Opposed To Bank Withdrawal Limit

AFTER just having survived the shock of Nedbank’s changeover to their Globus system, we left Namibia for a few months.

On returning, one of the first errands is usually a trip to the ATM to draw cash. After several failed attempts I went inside the bank and was informed that the withdrawal limit had been lowered from N$3 000 to N$1 500 “for security reasons”.Again, like their previous changing of account numbers, etc – without notifying their clients.I asked for my limit to be raised back to N$3 000, but was informed that the system would not allow it.I offered to sign an exoneration of the bank’s responsibility – as I had done before – but this did not seem to be possible any more.An e-mail to my friendly banking lady was answered to the effect that they were trying to get the limit raised by their head office.Much as it warms my heart to know that Nedbank is concerned about my security, (or is it about theirs?), I would not like to know the outcome if I were to be robbed of N$3 000 and claimed N$1 500 back from my bank on the grounds that their withdrawal limit was too high.I suspect that the real reason behind lowering the withdrawal limit is the transaction fee of N$2.65.In other words, the bank collects N$2.65 more if I have to withdraw N$1 500 twice instead of N$3 000 once.Siegfried Eckleben Via e-mailAfter several failed attempts I went inside the bank and was informed that the withdrawal limit had been lowered from N$3 000 to N$1 500 “for security reasons”.Again, like their previous changing of account numbers, etc – without notifying their clients.I asked for my limit to be raised back to N$3 000, but was informed that the system would not allow it.I offered to sign an exoneration of the bank’s responsibility – as I had done before – but this did not seem to be possible any more.An e-mail to my friendly banking lady was answered to the effect that they were trying to get the limit raised by their head office.Much as it warms my heart to know that Nedbank is concerned about my security, (or is it about theirs?), I would not like to know the outcome if I were to be robbed of N$3 000 and claimed N$1 500 back from my bank on the grounds that their withdrawal limit was too high.I suspect that the real reason behind lowering the withdrawal limit is the transaction fee of N$2.65.In other words, the bank collects N$2.65 more if I have to withdraw N$1 500 twice instead of N$3 000 once.Siegfried Eckleben Via e-mail