New year rewards for all new Nedbank clients

Nedbank has launched a campaign that will see the bank pay clients R750 when they open a new current account - a first in the South African banking industry.

With its newly launched ‘Fresh Start’ campaign, Nedbank is literally paying consumers to bank with it. The reward will be paid into qualifying Nedbank current accounts opened between now and the end of March 2008. Qualifying Nedbank accounts include the Ordinary Current Account, Everyday Current Account, N-5000 Investment Account and the Optimum Current Account.

”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”, says Saks Ntombela, managing director Transactional & Investment Products at Nedbank.

For some, the money could be used to offset service charges and bank fees, which is consistent with Nedbank’s strategy to make banking more affordable. “On average most current account holders pay R150 a month in bank charges, so R750 means free banking for five months,” says Ntombela.

Consumers who would like to take advantage of the offer can visit their nearest Nedbank branch to open an account. To qualify, new current account holders need to sms the word ‘Fresh’ and their account number to 31673 and have their salary deposited into the account before 31 May 2008.

Participants will be entered automatically into a lucky draw that will culminate in a six week Fresh Start game show on SABC 3. The game show will be aired on SABC 3 at 21h27 every Tuesday from 6 February until 12 March 2008, with lucky contestants standing the chance of winning R100 000 worth of prizes each week.

“As the campaign name suggests, participants can look forward to a fresh start by joining the growing number of consumers that are switching to Nedbank,” says Ntombela.

Nedbank is the only bank that has not increased its retail pricing for individuals since July 2004. In July 2007, Nedbank reduced banking fees for its retail clients – for the second year in a row. The fee reductions and the roll out of new branches and ATM’s and the ‘Ask Once’ service initiative are paying off as more people are changing their banking relationship to Nedbank.