NEDBANK FIXED DEPOSITS

I took up a 12 months fixed deposit with Nedbank at their Branch in Westville on the 10.08.2019. This took 1 hour and 48 minutes to do from the time I entered until I left the Branch. On maturity, Monday the 11.08.2019, the call center told me that I must wait 24-48 hours to release the interest portion of the deposit first. Then I must phone them to request depositing the interest in my account. Once the interest are in my account, I must phone them again to instruct to release the Capital amount, wait another 24-48 hours and phone them to instruct to deposit the capital in my account. As not even the first step materialized by Thursday, I spoke to the Manager of the call center who promised the whole amount, interest and capital would be in my account on Saturday. Came Saturday, only one amount was deposited in my account, and one digit short....R 30,749.05 instead of R 307,490.50 Now I must wait until Monday for the correct and full amount to be refunded. So if you invest in a fixed deposit with Nedbank, expect to spend at least one hour at the Branch and expect to have to phone many times for your money on maturity to be released and be patient as it will take you one full week. I hope though that the correct amount will be in your account. My reference number with Nedbank is 3786 76 24.