Nedbank Capital South Africa Audit Confirmation Instructions

Published: 22/12/2023

The below guide highlights Nedbank Capital South Africa's specific instructions on accepted form types and how to setup the different form types for relevant bank accounts.

Nedbank Capital South Africa Clients

Nedbank Capital South Africa clients have turnover of over R700 million.

Nedbank South Africa Departments Not Available on Confirmation.com

Nedbank Capital, Nedbank Corporate and Nedbank Business Banking confirmations can be facilitated through Confirmation.com. There are however a few departments that are in the process of being on boarded and have thus not launched on Confirmation.com as of yet. Should an auditor want a confirmation from any of these departments, they would need to contact the department directly. Confirmation.com is constantly adding bank departments onto the system and will notify auditors once these additional departments have launched. Please refer below to a list of email addresses that can be used to send a manual paper request to the bank.

Department Name	Accounts	Email Address
Nedbank Retail	For clients with turnover under R700m	Send to client Nedbank RM
Nedbank Commercial	For clients with turnover under R700m	Send to client Nedbank RM
Nedbank Business	For clients with turnover under R700m	Send to client Nedbank RM
Nedbank Property Finance	3XXXXXXX (Starts with 3. 8 digits)	pfcorporate@nedbank.co.za
Nedbank Corporate Saver	90XXXXXXXX (Starts with 90. 10 digits)	cssupportdeskjohannesburg@nedbank.co.za
Nedbank Script Accounts	8XXXXXXXXX (Starts with 8. 10 digits)	nisclientservices1@nedbank.co.za
Nedbank Unit Trust	(Starts with 4/5/8. 5-8 digits)	clientservices@nedgroupinvestments.co.za
Nedbank Credit Card	(Starts with 3/4/5. 16 digits)	corporatecarddirect@nedbank.co.za

Nedbank South Africa Accounts

Account Name	Account Digits	Account Structure
Call	Consist of 12 digits + 6 Investor numbers	037881XXXXXX - YYYYYY (Starts with 037881)
Term Loan	Consist of 12 digits + 6 Investor numbers	057831XXXXXX - YYYYYY (Starts with 057831)

Note:

Derivatives can be confirmed by sending the ZA-Derivative form to Nedbank Capital. These forms will need to be set up on a individual account basis. This means that a separate ZA-Derivative form needs to be set up per account number.
Authorisation is required from only one client signer

Instructions:

Nedbank Capital South Africa Form Setup Instructions

Depending on how information can be extracted from the bank systems, a form can be set up in 2 ways:

Individual account basis
The bank can only extract form details on an individual account basis. Auditors will therefore need to set up each account number as a separate form of the form type.
Entity wide basis
The bank can extract form details on an entity wide basis. Auditors can therefore send a single form of the form type using a main account number. As information is supplied on an entity wide basis all other account numbers do NOT need to be supplied.

Form Type	Form Description	Setup Instructions	Accepted Accounts
Escrow/Trust Account	Provides information on balances, Interest, collateral/security/facilities. An asset account is typically a current; cheque; deposit; saving; or investment etc.	Entity wide basis Only one Escrow/Trust account should be loaded per entity. Note: Account numbers should start with 037881 for Call Accounts and 057831 for Term Loan Accounts.	Term Loan Call
Click here for a detailed explanation of the Escrow/Trust Account Form
ZA - Derivatives	Provides information on foreign exchange contracts and other derivative positions etc. Note: The ZA-Derivatives form needs to be sent per product type for either Nedbank Capital, Nedbank Corporate or Nedbank Business Banking. Each form sent for a specific product type must include each trade, forex or reference number seperately.	Individual account basis A separate ZA-Derivatives form needs to be set up as follows: FEC Auditors need to specify the type of product being FEC in the account name field and a current account number in the account number field. Other Derivative Products Auditors need to specify the type of product, i.e. Interest Rate Swap, Step Rates Deposit, Cross Currency swap etc., in the account name field. Auditors will also need to supply either the trade reference number or forex number in the account number field.	Trade / Reference Number Forex Number Current
Click here for a detailed explanation of the ZA - Derivatives Form

Note:

Derivatives can be confirmed by sending the ZA-Derivative form to Nedbank Capital. These forms will need to be set up on a individual account basis. This means that a separate ZA-Derivative form needs to be set up per account number.
Authorisation is required from only one client signer.
Nedbank has taken a decision not to provide auditors with the password. You will need to contact the client and ask for the password that they use to open all bank statements from Nedbank. Should the client not recall the password, they will need to provide you with a letter that you can share with Nedbank for them to divulge the password.

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