Payment Protection Insurance

When you take out a loan or a credit card with Nedbank, you are forced to take a Payment Protection Insurance against your loan or credit card. They say this to protect payments in case of retrenchment. However when you have to claim against this, you’re given a run around by Nedbank. When I needed to claim for retrenchment, I contacted Nedbank via their Facebook messenger. They responded by saying they will get the info and come back to me. After making a follow up, they gave me a number to call, when I phoned, I was told that it’s not the right place. I went to the branch and was given a form to complete. I did. But the form had no details as to where to submit the form. I returned to the branch and the consultants at the branch no knowledge. After some asking around the consultant sent it through on my behalf. Now after waiting for a number of days, I receive a rejection letter that says Retrenchment claim will not be paid out because my personal loan account was settled in January. (That is correct) However I was claiming against my CREDIT CARD, not a loan account.

If Nedbank made the claiming process easy and educated all its employees none of this would have happened. After waiting for days, I’m still back on square one.