NEDBANK NOT MEETING THEIR PROMISES

I app**** for the SAFT Fund through Nedbank on the internet. They read our application today - 13 may 2020 - at 8.51am and rejected our application at 9.24am. I cannot believe that in 30 minutes Nedbank could review the application form properly and make an informed decision to decline our application. On phoning to investigate the matter, I was informed that having looked at my account for the past 6 months they have seen a lot of reversals and that the account has been badly managed. As our main clients are importers from China, our business was affected adversely from January 2020 as our clients were not visiting China and stock from China was not being delivered which resulted in no recruitment being done. If they had taken a few minutes to check our turnover they would have seen that my monthly turnover had declined substantially by in excess of 75% from a direct result of Covid-19. The SAFT Fund was put in place to assist businesses that are unable to pay their staff during the lockdown and as I am a small business with only 4 staff, it would have been a minimalist amount. I have had this bank account for over 10 years. As a result I cannot pay my staff and the business will close down. So much for helping your loyal clients during this difficult time Nedbank !!