Notices

If for any reason you feel we have fallen short of the level of service you expect, please let us know. We will then rectify the problem as soon as possible, undertaking appropriate measures to prevent the problem from happening again.

If the matter is not resolved to your satisfaction and you would like to make an official complaint, please follow the process set out in our complaints guide.

The latest update to our online wealth services includes a number of changes that will give you increased flexibility when transacting online or on your mobile app:

• The daily limit for domestic and international payments made through the desktop has been removed, to allow payments of any value to be made.
• Payments with a cumulative daily total of £500,000 and above will be subject to additional security checks. Payments will not be processed until we have contacted you to verify your payment. We may request supporting documentation.

Should you have any questions about this change, please contact your private banker or our client services team.

On 15 October 2021, the limit per transaction for contactless cards increased from £45 to £100. The decision was made by HM Treasury and the Financial Conduct Authority following a public consultation and in discussion with the UK retail and banking sectors. It follows on from the successful increase in the limit from £30 to £45 in April 2020.

As a security measure, you will need to input your PIN after 5 transactions, or when the cumulative value of your transactions reaches £300, whichever is sooner.

If you have any concerns about how this change may impact you, have a look at our useful fact vs fiction list here.

New European Union (EU) legislation comes into effect from 3 September 2020.

The Shareholder Rights Directive II (SRD II) is designed to improve corporate governance and encourage long-term engagement among shareholders of companies that have their registered office in the EU and whose shares are traded on EU regulated markets.

If you hold shares in companies within the scope of this directive, you will be notified of corporate events in a timely manner and have the opportunity to vote at general meetings, on issues such as board composition, strategy and directors’ remuneration.

Nedbank Private Wealth will be obliged to share information about the identity of shareholders at a company or share issuer’s request. As is common practice across other jurisdictions, the information we will be asked to share will include the shareholder name, their contact details, and the registration number and number of shares held.

What do clients need to do?

If you haven’t already submitted your ‘decision maker’ nomination form, you can download it here. Please complete it and send it back to us at your earliest convenience. 

You may nominate yourself or an appointed third-party with authority over your account, such as an investment adviser. Please ensure you have their agreement for us to contact them. Where you have appointed Nedbank Private Wealth as your discretionary investment manager, we will act as your decision maker on corporate actions within the portfolios we manage on your behalf.

Notifications will be sent by email as this is the preferred means of contact to ensure prompt and direct delivery, so it is important you provide us with your nominated decision maker’s current email address.

Should you wish to nominate someone who does not currently have authority over your account as your decision maker, or you have questions regarding the impact of the Shareholder Rights Directive II, then please contact your private banker, or our client services team.