I am co-Trustee of the CC GREATOREX WILL TRUST, in which my husband had stated that I have the last say when it comes to investment of cash. In December 2012 (two months ago) Nedbank offered me 5.75% interest on an investment for one year on fixed deposit with interest paid monthly. As the Standard Bank, who are co-Trustees, wanted to keep the money in their bank, they refused to sign off on this good investment where the capital would have been safe. They instead offered me two alternatives both of which carry risk (moderate risk), and one of which charges an a annual fee to boot. The interest rate is also not any better than what was offered to me by Nedbank, The cash is now languishing in the Money Market, where the money was placed without my consent, (they do NOT have my Power of Attorney), andwhich as everyone knows is the quickest way to erode one's capital. Shame, shame, shame on Standard bank.
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