Share

Nedbank hits back

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

Cape Town - In a response to a Fin24 user's claim that Nedbank is ripping him off with fee increases, the bank on Friday said that its retail average fee increase for this year was 6%, in line with inflation.

Fin24 user Grant Mitchell wrote to our newly launched MyFin24 section, stating that while everyone is celebrating Nedbank's results, he would "do a little exercise to show how they are screwing (sic) their customers with fee increases".

In a written response to Fin24, Sibongiseni Ngundze, managing executive: retail relationship banking, said Nedbank encourages clients to reduce their charges by transacting through more cost effective channels.

"Nedbank offers value in both pay-as-you-use (PAYU) pricing (for lower volume requirements) and in-bundled or capped alternatives (for higher transacting volume behaviour).

"Nedbank actively engages with our clients for them to reduce their fees by selecting the right product and pricing plan to suit their needs, providing free on-line saving tools and a pricing call centre.

"Our on-line savings tools and tips on how to save on fees by transacting via more cost-effective channels, can be accessed here or (clients can call) on 0860 555 111.

"We will be engaging with Mr Mitchell to understand his specific needs and transacting behaviour and will help him to reduce his fees by recommending the best product and pricing plan for his needs."

* 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.

* Follow Fin24 on Facebook, Twitter and Google+.



We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.99
-0.2%
Rand - Pound
24.10
+0.0%
Rand - Euro
20.60
-0.0%
Rand - Aus dollar
12.37
+0.4%
Rand - Yen
0.13
+0.6%
Platinum
902.70
+0.0%
Palladium
1,006.61
+0.0%
Gold
2,154.54
-0.3%
Silver
24.96
-0.4%
Brent Crude
86.89
+1.8%
Top 40
65,444
-1.2%
All Share
71,683
-1.0%
Resource 10
52,732
-1.1%
Industrial 25
99,056
-1.4%
Financial 15
16,497
-0.8%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders