The Nedbank current account is a transaction account with overdraft facilities, and offers the following: Statements
We send statements to you at intervals that best suit your needs, while interim transaction lists are available online. All transactions that are subject to VAT are flagged on your bank statement, which then acts as a certificate for VAT claims. Options: - Cross transfers: Automatically transfers prespecified charges and transactions to a nominated account.
- Sweeping: The option to sweep balances automatically between accounts daily, weekly or monthly to maintain a target balance.
- Narratives: Pre-format and free-format; may be validated against prespecified masks and CDV routines to assist with reconciliation.
- Cash management: optimises liquidity.
Document imaging
All deposit slips and cheques (including cheques from other banks) are copied using a sophisticated document-imaging process, as part of the proof-of-deposit (POD) process. We balance all cheques included in a particular deposit against the deposit slip, and take up any discrepancy with the accountholder. This allows Nedbank to provide you with a high-quality electronic image of deposit slips and statement copies within 24 hours of your request. (This facility is available via NetBank Business, our internet facility, or on CD-ROM.) Chequebooks
In conjunction with our chequebook supplier, we have developed cheque forms on watermarked paper that are printed with security ink and registered to Nedbank only. We currently use security paper for all our cheque forms, and also make it available to other authorised printers for the printing of private cheques. Affinities
There are four types of Nedbank Affinity current accounts, each reflecting a client’s support of: - the environment (Green Affinity);
- the development of arts and cultural projects (Arts Affinity);
- the advancement of sport (Sport Affinity); or
- our country’s youth (Children’s Affinity).
You can order chequebooks via our electronic online system and have them delivered to any Nedbank branch. Indemnities
A suitable indemnity will be required for the following requests to be accommodated: - printing of own cheques;
- making use of fax for the transmission of instructions pertaining to any aspects of the current account; and
- signing of cheques by mechanical means.
Holistic cash-handling services
A complete cash-handling offering that includes the use of CashVault, pickup and delivery service, security monitoring, risk transfer option, and end-to-end business process optimisation. Cash is one of the main transaction components of a current account. - We aim to create a customised solution to suit your business, and are in a position to offer various alternatives.
- Nedbank has bulk-cash centres in all the main cities of South Africa.
- Nedbank also shares similar bulk-cash centres with other banks.
Nedbank provides companies with a risk-free cash pickup, delivery and CashVault service that offers your company: Transfer of risk - Nedbank’s approved cash-in-transit service provider will collect the cash from your premises and deliver it to your nearest cash centre. The removal of cash from your premises greatly reduces risk.
- The possibility of robbery is low with the procedures that we follow.
- You have the opportunity to leverage the excellent track record of Nedbank Security in protecting your assets. This unique service involves monitoring your site via dedicated offsite alarm systems as well as recording site activity through onsite digital camera systems.
- CashVault is an automated cash acceptance terminal that counts, validates and verifies the authenticity of cash, before dropping it into a secure storage canister.
Convenience - You are relieved of the administrative burden.
Value - You now have the ability to accumulate small cash deposits into bulk deposits at associated lower prices.
- This holistic offering is more cost-effective when compared with the costs of the individual elements.
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