Learn how to easily close your Nedbank account

Being a prominent player in the South African financial services sector, Nedbank offers a comprehensive suite of banking solutions for individuals, small businesses, and large corporations. Featuring a rich history that dates back to the 1830s, the organization has grown to become one of the leading financial services groups in South Africa.

With Nedbank, you get access to personal banking solutions such as savings and transactional accounts, credit cards, loans, mortgages, and insurance. On the other hand, their business banking services include current accounts, cash management solutions, trade finance, and business loans. And lastly, you have corporate and investment banking services that include advisory services, mergers and acquisitions, and capital markets solutions. In addition to being a juggernaut in the field of banking services, the institution also focuses on offering an extensive branch network and a robust digital banking experience through its smartphone apps.

Having said that, sometimes even the most competent banking companies fail to satisfy 100 per cent of their customers. And if you are one of them who is looking to take your banking transactions elsewhere, then this all-inclusive guide should be a good fit.

How to Close Your Bank Account

Whether you hold a savings account or a current account at a Nedbank branch in South Africa, you can proceed to close your bank account simply by contacting the bank’s customer care over the phone or visiting any of the institution’s branches for guidance on the process you need to follow.

Keep in mind that if your bank account has been lying dormant for an extended period, then Nedbank themselves may close your account after giving you reasonable notice. And before the closure of your account, you need to clear any amount owed or arrears due to the bank, as well as withdraw any remaining balance left in your bank account.

You can kickstart the account closure process by following any of the below-mentioned processes judiciously.

How to Close via Nedbank Contact Centre (NCC)

1. The primary step involves giving a phone call to the NCC at the following phone number: 0800 555 111. The given number is toll-free and available 24×7.
2. Navigate through the on-call menus and select the option to speak to a customer care representative.
3. As soon as a customer care agent connects to your call, state that you want to close your account, and then proceed to answer some security questions to confirm your identity. This might involve providing your bank account number, government-backed ID details, date of birth, etc.
4. Once you complete the identification process, the customer care representative will ask you the reason for closure, and after you state the same, the representative will check your account to see if there is any amount owed in your name. Additionally, your account balance will also be checked, and if there is a remaining balance, you will need to decide the procedure through which you will be withdrawing it.
5. After the customer care agent collects all the required information, you will be notified of the waiting period before your account is closed. Make sure you understand the timeframe and any potential fees associated with closing the account.

Finally, once your account is closed, you will receive a confirmation message at your registered mobile number or email address.

How to Close by Visiting a Nedbank Branch

1. To close your Nedbank account by visiting a branch, you need to first find a nearby branch location by visiting the official website.
2. On the landing page, click on the ‘Branch’ option, and the list will filter out only the available branch locations. Browse through the list and visit your preferred one by following the listed address. Ensure that you carry your identification and bank documents (cheque book, passbook, statements, etc.), and for accounts with joint holders, all account holders should be present.
3. At the bank branch, inform the bank staff about your intention to close your account, as they will help you direct them to a specific representative who handles account closures.
4. Once your identity is verified, you will be asked to fill out an account closure form and provide all the supporting documents as necessary. After that, the representative will check your account balance for any outstanding debits or credits. Also, ensure you have the option to withdraw any remaining balance in your account, either by cash or direct transfer to another account.
5. You will then be asked to hand over any issued debit or credit cards, along with cheque books, after submitting the cancellation form. Once done, you will be notified regarding the timeframe for your closure.

Lastly, keep a copy of any closure confirmation receipt or documents for your records.

Ways to Register a Complaint

The ideal way to let your voice heard to the Nedbank customer support regarding any negative experience that you may have had with their products and/or services is by giving them a call at the following numbers: 0860 444 000 or +27 11 710 4011. Phone lines are open from Monday to Friday between 8AM and 5PM, and on Saturdays from 8AM to 12PM.

In addition to that, you can connect with them via email at clientfeedback@nedbank.co.za or complaints@mfc.co.za. The latter email ID should only be used for specific vehicle finance complaints.