Incompetence. Unprofessional

Good Day NEDBANK,

The below information requires the urgent attention of NEDBANKS executives and respective seniors within the NEDBANK ranks.

I sent a request to NEDBANK on the 07/04/2017 requesting a claim in relation to my deceased grandmother’s funds held at NEDBANK. I received a response from the NEDBANK on the same day advising there aren’t any policies for the deceased member held at NEDBANK. I responded to the mail seeking further assistance and was advised on the 10th of April that NEDBANK can’t pick up any accounts for my deceased grandmother. After months of thorough investigation I discovered that my late grandmother actually has funds invested in NEDBANK and I am the beneficiary of the respective funds. I turned to the High Court on the14th of December 2017 for legal advice as well as assistance in obtaining a Letter of executorship /authority. The court issued an order indicating no Letter of executorship or Authority will be issued in a case where the claimant is a beneficiary.

I decided to visit the NEDBANK Jubilee Mall branch in Hammanskraal with the above mentioned letter. The service I received from Hammanskraal was unprofessional and concerning as the consultants did not have knowledge of how to assist in the matter. I only managed to receive a statement which proved there are funds invested in NEDBANK as the court gave an instruction for NEDBANK to assist. I was informed by the consultant that she can’t open the investment and therefore won’t be able to assist with the claim as the funds are in a transactional account. This resulted into a heated argument which led to the consultant requesting the manager to intervene. Upon the arrival of the manager, the consultant was advised as to how to open the investment as she failed to do so in the first place. From there on I suspected that there is something that the NEDBANK staff is attempting to cover up.

I was turned away and my alternative resort was to contact the NEDBANK call center. I spent almost an hour on the phone with NEDBANK consultants with no breakthrough; being transferred from one person to another till this reached one of your respective Team Leader. I explained to the first consultant who referred to the estate department and came back to me with underwhelming answers. The first consultant referred me to the estate agent whom `explained to me the process. I explained my story to the agent and she still insisted on her story without even requesting a policy number/ID Number to see the portfolio in question before advising requirements. When I offered her the details of the portfolio, she checked and picked up the type of policy. She furthermore advised the process, when I disagreed with what she was advising she dropped the phone in my ear which added to the frustration. Bear in mind that in no way I disrespected, used inappropriate or offensive language to any of your people but only stated facts.

I called back right away and requested a senior/manager to assist. I was assisted by a Team Leader/ senior who took the time to investigate the query from the very first interaction with your branch team and advised she will enquire with the estate team and get back to me. Although she kept her promise and called back after a few minutes, she informed me that the proceeds were transferred over to the estate which I do not understand the reason behind that transaction as there is a beneficiary who is entitled to claim those funds. She transferred me to a lady in your estate team whom I also had a disagreement with. The lady also dropped my call. I called back and spoke to Matosi Jankie who could not assist me at after minutes of pleading. I gave all my particulars as well as the deceased particulars and he maintained his statement.

To summarize my disgruntlement, the deceased opened and investment profile with NEDBANK and appointed me as the beneficiary. I want to claim the funds as I have the right to do so but all the NEDBANK employees are refusing to assist as they advise I must obtain a Letter of Authority/ Appointment or Executorships. As per the High Court, this document can only be requested by the surviving spouse and the surviving spouse will be able to make decisions on the deceased assets. In this case I was denied this letter as it is not required due to the fact that the deceased elected a beneficiary. This is explained on the letter which was issued by the High Court on th3 14th of December 2017. As per my interaction with the senior in the estate department she disagreed with the letter. I informed her that this is an instruction from the high court which NEDBANK needs to comply with and she advised the under no circumstance NEDBANK will adhere to the letter. According to my understanding, NEDBANK is overwriting the instruction from the high court. As per the lady in Estate department, she advised I must go back to the high court and advise they will not assist until I get a Letter of Executorship.

It’s common sense that I do not require these documents as I am the appointed beneficiary. This is an investment policy and has nothing to do with the policies governed under acts which require Letter OF Executorships even when there is an appointed beneficiary. There is a reason as to why the deceased appointed a beneficiary as she knew very well the outcome. In under no circumstance the alleged executor is involved in this as this portfolio has nothing to do with him. None of your staff was attentive to what I have been informing them instead they are advising what they think they know. All your staff I have interacted with requires intensive training and knowledge. They do not know what they are doing.

Kindly investigate this matter further as it’s a huge fail and contravention. May the NEDBANK team listening to all my call recordings and view transactions form the branch I visited till the last call made to NEDBANK. I also request that NEDBANK provides with all the reference numbers of calls made to NEDBANK, recordings, names of all agents in the branch as well as consultants and team leaders I dealt with on this horrifying quest as I will be interested in launching an inquiry of my own in the near future with relevant governing bodies, institutions and respective authorities as I feel there are some irregularities and cover ups within the NEDBANK space. I further more request policy documents from inception and any documents relating to this investment to be forwarded to me. Kindly note I neglected my full responsibilities of employment by means of an unplanned leave to resolve this matter and my employer will not compensate me for this day.

Attached is the information which will assist NEDBANK to launch an inquiry into this matter as well as all the evidence.