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Nedbank rips me off, says Fin24 user

MyFin24 is a user-generated section of Fin24.com. The stories here come from users.

Fin24 user Grant Mitchell writes:


While everyone is celebrating Nedbank’s results today (yesterday), I thought I would do a little exercise and show you how they are screwing (sic) their customers with fee increases.

I have attached a spreadsheet (simple layout with accompanying graphs) just to show how they slowly add in maintenance fees in 2012 while testing the water with them in 2011.

The net result is that for the period in question my fees have increased by around 48% (this is for a small account). You can dress-up a rip-off up and call it another name but it is still a rip-off.

To view the spreadsheet, click here.

Nedbank


* Fin24 approached Nedbank for comment yesterday. They didn't respond by the deadline. We will publish the response as soon as we receive it.

* Get published! Send your money woes and joys to Editor@Fin24.

Disclaimer
: All articles and letters published on MyFin24 have been independently written by members of the Fin24 community. The views of users published on Fin24 are therefore their own and do not necessarily represent the views of Fin24.

Fin24 reserves the right to obtain service providers' comments before publishing any articles or letters. Fin24 editors also reserve the right to edit or delete any and all user comments received.

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