Guiding consumers since 2009

Nedbank's cash sweetener to win new customers

By Staff Writer

Nedbank is wooing customers with a cash reward of R750 if they open one of a range of bank accounts before the end of March.

To get their cash, customers will have to open a Nedbank Ordinary Current Account, Everyday Current Account, N-5000 Investment Account or the Optimum Current Account.

However, to qualify for their reward customers must sms the word ‘Fresh' and their new account number to 31673 by 4 April and deposit their salary (of at least R3,000) into the account  by 31 May.

Nedbank claims its new campaign is a first in the South African banking industry. Saks Ntombela, managing director Transactional & Investment Products at Nedbank, explains: "The first few months of the year are often lean times for consumers, so the timing of the offer will be opportune for interested consumers."

With a nod to the on-going debate over bank charges, Nedbank points out that the money could be used ‘to offset service charges and bank fees, which is consistent with Nedbank's strategy to make banking more affordable'.

Ntombela says: "On average most current account holders pay R150 a month in bank charges, so R750 means free banking for five months."

Here at Justmoney.co.za will also recommend that you use our bank charges calculator first to compare accounts from different banks to check if, even with the R750 cash back, Nedbank's accounts are the most cost-effective products for you. You can also search and apply for Nedbank accounts by using our quick comparison tool.

Customers who open their current account and sms their account number and the word ‘Fresh' before 3 March will also get the chance to win more prizes because they will be entered automatically into a lucky draw that will culminate in the six week Fresh Start Money in the Bank TV Show.

The game show will be aired on SABC3 at 21h27 every Wednesday from 6 February until 12 March 2008, with contestants standing the chance of winning R100,000 worth of prizes each week. Phone-in contestants also stand the chance of winning other prizes.

Click here for more information on the products included in the offer.

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