Nedbank NNR

Funny that Nedbank does not follow their own rules and people are sent threatening SMS's

8.6 Debt Enforcement and Recovery

Should your account go into default, your bank’s first step will be to try to contact you to discuss the matter. It is therefore imperative that you inform us at all times of any changes to your address and contact details.

Before taking any legal action, your bank will send you a written notice drawing the default to your attention and making you aware of your options to resolve the default, including contacting your bank, approaching an accredited debt mediator or a debt counsellor, or an alternative dispute resolution agent, consumer court or ombud, if you believe that the account or the default is in dispute.

If your bank refers your account for legal action, your bank will advise you in writing of the process and the additional cost implications. Your bank will take reasonable steps to ensure that any agents, including attorneys, acting on their behalf, perform their duties ethically, responsibly and within the cost parameters allowed by law.

Your bank will set standards of conduct for debt collection agencies acting on its behalf, which will be contained in an agreement that we will conclude with the agencies.

Your bank will require that they:

act within the law;
refrain from action prejudicial to its business, integrity, reputation

and goodwill;
observe a strict duty of confidentiality in respect of customer

information and
do not resort to ************ or violence, whether verbal or physical,

harassment or any other improper collection methods in their debt

recovery actions.
Your bank shall remain accountable to you for the conduct of its agents, including debt collection agencies. Your bank will not incur unreasonable costs and expenses in the process of recovering the debt owing and will provide you with a detailed breakdown of the costs and expenses that your bank has incurred upon request.
The Code of Banking Practice
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If your bank cedes or sells your account to a third party we will ensure that these agreed practices form part of the Terms and Conditions of such sale or cession.