Nedbank: the bank that *****s money from children

My 12yo daughter found out yesterday her 'assets' (ie. her birthday money) had been frozen because she doesn't have regular income coming into the account. Nedbank: "Go out and get a salaried job if you want your money back." She's twelve!!

Then she wanted to close her account and get her money back. All R790 of it. Maybe not a lot to you, but means the whole world to a 12yo who just wants to use her money to buy a Katy Perry CD!

The teller(s) refused to listen when we asked to close the account. Instead, they insisted on unblocking her account and giving her a new card - at a fee, of course.

In the real world, if I take something of yours and threaten only to give it back if you pay me, that's ******ion. But the bank does it to a 12yo and it's "terms & conditions".

My child was in tears. Actually crying inside the (now closed) bank. Did one single employee of the 8 finally clustered around us offer a "sorry"? You've got to be kidding! The best they did was waive the new card fee.

Crying, she said to me "but it's my money. Why can't I have it?" I had no answer for her. Because the only answer I could give her is that old cliche 'possession is 9/10 of the law. If they have your money, you're at their mercy for them to let you have it back'.

We walked out of that bank at 12:45, nearly an hour after arriving (took about 20 minutes to initially get service, another 35 to unblock her account and give her a new card) and this 12yo turned to me and said "it's better to keep your money in a money box than have a bank account."

That's a great life lesson you've taught a child today, Nedbank!

She was so traumatised, and was still crying about it when she went to bed last night. She still wants her money back.

Hope you are all super proud of yourselves, Nedbank. This was effectively child abuse.