Meet the bank Nedbank

Nedbank holds a prominent position as a major bank in South Africa, tracing its roots back to 1888 in Holland. Its primary objective at inception was to facilitate business transactions between the Netherlands and South Africa. The bank expanded its operations in South Africa by establishing a presence in Durban in 1890.

Throughout its history, the bank underwent several name changes. Initially known as “Nedcor Bank,” it later transitioned into the “Nedcor Group.” Ultimately, in 2003, after merging with Old Mutual, another significant finance company in South Africa, it adopted the name Nedbank.

Beyond conventional banking, Nedbank prioritizes community welfare and environmental stewardship. The institution emphasizes leveraging technology to enhance user convenience, enabling activities such as online balance inquiries and bill payments.

Fees and commissions

Opening of accountFree
Minimum account balanceR100.00
Inter-account transfersFree
Replacement of lost/damaged cardR175.00
Annual service fee R220.00
Monthly statements (fee per page)R1.00
Balance enquiryFree

For further details, visit:

Nedbank Products Reviewed by Midnance:

How to open an account

Opening an account with Nedbank is straightforward and offers flexibility, allowing applicants to choose between online, in-person, or phone application methods.

Requirements for opening an account:

  • Applicants must be over 18 years old. Reside in South Africa with a valid South African identity document.
  • Maintain a favorable credit score.

To open your account, follow the steps below:

  1. Select your desired account type on the official website.
  2. Click the “Apply online” button.
  3. Complete the personal information form.
  4. Await confirmation of your account.

For additional information, visit the official website:

Talk to Nedbank:

For general inquiries, Nedbank offers the following options:

  • Contact the Nedbank Contact Centre: 0800 555 111.
  • Contact the MFC Contact Center: 084 196 4473.

The Nedbank Contact Centre operates 24/7 and is toll-free.

You can also follow Nedbank on social networks:

Nedbank’s Facebook

Nedbank’s Instagram