Nedbank
Strange Policy

I have had a business account with Nedbank since 1996. I went in to the branch to setup a debit order facility thinking that this would be a simple procedure. After the 3rd visit to my branch I was told that I cannot setup a debit order facility without first seeding an investment to Nedbank in order to cover debit orders that are returned unpaid.

I asked is an unpaid debit order not the same as a cheque that bounces back where Nedbank simply debits my account with the bounced cheque amount.

I also asked why my R100K over draft facility does not cover any returned debit orders.

I just got a blank look from the small business banker.

All I want is a mechanism to draw the monies owed to be on a monthly basis from my clients' banks.