1 reviews | Active since May 2019
Nedbank Small Business Sucks!!!
So much for Small Business development but have no clue what they go through as startups. Our president uses each and every platform and opportunity to promote and encourage Small Businesses yet nothing changes for them. I brought my account ( ********** ) up to date in order to prevent from being closed. Paid the money in at an ATM on a Sunday afternoon. The next morning i get a call from the bank to say that the account is not up to date. Then while on the phone they located the payment. Two days later my banker calls to inform me that the account is overdue by just over R2.00. I think the phone call was more than R2.00, anyway, I paid in another R30.00. Guess what happened next, they close the account. STERLING WORK NEDBANK. Government don't take the small business by the hand in any way. You make arrangements with your business banker only to get a call the next day from a call centre to override the decision from your banker and ultimately change your arrangement. I hate it when big financial institutions operate as if they use two separate systems. Yet it is required to have a bank account when registering on the Central Supplier Database for the City of Cape Town. Nedbank St. Georges Mall sucks!!!! The City of Cape Town, the banking sector as a whole don't give small business the necessary support. Heres two possible solutions. Option one, I think the banks should look at creating an inactive account with zero fees until its first transaction and perhaps keep the account as a transactional account in terms of fees and upgrade to a full fee paying account after its third successful transaction. Option two, that the banks should take this up with the provinces to issue bank accounts only once tenders are awarded and sort of guarantee that an account will be active in 24 hours. This way the unnecessary financial stress for small business will be reduced in terms of banking fees for inactive accounts. It is 2019, the banks must stop operating like trees and become more accommodating and play an active role in small business development as they claim. The time that you spent to close accounts, put it to good use and develop a banking app for business. Just know that you not the only bank and when we as small businesses make it big you might not be the bank of choice.
