Nedbank
Nedbank rips clients off on foreign VISA payments

On 18 July I made a payment in Euros with my South African Nedbank credit card. The official VISA published exchange rate was 13.100628 on that day (source: [URL Removed] I was charged an effective exchange rate of 13.206ZAR/EUR onto which the Nedbank facilitation fee of 2% was added. This resulted in a difference of R800 being charged to my card. I have spoken to a number of Nedbank representatives over the course of two months, none of which have been able to explain to me why this difference exists. Once again, Nedbank's transparency leaves a lot to be desired and the only professional service they offer is on how to send you from pillar to post.

Company: Nedbank
Country: South Africa
City: South Africa

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