Your money is not yours at Nedbank

<p>Nedbank recons that the money in your account, and I quote verbatim: “is not yours and you must check with the branch every time you want to transact if the funds are available”. So why do you have internet banking? Is it just because all your competitors have it but you do not really know how it works?? Why does the Internet banking statement show “AVAILABLE balance”? All your competitors show two balances i.e. funds not cleared and available balance. Do you know that these functions are actually available or do you expect clients to smell that they have to go to the branch like 200 years ago to check if funds are available??? Never do they warn clients upfront that they actually have to go to the branch to check balances EVERY time they want to transact. What bull-dust!! When ********** transactions on one’s account take place, then they are very quick to shed all responsibility and tell clients: you have to go the branch and check balances! Beyond absurdity!! Be warned all current clients of Nedbank – the money in your bank account is not yours according to the bright sparks who work at Nedbank. If you are considering opening an account at Nedbank: RUN AWAY, and run FAST. Secondly, the bright spark in legal department tells me that there is no way that they can tell if a cheque is **********. May I respectfully remind you Nedbank, YOU are a BANK, working with cheques daily. If you have not realised this yet I suggest that you wake up and smell the roses. Nedbank takes NO responsibility. Their lack of competence (not recognising ********** cheques and expecting their clients to do so) and total lack of accountability (claiming that clients are negligent for transacting on their accounts without checking with the branch if funds are available – despite that their internet banking statement states that funds are available) and absurdity of responses from Nedbank’s complaints and legal departments are laughable – even more than a comedy. Luckily I have found another bank who is all too keen to have my business and do not exploit and insult their clients. I have HAPPILY left Nedbank after 25 years and want to warn the public to be VERY careful when dealing with Nedbank. They are *************, lack accountability and fall short of any integrity. The only thing they make happen is: for clients to RUN AS FAST AS POSSIBLE.</p>