Nedbank Private Bank ostensibly contravening FICA

I am one of multiple trustees on an insolvent TRUST with a Cheque account that Nedbank are refusing to close claiming the account needs to be FICA'd in order to close it. Nedbank "froze" the account over 12 months ago and I then requested the account be closed. Instead Nedbank continued deducting "service fees" until overdrawn whilst refusing to close the account because claiming it was not FICA'd.

I have lodged a contravention of FICA and banking laws with the SARB. Nedbank are aware I no longer have access to some of the trustees and the account FICA was never questioned when it was opened and throughout the 12+ years it was in good standing. I now careless what Nedbank does with the TRUST’s frozen cheque account, sue the TRUST for your “service fees”. What service?

What I will do is fight this with the South African Reserve Bank and push for Nedbank to receive the maximum R150 000 000 fine and sanction for contravening the FICA legislation. Further to this, if in fact the account was not FICA'd as Nedbank claim, I will insist that all monies I personally deposited in the account be refunded so I can fight this "David and Goliath" legal battle on the principal that potential commercial crime is being committed by Nedbank against many trusting clients.

Avoid Nedbank Private Bank.