FAQ

An interest-free period is the number of days you won’t be charged interest for your credit card spend. For example, if you get 55 days of interest-free credit and you buy items on 1 March, you won’t be charged interest for the amount spent until 24 April. This gives you the chance to pay back your card without any interest. Interest-free credit applies to eligible spend only.

Eligible spend means all local and international purchases except the following:

• Cash drawn from ATMs
• Casino chip purchases
• Petrol purchases
• Finance or other card charges
• Fees and taxes from us or the government
• Travellers’ cheques or other negotiable instruments
• Garage card transactions
• Budget account instalments and their interest
• Insurance premiums
• Electronic funds transfers

You can apply for a credit limit increase on the Money app, or by calling 0860 555 111. 

Credit limit changes can be requested at any time, but if you need an increase, we will do an affordability check first.

Yes. To cancel your credit card call us on 0860 555 111.

Once you’ve closed your credit card, you will not be able to reactivate it. You’ll need to apply for a new credit card.

If you see a charge on your credit card that shouldn’t be there, you can dispute it by calling 0860 555 111 or visiting your nearest Nedbank branch.

Yes, a cash deposit will be reflected on your credit card account as soon as it is deposited. However, an electronic funds transfer (EFT) from a different bank can take up to 3 working days to reflect.

You can earn interest on positive balances on your credit card.

Yes, you can withdraw cash from your credit card at any ATM. Keep in mind that the 55-day interest-free period does not apply to cash withdrawals and you’ll be charged interest from day 1 on this transaction.

Yes. If you haven’t paid off your purchases within the 55-day interest-free period, you will be charged interest on the outstanding amount.

A CVV or CSC number is the 3 digit number at the back of your Mastercard or Visa card and the 4 digit number on the front of your American Express card.

You can see all our interest rates on your monthly credit card statement.

This refers to how you pay back what you’ve spent on your credit card.

You need to pay back straight transactions within the interest-free period to avoid interest charges.

You pay budget transactions back in equal instalments over a period you choose, for example six months.

A credit card allows you to borrow money from the bank that you can pay off over time at your personal interest rate. A debit card is a card that deducts money straight from your bank account.

A store card can only be used at a specific store or group of stores. A credit card can be used at any place that accepts credit cards.

A credit card facility is the amount of money the bank agreed to make available to you on your credit card account.

Tap and go is when you can pay by simply tapping your card on a card machine. You don’t need to enter your PIN for tap-and-go purchases under R500.

You can transfer money directly into your credit card account from another account. You can do this via an electronic funds transfer (EFT) or a transfer from any other Nedbank account.

You will be charged interest on the outstanding balance. It is advisable that you inform the bank when you are unable to pay the minimum monthly instalment so that you can work out a payment plan.

You’ll need to contact the bank and let them know so that you can work out a payment plan.

There is no fixed period in which you need to pay back your credit card, as long as you make the minimum payment of only 2,5% every month on your outstanding balance.

We look at how much you earn every month and your monthly expenses. 

These include food, rent and levies, bond repayments and rates and taxes, insurance and medical aid premiums, home security, transport, education, airtime and data contracts, entertainment, clothing accounts and any other debt or payment obligations like stop orders.

Interest rates are determined on an individual basis. Factors such as income, credit history and government regulations are considered to determine the best interest rate for you.

Yes, a credit card can positively affect your credit score, as long as you borrow responsibly and make your repayments on time.

Your contactless-enabled card is as safe as your regular contact card. Just make sure that your contactless-enabled card never leaves your hands when you make payments. 

The teller at a retail store will also need to enable a contactless payment on the merchant side before you tap. This means there is no room for accidental contactless payments from your card. 

A unique security code is generated with each contactless transaction and cannot be reused to perform another transaction with that card or device.

We follow the latest card security protocols to make sure your account is safe. We also provide information on how to protect yourself. See safety tips and measures

You need to block your card on the Money app and call Nedbank immediately on 0800 110 929.

Block your card on the Money app and call 0800 110 929 or 011 710 4330 to let us know.

Yes. Just let us know your travel dates and where you’ll be travelling before you leave. You can do this on the Money app, or you can call us on 0860 555 111.

There is a 2% currency conversion fee.

You will get basic travel insurance at no additional cost to you when you buy your flight ticket using your credit card. This depends on which credit card you have, so make sure to check what you qualify for.  

You can also request top-up insurance by calling 0860 555 111.

Travel insurance works differently for different cards. To see exactly what your credit card offers you go to our website, select the card you have and read our travel policy document.

Access to airport lounges depends on your card type. You can find out which lounges you can visit in our airport lounges terms and conditions.

A contactless card will have a contactless-payments symbol (or a sideways Wi-Fi symbol) on the front or back of the card. A contactless enabled card allows you to make contactless payments by tapping your card against a contactless payment machine to pay for goods at shops.

• You make a contactless payment when you tap your contactless card against a contactless-enabled payment machine to pay for low value payments of up to R500 with no PIN required. 
• Contactless payments above R500 will require a PIN to pay.
• Contactless payment machines are identified by the same contactless symbol (sideways Wi-Fi symbol) that appears on your card.

On payment machines where you see the contactless symbol (the sideways Wi-Fi symbol). These payment machines will be found in fast-food restaurants, petrol stations, convenience stores, pharmacies, stadiums and other retail shops. If the shop doesn’t have a contactless-enabled payment machine, then the card must be inserted into the payment machine and you must enter your PIN to finalise payment.

Contactless functionality on Visa and Mastercard can be disabled on the Money app. Or you can phone us on 0860 555 111, or visit your nearest Nedbank branch, to enable or disable your card. 

On Amex cards, contactless functionality can’t be disabled. 

On the Money app, or by calling us or coming in to your nearest branch, you can ask to have all contactless payments (for any amount) to require a PIN.

R500 is the local contactless limit in South Africa, and is subject to change. In-country limits apply to all foreign contactless transactions.

Contactless enabled cards are just like cash. A third party can process contactless payments of up to R500 with no PIN required. 

If your contactless card is used without a PIN, you won’t be able to dispute the transaction and will be held accountable, unless you’ve reported your card as lost or stolen before the contactless payment was made.

Contactless payments save you time, and mean you don’t need to carry cash to pay for what you want. It’s perfect for when you’re in a hurry, like at the supermarket, fast-food restaurants or busy shopping zones. You don’t need to enter a PIN or sign for what you buy. Just tap, pay and go.

What you pay for using contactless cards will be displayed on your statement just like any other purchase you make with your card.

You can use your Visa or MasterCard contactless cards at any contactless-enabled payment machine.

No. The cashier must first enter the purchase amount for approval and your card must be close to the card reader (within 2cm) to make a payment. Card payment machines can only process a single payment at a time.

Retailers must provide you with a receipt for what you’ve bought.