Nadeo debit orders

zerocool2009 said:
It might not be a big deal to you, but in my eyes it is extremely important.

Did any of you read up actually what is a nadeo debit order ?

Lets say you got a bonus of R100 000, and you owe someone R99 999 ... They have the right to take the money before you can get to it (if you owe them money).

Like I have said, in this case, the system is designed to sheer ever sheep on the same rules. No matter if you are king George or simple Sam

So if FNB goes offline again, I wont moan and I will smile, as that doenst impact anyone. Just pack the good back and go home. Another story if you want to give petrol back when you filled up !

Again, sorry wont
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Yes, some of us know what NAEDO is...

And your example, what is wrong with that if you owe the person that money?
 
zerocool2009 said:
It might not be a big deal to you, but in my eyes it is extremely important.

Did any of you read up actually what is a nadeo debit order ?

Lets say you got a bonus of R100 000, and you owe someone R99 999 ... They have the right to take the money before you can get to it (if you owe them money).

Like I have said, in this case, the system is designed to sheer ever sheep on the same rules. No matter if you are king George or simple Sam

So if FNB goes offline again, I wont moan and I will smile, as that doenst impact anyone. Just pack the good back and go home. Another story if you want to give petrol back when you filled up !

Again, sorry wont
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You might want to try writing more coherent sentences.
 
There is an agreement in place. Yes you owe them money. But with that agreement is a payment date. You CANNOT simply take money on the 14th because you see the money is available despite your payment date being on the 15th. An agreement works both ways. Why are people obtuse to this fact?
 
ambroseg1 said:
There is an agreement in place. Yes you owe them money. But with that agreement is a payment date. You CANNOT simply take money on the 14th because you see the money is available despite your payment date being on the 15th. An agreement works both ways. Why are people obtuse to this fact?
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Sjoe ... wish I could give you a bells !!!!!!! Someone is listening !

I think most of you even don't bank with FNB or was in this situation (with a bond)
 
zerocool2009 said:
Awesome, now ... picture you have 35 bonds ? Will that rule be a nice picture ?
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If you owe the money, and the bonds are set on NAEDO etc etc etc... then i still don't see the problem if the debit order goes off on the set date.

Dude, you are barking up the wrong tree. The banks systems made a mistake, they corrected it, and apologised and would have rectified any negative listings from it.
 
ToxicBunny said:
If you owe the money, and the bonds are set on NAEDO etc etc etc... then i still don't see the problem if the debit order goes off on the set date.

Dude, you are barking up the wrong tree. The banks systems made a mistake, they corrected it, and apologised and would have rectified any negative listings from it.
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My last reply on this topic, if you don't see a problem, then don't ever go sign a bond document please (without a nadeo).

Think the bank was trying to get clever with this and they will lose a case at the ombudsman.

What I was trying to say in my first post, if you are in the same boat, what happened to you or how did it affect you.

ToxicBunny, I assume you don't bank with FNB or owe anyone money (Thanks for your input)
 
ToxicBunny said:
If you owe the money, and the bonds are set on NAEDO etc etc etc... then i still don't see the problem if the debit order goes off on the set date.

Dude, you are barking up the wrong tree. The banks systems made a mistake, they corrected it, and apologised and would have rectified any negative listings from it.
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IT DOES NOT GO OFF ON THE SET DATE. IT GETS DEDUCTED EARLY!!!!!!!

And it is NOT a mistake. The system is set up to take money early if that money is available.
 
ambroseg1 said:
IT DOES NOT GO OFF ON THE SET DATE. IT GETS DEDUCTED EARLY!!!!!!!

And it is NOT a mistake. The system is set up to take money early if that money is available.
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As I stated, IF Its set on NAEDO... aka Non-Authenticated EARLY Debit Order. They are set to a range of days (usually 4 as far as I remember) and they scan the account during those days and deduct when there is sufficient money in the account.

And if the bond or other Debit Orders were transferred to a NAEDO style setup, then that is a mistake, which FNB seem to have corrected as per the OPs post.
 
zerocool2009 said:
My last reply on this topic, if you don't see a problem, then don't ever go sign a bond document please (without a nadeo).

Think the bank was trying to get clever with this and they will lose a case at the ombudsman.

What I was trying to say in my first post, if you are in the same boat, what happened to you or how did it affect you.

ToxicBunny, I assume you don't bank with FNB or owe anyone money (Thanks for your input)
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If the bank had stuck to their guns, they would have lost yes.. without a doubt. They didn't. They corrected the issue and apologised. Why the actual fek is this so hard for you to understand.

I do bank with FNB, they made an error once with my credit card and corrected it and contacted me before I even knew there was an issue.
 
ToxicBunny said:
If the bank had stuck to their guns, they would have lost yes.. without a doubt. They didn't. They corrected the issue and apologised. Why the actual fek is this so hard for you to understand.

I do bank with FNB, they made an error once with my credit card and corrected it and contacted me before I even knew there was an issue.
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Must I spoon feed this to you ... 35 bonds payments ... work out 1 days interest I save if it taken early !

Ag, a CC is @#$@#$#@ dude ! really !

You cant compare a CC with a few bonds !
 
zerocool2009 said:
Must I spoon feed this to you ... 35 bonds payments ... work out 1 days interest I save if it taken early !

Ag, a CC is @#$@#$#@ dude ! really !

You cant compare a CC with a few bonds !
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So, you have 35 bonds, great for you... but now you are saying if they took it early you would have saved interest, and you are bitching about them taking it early?.. :wtf:

and btw, I can compare a CC to a bond, I just did.. it was very simple. at the end of the day they are loans. One secured, one unsecured... beyond that they are pretty much the same.
 
With a NAEDO you might be put in a bad situation, miss another payment, or have your monthly fees affected... but in practice, it will be an annoyance at most.

I get that you see it as a principle, but I can tell you that all companies switch people to NAEDO if possible.

That is what you would need to contest, which is impossible because they can claim that it was a mistake. Companies save a massive percentage of collections with NAEDO so it is probably there to stay.
 
@OP this happened to me last month.They debited my account when they shouldn't have and earlier than agreed (the debit only goes out if account not settled in time).

My cheque account (non Tree bank) went into overdraft.
My minimum balance to not pay bank fees was affected (I have to pay fees this month)
My bank then charged me R100+ for insufficient funds (they honoured the overdraft)
I was charged a fee for the debit order (which I would not have ordinarily paid).
My other debits were at risk of not being paid.

My bank refused to refund me any fees for the incorrect debit and said I should claim the fees from tree bank. I had to transfer funds from another account to prevent my debits bouncing whilst I dealt with the issue. What about people who don't have a backup plan?

I agree an apology is not good enough at all. If a 3rd party debit order failed it would affect your credit history as that 3rd party is not concerned about tree banks "mistake" or apology. They definitely changed something in their system this past month. If I forget to settle my account on the due date, my "sorry" wont stop them charging me full interest.
 
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I once heard that if you encounter a problem with your bank, you can report them to a financial ombudsman and that bank will incur a fine for each time it is reported to the financial ombudsman. I'm not sure how true this is.

But maybe you should go to your bank and ask them for the contact details of their financial ombudsman (they have to give them to you). You may not get anything for your troubles, but at least the bank will be fined? If everyone did this when they were wronged by banks, maybe the banks would change their practices?
 
silverfoxrox said:
I once heard that if you encounter a problem with your bank, you can report them to a financial ombudsman and that bank will incur a fine for each time it is reported to the financial ombudsman. I'm not sure how true this is.

But maybe you should go to your bank and ask them for the contact details of their financial ombudsman (they have to give them to you). You may not get anything for your troubles, but at least the bank will be fined? If everyone did this when they were wronged by banks, maybe the banks would change their practices?
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I'm sure the fine is only if they refuse to action. The bank reversed the problem and informed the client. If the client incurred costs/loss, he can hold the bank responsible and demand compensation directly or via the ombudsman, if no loss was suffered, he won't be able to do anything.
 
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