Public Holiday and late Allocation

<p>For the past 10 years my home loan was with Nedbank every 6 month or so I would get a call stating that my account is in arrears with a few thousand rand. They will always give you some excuse about a payment skipped or 2 installments in one month. Just to keep them of my back I will increase the installment and so on. For the past 2 years I have been paying R1000 plus per month on my installment. Thinking that I have a good account with Nedbank home loans department. A few weeks back I enquired via on-line application for a further loan on the Nedbank site. Twice my application crashed. Eventually I phone them to find out what’s going on only to find out my account is in arrears again. How and why, I was told that my EFT takes 24 hours to reach Nedbank…..Okay with that…As I normally pay my account on the 26 or 27the of each month. Then I was told by Prenisha Govender – Resolutions Manager that is takes another 24 – 48 hours for someone at Nedbank to allocate the money to my bond account number. So by now 4 days have pasted. Then she gave me the best part. Should there be a Public Holiday another 24 hours is added to the time per public holiday. So your money only het to your bond allocated about a week after the payment was made by your as the customer. To my surprise I was charged R1865.83 interest on a R5950 monthly installment because someone as Nedbank only allocated my instalment only on the 2nd of May after which it was played on the 26th of April. 2 Days of interest R1865.83 So that means I have only paid close to R4000 on my bond and nearly half of the installment went as penalty for late allocation on their part and public holiday. I was also told that is the way it always was in the past. So for not signing a debt order (R85.00) Standard Bank for a Nedbank transfer I get penalized. EFT – R2.50. No one at Nedbank seems to care about the fact that Nedbank is *****ing my money and thousands of other Nedbank customers in similar was. After I requested a copy of the telephone conversation I was told only for internal use. Still waiting for feedback from anyone at the back.</p>