NADEO tracking

[Dave A]

What service offering to whom? According to this blurb from Standard, its a service offered to their clients to control their own collections. So its not a system used by the bank itself?

Oh, it's clearly a debit order management system for creditors to get money from their debtors. It just seems to come with a few new tricks.

[ians]

It is a very simple system used by motor finance corporation (MFC) which will not run until you deposit enough money to run the debt, no money no debit, as soon as I deposited money into that account which had the NAEDO tracker monitoring my account probably already from the day we made arrangements to pay via EFT. I believe that at anytime as soon as there was enough money, even before the arrangement day the debt would have run. I deposited money into the account and within minutes an sms indicated that a debit had run. Lessons learnt and at least I know from this day on never to trust what is agreed be it a recorded telephone conversation or an email to back it up.

[Marq]

Dear Sir:
I am writing to thank you for bouncing my cheque with which I endeavored to pay my plumber last month.
By my calculations, three nanoseconds must have elapsed between his presenting the check and the arrival in my account of the funds needed to honour it..
I refer, of course, to the automatic monthly deposit of my entire pension, an arrangement which, I admit, has been in place for only eight years.
You are to be commended for seizing that brief window of opportunity, and also for debiting my account R30 by way of penalty for the inconvenience caused to your bank.
My thankfulness springs from the manner in which this incident has caused me to rethink my errant financial ways.
I noticed that whereas I personally answer your telephone calls and letters, --- when I try to contact you, I am confronted by the impersonal, overcharging, pre-recorded, faceless entity which your bank has become
From now on, I, like you, choose only to deal with a flesh-and-blood person.
My mortgage and loan repayments will therefore and hereafter no longer be automatic, but will arrive at your bank, by cheque, addressed personally and confidentially to an employee at your bank whom you must nominate.
Be aware that it is an OFFENCE under the Postal Act for any other person to open such an envelope.
Please find attached an Application Contact which I require your chosen employee to complete.
I am sorry it runs to eight pages, but in order that I know as much about him or her as your bank knows about me, there is no alternative.
Please note that all copies of his or her medical history must be countersigned by a Notary Public, and the mandatory details of his/her financial situation (income, debts, assets and liabilities) must be accompanied by documented proof.
In due course, at MY convenience, I will issue your employee with a PIN number which he/she must quote in dealings with me.
I regret that it cannot be shorter than 28 digits but, again, I have modelled it on the number of button presses required of me to access my account balance on your phone bank service.
As they say, imitation is the sincerest form of flattery.
Let me level the playing field even further.
When you call me, press buttons as follows:
IMMEDIATELY AFTER DIALLING, PRESS THE STAR (*) BUTTON FOR ENGLISH
#1. To make an appointment to see me
#2. To query a missing payment.
#3. To transfer the call to my living room in case I am there.
#4. To transfer the call to my bedroom in case I am sleeping.
#5. To transfer the call to my toilet in case I am attending to nature.
#6. To transfer the call to my mobile phone if I am not at home.
#7. To leave a message on my computer, a password to access my computer is required. Password will be communicated to you at a later date to that Authorised Contact mentioned earlier.
#8. To return to the main menu and to listen to options 1 through 7 again
#9. To make a general complaint or inquiry. The contact will then be put on hold, pending the attention of my automated answering service.
#10. This is a second reminder to press* for English.
While this may, on occasion, involve a lengthy wait, uplifting music will play for the duration of the call.
Regrettably, but again following your example, I must also levy an establishment fee to cover the setting up of this new arrangement.
May I wish you a happy, if ever so slightly less prosperous New Year
Your Humble Client
And remember: Don't make old people mad.
We don't like being old in the first place, so it doesn't take much to upset us