1 reviews | Active since Jun 2012
Nedbank wrongly charging deposit fees on investment accounts which had no such feature
If you have never taken time to go through the bank pricing lists released every beginning of the year, you should change that approach coz I've discovered how banks easily reap consumers off without them noticing anything. I have a Nedbank investment account, the type of account which did not have any deposit fee attached for additional deposits into the account. I was shocked when suddenly I was charged R150 rand cash deposit fee on the very same account which had no such feature. After a long discussion with their consultants over the phone, I was told that the 2019 pricing list indicates that I would be charged a deposit fee for certain amounts deposited into this type of investment account. The reason I opted for this specific type of account it was coz there was never any deposit fee applicable for additional deposits into the account but now suddenly I were to pay these fees. What a joke. Why not just opt for a saving account. So Nedbank decided to change their pricing policies on investment accounts and expects customers invest their money in these accounts and get charged instead clearly telling customers to rather make use of usual savings accounts where you know for a fact that cash deposits fees are applicable. I'm investing to gain interest and not to be reaped off by a bank, that's really disingenuous from Nedbank. Unbelievable Nedbank. Can't trust them any longer and will have no choice but going to a different bank which offers better investment options
