Nedbank SICU Audit Confirmation Instructions

Published: 22/12/2023

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

Nedbank SICU (Sovereign and Financial Institutions Credit Unit) South Africa Clients

Nedbank SICU generally service clients that are banks.

Nedbank South Africa Departments Not Available on Confirmation.com

Nedbank Capital, Nedbank Corporate, Nedbank Business Banking and Nedbank SICU 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 SICU 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)
Vostro	Consist of 10 digitss	1986XXXXXX (Starts with 1986)
CFC	Consist of 10 digits	7XXXXXXXXX (Starts with a 7)

Note: Authorisation is required from only one client signer

Instructions:

Nedbank SICU's 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.	Individual account basis A separate ZA-Asset form needs to be set up per account number.	Current Call CFC Vostro
	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, with a main account number.	Current
	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.	Entity wide basis Only need to set up one form, with a main account number.	Current
	Click here for a detailed explanation of the ZA - Signatories Form
ZA - Letter of Credit	Asks questions in relation to a letter issued by a bank to another bank to serve as a guarantee for payments made to a specified person under specified conditions.	Entity wide basis Only need to set up one form, with a main account number.	Current
	Click here for a detailed explanation of the ZA - Letter of Credit Form

Note:

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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