Nedbank *****s over Small Business with FICA bungles.

Nedbank for Small Business has completely bungled the FICA process, to such an extent my entire corporate account has been frozen. The FICA process was handled to the satisfaction of the private banker, however the vcnetral department doing FICA seems to have a backlog, and they simply suspended all accounts under review. Even going to the branch on Saturday, did not help, as the staff are not empowered and are powerless to chase or rectify anything, even though I brought a full set of FICA docs with me.

My business is an cloud services business and my hosting partners are paid by credit card. all these payments are now bouncing, putting my entire operation at risk. The worst is I am traveling to Finland, and about to depart and now find out may accommodation booking is now canceled as the cards are coming back declined.

Nedbank has off their own bat, decided unilaterally that I operate a ******** business and have essentially shut me down, without any warning whatsoever and no chance to intervene over a long weekend, and all staff at the small business centre are powerless to escalate or do anything about it.

I will be seriously investigating to move my accounts elsewhere, as clearly Nedbank is not a bank that you can rely on, for your business.

This is not the first time I have had such experiences, especially with the Forex department, where i tis impossible to contact anyone in the process if you need help, after-hours or holidays.

If you are choosing a business bank, I think you can save yourself the hassle , and find a better bank.