Nedbank
Insurance being debited on loan account

I recently received a letter from Nedbank saying " We refer to Nedbanks recent correspondence regarding the renewal of your external homeowners policy, for which we have not received your reply. As you have failed to comply with the requirements, we have no option but to load our own home owners cover"

Firstly, there was no initial correspondence received from Nedbank regarding insurance. I noticed on my home loan account that Nedbank had charged me for insurance for 2 months in March and for the month of April.

On opening my loan I elected that I will be getting my own home owners insurance. Whilst dealing with the Nedbank transfering attorneys, I had sent all the relevant policy information that I had from Santam as well as ceding of the policy in favour of Nedbank etc. I confirmed with the attorneys that they were happy with the policy and the amount the house was insured for. etc.

Why does Nedbank now suddenly decide to go and charge me for their own insurance. I have my own insurance, I sent you proof, and you never tried to contact me regarding this. This is daylight & I want a refund now!

Furthermore, i sent this query to my banker one day ago with no response

Company: Nedbank
Country: South Africa

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