NM
Neo M

1 reviews | Active since Nov 2013

24 Mar 2022, 10:50

International payments to Nedbank can block your account with no notice or reason given

After I received an international payment, Nedbank blocked my account with no notice or reason given. I've spent the past week visiting my branch and calling the call centre multiple times and being passed around different parts of Nedbank with no one able to tell me what's going on. The first time I went to the branch they even claimed they had fixed everything but the ATM then ate my card and my Internet banking profile was blocked. The other times I was told there is an unspecified issue that someone else knows who would call me but of course never did.

This morning, I finally get through to an investigator who was apparently only assigned to this issue yesterday (more than a week after they just blocked all access to my money). It seems they are now doing a SWIFT query to the sending bank but only started that yesterday (again, more than a week after blocking my account) and goodness knows how long that will take.

I guess the lesson here is to only receive money internationally using Nedbank if you don't care to have access to your accounts for weeks afterward and want to get really fami**** with their org chart.

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