Banking fees give you access to digital banking channels, like the Nedbank Money app, Cellphone Banking and Online Banking, and to services, including Nedbank ATMs, the Nedbank Contact Centre and branch agents. These fees also go towards keeping your money safe and your account running smoothly.
If you see a debit order you don’t recognise, taking money from your account, you can dispute it via the Money app or Online Banking or by calling +27 (0)860 555111.
It’s important to look at your statement every month to check for any suspicious or unauthorised debits. It’s also a good way to see what fees you’re paying and where you can save and where you.
You can use MoneyTracker on the Money app to see how much of your money you spend on necessities and luxuries. That way you can make better decisions on what you spend and save.
Debit orders don’t go off on public holidays and Sundays. Your service provider will move the debit order to the next working day or contact you if they’re going to take the money earlier.
Payments made from a Nedbank account to another Nedbank account can go off on the weekend (Saturday and Sunday) and public holidays. Payments from a Nedbank account to another bank account will go off in 2 working days (Saturdays from 08:00 to 14:00 are considered working hours).
Instant payments and payments to cellphones are not delayed by weekends and public holidays and will go off the same day.
You can go to your History on the Money app or Online Banking to see all your previous transactions or use MoneyTracker to see a breakdown.
This is when money is deposited into your account, but takes time to show. A pending transaction is also a recent card transaction that the merchant has not yet processed fully.
You can reverse an unauthorised debit order and block it for 3 months. If you’re using the Money app or Online Banking to make a payment, you will get an Approve-It message on your cellphone, asking you to accept or reject an electronic payment. This is to prevent any unauthorised electronic payments.
We may reject a transaction if you don’t have enough money in your account to make a payment or transfer. We may also reject a transaction as a security measure to prevent fraud.
If you have a Professional Banking or Nedbank Private Wealth Account, you have access to a relationship banker – a dedicated consultant that you can call or email directly to help you with your banking.
If you forget your PIN, call +27 (0)860 555 111 to get a temporary one.
A PIN doesn’t expire, but you should change it regularly to keep your PIN private. You can change your PIN on any digital banking platform (Money app, Online Banking or Cellphone Banking) and at a Nedbank ATM or branch.
SMS authentication is when a message with a reference number or OTP (one-time password) is sent to your cellphone to verify that you’re the account holder making the transaction. OTPs will never have the letter O, but they might have the number 0 in them. OTPs expire after a set time.
You should get the SMS within a few seconds, but sometimes SMSs are delayed due to network traffic. If this happens, you can carry on with your banking while you wait.
You need to go to a branch to authenticate (verify) yourself and confirm your cellphone number.
After you’ve done that, all once-off payments, increases in payment limits, or loading of new beneficiaries will have to be authenticated through the SMS functionality. If an OTP (one-time password) or reference number is entered incorrectly or not at all, the transaction won’t go through. Payments made to beneficiaries that are already loaded onto your profile do not need SMS authentication.
Yes, SMS authentication is needed for only certain transactions. If SMS functionality is unavailable, our Telephone Banking agents can still help under exceptional circumstances.
Yes, you can ask an agent to add a recipient to your profile. You’ll have to provide the agent with an OTP (one-time password) through SMS authentication to authorise the recipient and make a payment.
You can add a recipient to your profile once you’ve authenticated yourself through an SMS’d OTP (one-time password).
You can add the following beneficiaries to your profile:
- Nedbank accounts
- Recipients with other South African bank accounts
- Bank-approved recipients*
- Credit card accounts
*A bank-approved recipient is a company or institution with which we have a special payment agreement (for example a university). When paying a bank-approved recipient, you don’t need their banking details.
You can increase or decrease your payment limits by using the Money app or Online Banking, visiting your nearest branch, or calling the Nedbank Contact Centre on +27 (0)860 555 111. The maximum limit for a payment or transfer is R150 000 a day.
For security reasons, we limit how much money can leave your account in a day. Both you and Nedbank set this limit. You can change this limit by using the Money app or Online Banking, visiting your nearest branch, or calling +27 (0)860 555 111. The maximum payment or transfer limit is R150 000 a day.
Payments from a Nedbank account to another Nedbank account will go through and be available in the receiver’s account on the same day. When making payments to accounts at different banks, always allow for a delay. For example, if you pay someone at a different bank on Monday morning, they may get the money only on Wednesday.