Nedbank Nicolway Mess

Dear Nedbank Nicolway,

I have sat on this post for 8 days now in the hope that you would respond to my complaint raised with you via your formal customer care channels. Since you have completely ignored me I have regrettably had to seek a different platform to express my complete disgust in your service.

In summary dealing with your branch has:

1. Cost me R40 000 in hard cash losses. 2. Posed a security risk to one of your other clients accounts whom I have never met. 3. Caused sleepless nights due to hours of international phone calls. 4. Caused frustration and stress exacerbated by your lack of response or acknowledgement of my attempts to contact you.

My experience with Nedbank Nicolway has been the following:

In April of this year, I visited your branch requiring your assistance and was directed to one of your financial consultants to manage my particular enquiry. I explained to the consultant (name intentionally excluded) that I would be taking up a work contract abroad and would require access to my funds when I arrive in the new country once I have a bank account set up. He confidently advised me on my situation and this is where the journey all began.

1. *********** The consultant advised me that it was as simple as logging onto my internet banking profile when I have the new banking details, adding them as a beneficiary and transferring the funds myself. It’s really that simple. So upon arrival in this foreign country, I opened my new bank account and did exactly what I was advised only to find out that the online banking platform does not allow you to add an international beneficiary. Confusion set in so I fetched his business card and proceeded to email due to the time zone difference expecting a response within a day or two.

Following numerous failed attempts, I asked my wife to visit Nedbank in person to process the transaction on my behalf. Note: She was able to do this as I also had the consultant assign her power of attorney whilst at the time.

2. NEGLIGENT AND CLIENT RISK

We all know telephonic support in general can be challenging and typically after hours of frustrating phone calls you end up going into a branch anyway (case and point).

This is why I spent the further 2 hours at Nicolway with my wife, signing all the required documentation to provide her with power of attorney as she would be remaining in South Africa.

When she went to the nearest Nedbank branch however, she was informed that she did not have power of attorney over my account but was in fact erroneously given power of attorney to another Nedbank clients account (a complete stranger to us). Purposefully I will also not mention this persons name either. But I guess we have power of attorney over your account.

DISGUSTING THIS IS EVEN POSSIBLE.

3. *********

To add insult to injury the banking transfer fees that were capped at R750 all of a sudden now became capped at R950.

4. POOR CLIENT SERVICE

Now with the stress of being in a foreign country not knowing how I would access my funds from abroad, no local representative with power of attorney to act on my behalf and zero response from the consultant after numerous attempts I was in a desperate state all because of your complete incompetence and disrespect for your clients.

TODAY:

Weeks later after eventually getting the funds transferred; you Nedbank Nicolway have cost me a considerable amount of money, wasted countless hours, breached another clients account (in my opinion), ignored my requests for help, ignored my complaints lodged through your formal client channels and caused more stress and frustration for me and my family than you care to realized or even acknowledge.

I am disgusted and appalled at this experience and disregard for your clients.

Your former client of 21 years!