The below guide highlights Nedbank Corporate South Africa's specific instructions on accepted form types and how to setup the different form types for relevant bank accounts.
Nedbank Corporate South Africa Clients
Nedbank Corporate South Africa clients have turnover of over R700 million.
Nedbank South Africa Departments Not Available on Confirmation.com
Nedbank Corporate, Nedbank Capital 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 retail clients including small business services with a turnover under R400K. | Send to client Nedbank RM |
| Nedbank Commercial | 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 98. 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 |
| Swaziland accounts | Longer with 11 digits | DSimelane@nedbank.co.sz |
| Namibia accounts | Longer with 11 digits | JamesDA@Nedbank.com.na |
| Lesotho | The digits differ as per the product. | TShelile@nedbank.co.ls |
| Rental discounting | Account starts with 34… | NedfleetPayments@Nedbank.co.za |
Nedbank South Africa Accounts
| Account Name | Account Digits | Account Structure |
|---|
| Current | Consist of 10 digits | 1XXXXXXXXX (Starts with a 1) |
| Call | Consist of 12 digits + 6 Investor numbers | 037881XXXXXX - YYYYYY (Starts with 037881) |
| Overnight/Short Term Loan | Consist of 12 digits + 6 Investor numbers | 057831XXXXXX - YYYYYY (Starts with 057831) |
| CFC | Consist of 10 digits | 7XXXXXXXXX (Starts with a 7) |
Instructions:
Nedbank Corporate 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 |
|---|
ZA -
Asset |
Provides information on balances, Interest, collateral/security/facilities.
Note: The bank will provide overdraft information on the ZA - Asset form.
An asset account is typically a current; cheque; deposit; saving; or investment etc.
NB: All treasury accounts (i.e., Overnight/Call accounts) starting with 057831 & 037881 and accounts beginning with NDN should be sent to Nedbank Capital.
| Individual account basis
A separate ZA-Asset form needs to be set up per account number. |
- Current account/s
- CFC account/s
- Investment account/s
|
| | Click here for a detailed explanation of the ZA - Asset Form |
| ZA - Contingent Liabilities & Guarantees | Provides information on written guarantees and other contingent liabilities. | Entity wide basis
Only need to set-up one form per entity, with the main account number. |
- One Current account
- Guarantee reference number
|
| | Click here for a detailed explanation of the ZA - Contingent Liabilities & Guarantees Form |
| ZA - Signatories | Provides a list of authorised signatories on the client account and documentation with regards to the power of attorney.
Only current accounts are to be submitted via Confirmation.com.
Note: The Account name section is a mandatory field that needs to be filled in, failure to do so, it will lead to a denied request.
For CFC accounts - Please check which current account the CFC is linked to and request mandates on current account
Follow-ups can be directed to CCSadmin@Nedbank.co.za. | Individual account basis
A separate ZA - Signatories form needs to be set up per account number. |
|
| | Click here for a detailed explanation of the ZA - Signatories Form |
ZA -
Letter of Credit | This is not limited to only letter of credit, it can apply to other products such as guarantees. | Entity wide basis
Only need to set up one form, with a main account number. |
- One Current account
- LC reference number
|
| | Click here for a detailed explanation of the ZA - Letter of Credit Form |
ZA -
Cash Management System | Provides the list of linked accounts, in a system, at a financial institution where the balances are swept to a main account to accrue a higher interest return.
Note: Account Balances are not provided; for balances use ZA - Asset / ZA - Liability form. | Entity wide basis
Only need to set up one form, with a main account number. |
|
| | Click here for a detailed explanation of the ZA - Cash Management System 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.
- The Account name section is a mandatory fields that needs to be filled in, failure to do so, it will lead to a denied request.
- All treasury accounts should be sent directly to Nedbank capital (i.e., Overnight/Call accounts & accounts that starts with NDN).
Rate this article:
|vote=None|
Processing...
(Popularity = 25/100, Rating = 3.0/5)
Related Articles
Nedbank Corporate Banking - Loans and Other Liabilities Audit Confirmation Instructions
ABSA Corporate Bank South Africa Audit Confirmation Instructions
Nedbank Business Banking - Loans and Other Liabilities Audit Confirmation Instructions
RMB Investment and Corporate Banking South Africa Audit Confirmation Instructions
view all...
Search Results
Guide ZA-Cash Management Form
Confirmation Billing Guide (Effective 1 Nov 2024)
Guide ZA-Liability Form
Easy Add-ons User Guide
Guide ZA-Signatories Form
view all...