Financial Ombud Scheme South Africa (NFO) without further notice.

Furthermore, I expressly reserve all my rights to pursue any additional remedies available to me under South African law, including obtaining independent legal representation and seeking recovery of any reasonable legal costs and other losses where legally permissible.

Nothing in this correspondence constitutes a waiver of any of my rights.

CONCLUSION

After almost two decades as a Nedbank client, I expect significantly higher standards of accountability, professionalism, transparency and client service.

I consider the handling of this matter unacceptable, particularly the reported closure of a ***** investigation on the basis of a refund that I maintain was never received.

I trust that Nedbank will now treat this complaint with the seriousness and urgency it warrants.

I await your written response.

Kind regards,

Barend Jacobus Wolmarans Nedbank Client Since 2007