Discover how Nedbank transforms the lives of thousands of clients with innovative financial solutions and an unwavering commitment to sustainability. Whether you’re looking to open an account, enjoy exclusive benefits, or ensure secure transactions, Nedbank is here to meet your needs.
With over a century of experience, the bank combines tradition and modernity to deliver excellence. From accessible banking accounts to personalized investment options, everything is designed to simplify your life.
Keep reading to explore the history of Nedbank, fees and commissions, reward programs, and much more. Find out why this bank is a top choice in South Africa.
About Nedbank
Nedbank was founded in 1888 in Amsterdam as the Nederlandsche Bank en Credietvereeniging voor Zuid-Afrika to provide financial services in South Africa. That same year, it opened its first branch in Pretoria. Over time, the bank underwent several changes, including a name change in 1903. By the mid-20th century, its South African operations became independent, especially during World War II.
In 1971, the bank officially became Nedbank and was fully South African-owned by 1970. The Nedbank Group was formed in 1973 through mergers with Syfrets SA and Union Acceptances. In 1986, Old Mutual acquired a majority stake, strengthening its position. Further expansions, including the integration of Nedcor and BoE in 2003, broadened its portfolio.
Recently, Nedbank has focused on growth across Africa and beyond. In 2009, it fully acquired Imperial Bank South Africa, and in 2014, it secured a 20% stake in Ecobank. Today, it is recognized for innovation, sustainability, and a strong client network locally and internationally.
Nedbank Products Reviewed by Infinity Discover:
Fees and commissions
| eNotes (SMS notifications) | R0.50 |
| Debit orders (internal and external) | Free |
| Stop payment – digital channels | R5 |
| Annual debit card service fee | Free |
| Additional (secondary) card | R40 per month |
| Overdraft facility | R69 per month |
| Card replacement in branch | R160 |
To learn more visit: https://personal.nedbank.co.za/content/dam/nedbank/pdfs/everyday-banking-fees-2025.pdf
Rewards Programs and Benefits
- Rewards and Discounts: Nedbank provides exclusive benefits to enhance your banking experience. You can enjoy 50% off Nu Metro movie tickets and withdraw Greenbacks as cash at any Nedbank ATM. Additionally, access discounts through the Avo SuperShop app with Greenbacks Exclusive deals.
- Convenience and Control: Opening an account online with Nedbank is quick and straightforward. The Money app and Online Banking allow you to switch your salary and debit orders effortlessly. With instant access to your account via the Money app, Cellphone Banking, or Online Banking, you maintain full control at all times.
- Advanced Security: Nedbank prioritizes your security with features designed to protect your account. You can accept or reject transactions with access to a 24/7 anti-fraud hotline. Manage your cards easily by blocking, freezing, or replacing them through the Money app, Online Banking, or the 24/7 call center. You can also set payment limits and activate or deactivate your cards as needed, with the added protection of chip-and-PIN-enabled cards.
Requirements to Open Your Account
1. For Children (MiGoals4Kids Account)
Age: Under 16 years.
Required Documents:
Child’s complete birth certificate.
Valid identification document of the legal guardian (South African ID or passport).
Recent proof of residence of the guardian (not older than three months).
Account Opening: Must be done by parents or legal guardians, either in person or online, with supervision throughout the process.
2. For Teenagers and Youth (MiGoals Account)
Age: 16 years and above.
Required Documents:
Valid identification document (South African ID or passport).
Recent proof of residence (not older than three months).
Account Opening: Can be initiated by the teenager directly, depending on the account type, or by parents for specific youth accounts.
3. For Adults (MiGoals, Everyday Accounts, or Other Accounts)
Age: 18 years and above.
Required Documents:
Valid identification document (South African ID or passport for non-residents).
Recent proof of residence (not older than three months).
Proof of income (recent payslips or stamped bank statements), depending on the account type.
Account Opening: Available online through the Nedbank Money app or in person at a branch.
For more information visit the official website: https://personal.nedbank.co.za/home.html
How to Open an Account
- Click on “Get Started”
On the Nedbank website or Money app, locate the “Get Started” option to begin the account opening process. Click to explore the available account types and choose the one that best suits your needs. - Click on “More Ways to Apply”
After selecting your preferred account, click on “More Ways to Apply” to view various methods to complete the process, whether through the app, online banking, or a combination of both. - Choose Between the Available Options
- “Get it on the App”: Complete the account opening process directly via the Nedbank Money app.
- “Use Online Banking”: Open your account using the Nedbank Online Banking platform.
- “Start Online, Finish in Branch”: Start the process online and finish it in person at a nearby branch if preferred.
4. Finalize and Access Your Account
Once completed, your account will be activated. Access it immediately through the Money app or Online Banking. If you opted for a physical card, it will be delivered to your registered address.
Customer Experience: What to Expect
Nedbank is dedicated to delivering a personalized and efficient customer experience. The bank’s branches are thoughtfully designed to ensure a welcoming environment where clients feel comfortable and valued during their visits.
With advanced digital solutions, Nedbank provides 24/7 access to banking services through the Money app and internet banking. These tools offer clients the flexibility and convenience to manage their finances anytime, anywhere, simplifying their day-to-day banking needs.
To further enhance customer satisfaction, Nedbank has dedicated support teams readily available to assist with queries and concerns. This commitment to responsive and reliable service underscores the bank’s focus on building lasting relationships with its clients.
Advantages of Choosing Nedbank
Manage your money securely and effortlessly with a virtual card, free balance checks, and smart savings. Enjoy advanced security and tools that simplify your financial life—see the benefits below!
Virtual Card for Safe Transactions:
The virtual card protects your physical cards and allows secure online purchases or payments at till points without additional fees.
Free Balance Checks:
The Money app offers quick and free balance checks. Log in to view your dashboard or use the Balance Peek feature for instant access.
MoneyTracker:
A free tool on the Money app or Online Banking to track income and expenses, set budgets, and monitor spending habits.
Earn Interest on Savings:
The MyPocket account, linked to your main account, offers up to 7.25% interest annually on balances up to R9,999 and 6.25% on higher balances.
Security at Nedbank:
Nedbank prioritizes security with advanced technologies, including two-factor authentication and encryption. Transactions are monitored 24/7 to detect suspicious activities, ensuring immediate responses to potential threats.
Security and Data Protection
Nedbank places a high priority on security, utilizing advanced technologies such as two-factor authentication and encryption to safeguard client information. These measures ensure that every transaction is conducted securely, providing peace of mind for all users.
The bank also maintains round-the-clock monitoring of transactions to quickly identify and respond to any suspicious activities. This proactive approach ensures immediate action is taken to protect clients from potential threats or unauthorized access.
In addition to technological safeguards, Nedbank strictly adheres to comprehensive data privacy policies. By ensuring that client information is only used for authorized purposes, the bank reinforces its commitment to providing a secure, reliable, and trustworthy banking experience.
Talk to Nedbank:
Get in touch with Nedbank using the contact details below:
- Customer Service: 0860 555 111 (South Africa).
- Support Email: [email protected].
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