I have an account with Nedbank, from which I pay my Liberty Life policy instalments on a monthly basis via EFT. On two occasions my policy payment was debited to my account on the 16th of the month by Liberty, resulting in a double payment. I have never had a debit order arrangement with Liberty Life, my account was not in arrears and the payment was not authorised by me. I went to my local branch within 24 hours of the amount being debited to my account to query the transaction and have it reversed. Nedbank was unable to reverse the transaction and return my money to me. They claimed that as there was no debit order authorisation from me, they had nothing to reverse??? The payment reflected as a cash payment. Liberty Life have also been unable to help me, as there is no reference number on the bank statement. The staff at Nedbank shrugged their shoulders and said there was nothing they could do. I struggle to understand how a bank can override my right to manage my own money.
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