After banking with Nedbank for over 25 years i am sadly very disappointed. I was earning a very large salary for many years and as such was offered large lines of credit. Out of the blue i was retrenched and was left with large outstanding balances on my Nedbank overdraft and Credit facilities. At no time did my Private banker indicate to me that i had retrenchment cover on my portfolio, which would have saved me at least some of the debt i owe Nedbank. Now after battling to pay my accounts for over a year i find out that i in fact did have retrenchment cover, but i had to apply for it within 6 months of the actual retrenchment. If i had known that i would have applied for said cover. It is the least Nedbank could do for me after a 25 year relationship and a full suit of banking accounts held with them. It saddens me that Nedbank was very keen to offer me the world when i was doing well, but as soon as times are hard they close the door. Gone are the days where banks build relationships, now its all about the money. If you have it, they will give you more and if you don't have it, they will make sure they take it all away from you.
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