Consumer journalist Wendy Knowler has taken aim at Nedbank’s credit card charges, which she described as insincere and potentially illegal.
Speaking to The Money Show with Bruce Whitfield, Knowler described a Nedbank client’s unhappiness with the charges.
In his September statement, the client was surprised to see that R220 had been deducted from his credit card account for fees.
The charges included two deductions, described as “maintenance fees”, and a third labelled as an “additional card fee”.
It emerged that a system glitch resulted in some Nedbank clients not being charged maintenance fees in July and August.
Knowler said Nedbank added these fees to affected customers’ September accounts without notifying them.
A bigger concern to Knowler is the multiple charges which Nedbank has on its credit cards. These include:
- A credit facility fee
- A maintenance fee
- An additional card fee
Knowler said there is a legal question mark around some of these fees. “I always wondered why there is both a credit facility fee and a maintenance fee,” she said.
She added that the “additional card fee” is completely false, with the strange excuse from Nedbank being that it is “not allowed to use the same narrative in the same month”.
A Nedbank spokesperson confirmed that a technical error resulted in certain clients not being billed the maintenance fee in July and August 2020.
It said the maintenance fee is in accordance with NCA regulation and covers the monthly administration, maintenance of the account and value-added services associated with the product.
“The technical incident was rectified on 07 September and the manual fee recovery was processed on 18 September. We apologise to clients for any inconvenience caused,” the spokesperson said.