Nedbank will defend itself in legal action related to ACSA transactions
The bank also says it closed the accounts of some 190 clients in 2023 following ‘reviews of client activity and related reputational risks’.
Nedbank
Financial Intelligence Centre must hand over reports on EOH, KPMG, Steinhoff, and Tongaat Hulett
The Equality Court makes an order in an application brought by six natural and juristic persons whose bank accounts were closed by Absa and FNB.
Which banks offer the cheapest transaction accounts in South Africa?
Solidarity’s latest Bank Charges Report singles out the progress made by Nedbank regarding competitiveness and transparency.
Ready to be heard, says Investec in rand-fixing case
Investec has expressed its readiness to present its case in the Competition Tribunal after the Competition Appeal Court dismissed the rand-fixing case against several banks, including Standard Bank, FirstRand, and Nedbank, this week.
Financial Intelligence Centre ‘freezes’ BHI Trust bank account
The court-appointed joint provisional trustees of BHI Trust are urging investors and creditors to submit their claim forms timeously.
Nedbank attempts to join law firm as defendants in R2.94m email fraud case
Couple allege the bank said it would freeze the account when it became aware of the fraudulent transaction.
Keeping it real-time: adoption rate of digital payment service PayShap ticks up
PayShap adoption takes another leap forward as Discovery joins banks offering the real-time digital payment service to their clients.
FST upholds debarment of rep who committed fraud to buy food for her child
The former bank manager’s actions were driven by desperation, but the FAIS Act is not forgiving, the tribunal says.
The two banks with the biggest increase in complaints in 2022
Complaints about current accounts and digital banking were the two largest categories of cases opened with the ombudsman.
Nedbank takes consumer to court for not disclosing vehicle’s location
The buyer returned the second-hand car to the dealership, which was in a dispute with the person on whose behalf it sold the car.
Tribunal sets aside debarment of consultant who changed record of advice
The far-reaching implications of debarment were not justified in the circumstances, the FST finds.
This is SA’s cheapest bank if you transact completely online, according to Solidarity’s survey
The report also compares the cost of banking at Absa, Capitec, First National Bank, Nedbank, and Standard Bank.
PIC rejects allegations that Government Employees Pension Fund is at risk of insolvency
In response to allegations on social media that it’s facing a R3.3 trillion legal claim against its portfolio of assets.
Old Mutual to ‘re-enter’ retail banking space in 2024
The group unbundled its majority stake in Nedbank in 2018.
Competition Tribunal orders banks to do business with Sekunjalo – for now
The Competition Tribunal has granted interim relief to the Sekunjalo Group, preventing three banks from closing the group’s accounts and ordering five others to reopen accounts that have already been closed. The interim […]
Nedbank to pay R2m fine for unapproved merger with Erf 7
Nedbank has agreed to pay a fine of R2 million for implementing a transaction before obtaining the approval from the competition authorities, the Competition Tribunal said last week. In a statement, the authority […]
Nedbank: Fica non-compliance was due to delays in promulgating amendments
Nedbank has blamed delays in the promulgation of amendments to the Financial Intelligence Centre Act (Fica) for the effective fine of R20 million and other administrative sanctions imposed by the Prudential Authority (PA) […]
