Nedbank
Money grab on cheque acc for prescribed debt

A couple of weeks ago logged a dispute with Nedbank in respect of an old Nedbank Credit Card account, which has prescribed in terms of the Prescription Act no 68 of 1969. Now all of a sudden, when my salary was deposited into my Nedbank Cheque account, Nedbank did a money grab of R6000.00 without any notice or consent! The result was that I had no funds available to pay for essential living expenses and therefore requested my child to deposit money to enable me to pay for living expenses and other debt. Guess what happened next? They money grabbed the deposit as well!! I have mandated a third party to assist me with the prescription inquiry and same was sent to Nedbank requesting an investigation and feedback on the dispute. After more than a month and despite various follow-up correspondence, Nedbank failed and/or neglected to provide feedback. Whilst the matter is suppose to be under investigation, Nedbank continues with their money grabs. Nedbank's conduct is illegal, unconstitutional and inhumane. I will consider referring a complaint to the National Credit Regulator and the Ombudsman for Banking Services!

Company: Nedbank
Country: South Africa
City: Head Office

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