Nedbank
Investment a/c capital not paid on maturity date

I invested in a 6 month Easyaccess Deposit account with a maturity date of 12th April 2013.
I requested and signed that on maturity the capital and the interest be paid into another account that I hold at another bank.
On 12th April I received one SMS from my other bank notifying me of a deposit at 21:09 in the evening which covered the interest portion only.
The following day (Saturday 13th April) I visited Nedbank to find out why the R400, 000 capital had not also been transferred on the 12th.
After standing in a queue at enquiries from 10:45 to 11:15 I finally reached the desk and was informed the capital was sitting in a suspense account and would only be transferred the following Tuesday 16th April as the transfer cannot be effected until then.
So I did not receive my investment back on the agreed maturity date and will also lose 4 days interest.
On mentioning I was not happy I was informed to ask my other bank to give me a letter stating how much interest I would lose and then bring it back to Nedbank and then I might be able to request the loss.
Well that would mean more of my time being spent stood in queues at both banks which is totally unacceptable.

Company: Nedbank
Country: South Africa
City: Klipfontein, Witbank

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