Wait - why did that debit order go off so early?
Nedbank's been actioning a lot of their customers' debit orders early.
Debit order systems allow banks to track when salaries get paid in.
This month, February, realising it's a short month and anticipating a lot of unpaids, Nedbank decided on a lot of early debits.
Thousands of people were hit by debit orders going off before their salaries were paid in, and left with no money or being unable to honour the debit amount.
They sent out sms-es about it. I think a lot of people did not see them. Apparently a lot of people got caught with no money in their account, because their salaries had not been paid in yet. Also if debit payments are not met, there are fees attached.Wendy Knowler, consumer journalist
I started engaging with them this week. I got a lot of corporate responses at first that did not make a lot of sense. Finally the boss man himself, of MFC, admitted they messed up, eating humble pie. The costs will be reimbursed and attached costs will be dealt with immediately.Wendy Knowler, consumer journalist
Listen to the entire interview about the debit orders and the reimbursement of costs, below.
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning.
As South Africans look for ways to make extra cash, Gumtree South Africa has warned consumers not to fall prey to online fraudsters.Read More
The Ombud for Short Term Insurance’s aim is to resolve short term insurance complaints ''fairly, efficiently and impartially''.Read More
Wendy Knowler, consumer Ninja, on the small print and pitfalls of credit life insurance.Read More
The annual banking ombuds report has been released. Were they good, were they bad; how many complaints have been received?Read More
Car dealerships and repair shops have been allowed to reopen under very strict conditions, explains consumer journo Wendy Knowler.Read More
It seems many credit life claims are being rejected. Here are nine companies that were named and shamed in a new report.Read More
You can send your consumer-related questions and queries to consumer journalist Wendy Knowler via firstname.lastname@example.orgRead More
Certified financial planner Kobus Kühn has compared what various companies, long-term insurers, and medical schemes are offering.Read More
Consumer journalist Wendy Knowler has compiled some information regarding credit insurance policies offered by various banks.Read More
Consumer Ninja, Wendy Knowler, on payment holidays from banks in which you get a break from interest and repayment of debt.Read More