Nedbank terrible service

I am writing to formally lodge a complaint regarding the unacceptable service I have received from Nedbank's Contact Centre and Credit Card Department concerning a balance transfer linked to my recently approved credit card application.

On 16 May 2026, I app**** for a Nedbank credit card through the banking app. Upon approval, I was presented with two options:

Accept the Nedbank credit card in addition to my existing credit facilities with other banks. Accept the Nedbank credit card and have Nedbank perform a balance transfer to settle my African Bank credit card account.

The second option offered significant benefits, including an interest rate of Prime minus 1% for nine months on the transferred balance and a three-month payment holiday before repayments would commence. Based on these benefits, I selected the balance transfer option.

During the application process, I entered my African Bank card details, and the outstanding balance automatically populated on the application. Once the application was completed, I received confirmation that an amount of R16,336.00 had been transferred. Furthermore, Nedbank issued me with a settlement notification stating that the funds had been sent to African Bank via EFT and would reflect within five business days, allowing me to settle and close the African Bank account within the required timeframe.

More than two weeks later, the funds have still not reflected at African Bank.

Given that interbank transfers do not ordinarily take this long, I contacted the Nedbank Contact Centre on 23 May 2026 and spoke with Ms Snethemba Nxumalo. She requested that I email her the settlement notification provided by Nedbank and advised that she would escalate the matter and provide feedback on the following Monday.

Unfortunately, Monday came and went without any communication. I subsequently sent follow-up emails requesting updates, yet as of 2 June 2026, I have received no response from Ms Nxumalo. On numerous occasions when I have contacted the Contact Centre, I have been informed by her colleagues that she would return my call, but this has never happened. I find this conduct extremely disrespectful and indicative of a complete lack of concern for resolving my issue.

While awaiting feedback from Ms Nxumalo, I also contacted Ms Zanele Maimane, who had conducted the post-sales follow-up call after my credit card approval on 18 May 2026. During that call, she assured me that she would assist should I encounter any issues.

After emailing her regarding this matter, I received no response for seven days. When she eventually contacted me on 1 June 2026, she advised that she would investigate and provide feedback. However, she subsequently informed me that the funds would only reflect at African Bank after 60 days. This response demonstrated a complete misunderstanding of the issue, as the settlement notification issued by Nedbank clearly states that the funds would reflect within five business days and that I am required to close the African Bank account within 60 days to retain the promotional benefits associated with the balance transfer.

I found this response insulting and concerning, particularly from a Nedbank representative who should understand the documentation issued by the bank. After I clarified the contents of the settlement notice, Ms Maimane ceased responding to my communications.

Having received no assistance from either consultant, I continued contacting the Contact Centre and repeatedly had to explain the matter to different agents. Eventually, on 28 May 2026, I spoke with Mr Thabiso Mthabela, who assured me that he would personally handle the matter with the urgency it deserved.

Mr Mthabela requested that I once again provide the settlement letter issued by Nedbank, as well as proof from African Bank showing that the funds had not been received. This marked the third occasion on which I was required to submit documentation originating from Nedbank itself, which I found both frustrating and unnecessary.

On Friday, Mr Mthabela informed me that Nedbank's records showed the R16,336.00 had been paid out, but the bank could not identify where the funds had gone. Despite this, I was advised that I would still be responsible for payment. When I questioned how I could be held liable for funds that had not been received by African Bank, he placed me on hold and subsequently disconnected the call. Since then, he has also failed to respond to my follow-up emails.

At this point, I have spent 17 days attempting to resolve a matter that should never have become this complicated. Throughout this process:

• I have received little to no meaningful communication. • Multiple consultants have failed to provide promised feedback. • I have repeatedly had to submit the same documentation. • No one has been able to explain where the transferred funds are. • Nedbank has failed to provide proof of payment despite African Bank specifically requesting it. • I continue to incur interest and charges on my African Bank account because the balance transfer has not been completed. • Nedbank is simultaneously charging me interest on an amount that appears to have disappeared.

I am extremely disappointed by the level of service I have received. The lack of communication, accountability, and urgency displayed throughout this matter falls far below what I would expect from a major financial institution. I have been ignored, passed between consultants, and left to carry the financial consequences of an issue that appears to have originated within Nedbank's own processes.