Nedbank trying to cheat us again!

Nearly 17 months after my letter to Nedbank I get the FIRST reply. And then they did not even read it properly!

If they had read it properly, they will know that I dispute Nedbank’s unilateral baseless and ******** claim that I should be responsible for the costs of my bond cancellation. The reasons are in my letter. This is now before the Ombudsman for Banking Services awaiting a formal ruling.

Now Nedbank is trying to cheat us again, by unilaterally and without basis in fact raising our house evaluation by 33%, to increase our insurance payment by 13%!

The consequence that our insurance payment is more than 30% of our total bond repayment!

And by informing the insurer without our knowledge and consent of this absurd evaluation increase, leaving it to ourselves to figure out why we were suddenly confronted with an insurance payment increase 3X the rate of inflation!

And that in this day and age of devaluating properties and Covid-19 hardship!

Stay away from Nedbank, they are BAD NEWS!