A Nedbank sales person called me to sell the Nedbank Moneytrader product. Good interest rate as well as 24hr access to money. On 18/09/2013 I gave notice on-line, expecting my cash on 19/09/2013 as I had to make an urgent forex transaction. 19/09, handed forex trade papers into branch. They did not proceed with fx trade as Moneytrader transfer did not reflect in my current account yet- even though both accounts were at Nedbank. 20/09 late afternoon got a call from Nedbank, apologising that money went into suspense account and did not clear. FX trade was still not processed. After asking repeatedly on the progress of the trade, multiple visits to the branch with no feedback other than- we are investigating... The Rand had weakened substantially by this time, and when I asked who will make good for this- I was told " no one". I explained the problem repeatedly to the Nedbank team leader, fx department and eventually branch manger. I was asked today 43 days after the Nedbank error and a R12830 to R20000 loss to lodge a formal complaint on their website. For most of the process I was treated with little/no respect, got no/little feedback- and is still out of pocket, 43 days later!
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