Nedbank
2 months of stalling a bond application

2 months ago I wrote a raving report of superior service I received from a staff member at Nedbank who inspired me to change my banking to Nedbank. Without asking they offered me private banking service. 2 months later, I am close to leave them as quick as I joined.

I requested a quote on interest rate on a R600 000 bond 2 months ago. Even with a nett asset value of R5 million including unbonded tenanted property, fixed deposits of over R2 million, they keep changing the requirements. As a contractor I ran into all sorts of hassles. They want a contract from my employer even though I told them at least 10x I am a contractor with no employer but I still sent them a contract that I have with the supplier since 2007. Now they demand to see a foreign work permit because the company I work for in Africa is a foreign company even though I never go to the company's country. I provided them with financials of my accredited accountants, title deed, signed letter from the supplier to indicate work for the next 6 months worth nett R450 000, still not good enough. I don't need the bond as I can use fixed deposits but bonding a rental property provides tax breaks. So, why do I need them?

Company: Nedbank
Country: South Africa
City: Century City

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