Nedbank
ACCOUNT SETTLEMENT

On the 27/03/2013 I telephoned the Personal Loans division of Nedbank to request a settlement figure for my personal loan account. This figure was given to me and was valid for seven days. The following day, 28/03/2013, I went into a Nedbank branch and paid the settlement amount. Yesterday I received an sms from Nedbank saying they would be debiting my account with the amount of R385.59 on 25/04/2013. I immediately telephoned the Personal Loans department to find what this was for as I had paid the settlement amount within the stipulated time period and was told it was because I had not contacted them after paying the settlement amount to request them to close the account. When I requested the settlement amount I was not informed I had to do this, nor was I told this when I did the deposit and no where in my loan contract does it tell me if I settle early I must do this. Nedbank is the only financial institution I know of where one has to request the account to be closed after paying the settlement amount! This was a five year loan that I settled after only two years! And yes, the debit order did come off my bank account today!!!

Company: Nedbank
Country: South Africa
City: Gauteng

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