Bank
Save & Invest
Borrow
Insure
Plan
Learn
Contact us
Get in touch
Find us
Manage your money
Accounts

Bank your way with low fees and extra benefits.
Credit cards

Enjoy 55 days’ interest free credit and other benefits.
Greenbacks

More rewards at every level as you spend and invest.
Digital banking

Bank on any device, from anywhere at anytime.
Switch to Nedbank

Move your salary and debit orders over easily.
Fraud awareness

Protect yourself against the latest schemes and scams.
Forex

For all your travel, international payments, and foreign currency investment needs.

Explore Bank
Grow your money
Accounts

Great interest rates and easy access to your money.
Investment services

Local and international wealth management solutions.

Share trading

All-in-one online trading or broker assistance.
Explore Save & Invest
Achieve your goals
Personal loans

Affordable loans and interest rates from R2k to R300k.
Home loans

Buy or build your home with up to 109% financing to cover bond and transfer costs.
Student loans

Nedbank offers full or part-time loans to students.
Overdrafts

Instant access to credit when you need it.
Vehicle finance

Easily apply for MFC vehicle finance in 5 steps.
Solar finance

Secure an affordable energy solution when in need.
Debt assistance

Debt management support when you need it the most.
Explore Borrow
Protect what you love
Life cover

Secure your family’s future with up to R2million.
Funeral cover

Cover for you and your family in the event of death.
Short term insurance

Car, building, house contents, valuables and more.
Credit Life

Bond, credit card, overdraft, loan and car repayments.
Travel insurance

Global travel insurance with 24-hr emergency assist.
Business cover

We have cover for small, medium or large businesses.
Secure investments

Guaranteed income and growth plans for future income.
Explore Insure
Plan your wealth
Financial planning

Achieve your financial goals with expert planning.
Estate, wills & trust services

We’ll help manage your assets, debts and estate planning.
Nedbank Private Wealth

Banking experience with customised solutions and rates.
Speak to a financial adviser

Our experts are ready to assist when you need them.
Explore Plan
Find guidance
Blog

Let our experts guide you on any financial matter.
Explore Learn
Get in touch
Talk to us

We’re here to answer questions and resolve queries.
Find us

Find your nearest branch, ATM and currency exchange.
Explore Contact us
Back
Bank

Accounts

Bank your way with low fees and extra benefits.

Credit cards

Enjoy 55 days’ interest free credit and other benefits.

Greenbacks

More rewards at every level as you spend and invest.

Digital banking

Bank on any device, from anywhere at anytime.

Switch to Nedbank

Move your salary and debit orders over easily.

Fraud awareness

Protect yourself against the latest schemes and scams.

Forex

For all your travel, international payments, and foreign currency investment needs.
Back
Save & Invest

Accounts

Great interest rates and easy access to your money.

Investment services

Local and international wealth management solutions.

Share trading

All-in-one online trading or broker assistance.
Back
Borrow

Personal loans

Affordable loans and interest rates from R2k to R300k.

Home loans

Buy or build your home with up to 109% financing to cover bond and transfer costs.

Student loans

Nedbank offers full or part-time loans to students.

Overdrafts

Instant access to credit when you need it.

Vehicle finance

Easily apply for MFC vehicle finance in 5 steps.

Solar finance

Secure an affordable energy solution when in need.

Debt assistance

Debt management support when you need it the most.
Back
Insure

Life cover

Secure your family’s future with up to R2million.

Funeral cover

Cover for you and your family in the event of death.

Short term insurance

Car, building, house contents, valuables and more.

Credit Life

Bond, credit card, overdraft, loan and car repayments.

Travel insurance

Global travel insurance with 24-hr emergency assist.

Business cover

We have cover for small, medium or large businesses.

Secure investments

Guaranteed income and growth plans for future income.
Back
Plan

Financial planning

Achieve your financial goals with expert planning.

Estate, wills & trust services

We’ll help manage your assets, debts and estate planning.

Nedbank Private Wealth

Banking experience with customised solutions and rates.

Speak to a financial adviser

Our experts are ready to assist when you need them.
Back
Learn

Blog

Let our experts guide you on any financial matter.
Back
Contact us

Talk to us

We’re here to answer questions and resolve queries.

Find us

Find your nearest branch, ATM and currency exchange.
Back
  • Digital banking
  • Switch to Nedbank
  • Fraud awareness
  • Forex
  • Investment services
  • Share trading
  • Loan consolidation
  • Personal loans
  • Home improvement loan
  • Exclusive short-term loan offers
  • Overdrafts
  • Vehicle finance
  • Solar finance
  • Consolidate all your debts into a simple loan | Nedbank
  • Short-term payment relief | Nedbank
  • Take charge and restructure your finances | Nedbank
  • Assisted-sales solutions for homes and vehicles | Nedbank
  • Flexible payment plans for loans and credit | Nedbank
  • Understanding how repo rate works | Nedbank
  • We have payment solutions to get you back on track
  • Individual R10,000
  • Individual R30,000
  • Family Cover
  • Build your own cover
  • Vehicle insurance
  • Building insurance
  • House contents insurance
  • Valuables insurance
  • Alternative energy insurance
  • Legal expenses | Nedbank Insurance
  • Home loan credit life
  • MFC Vehicle Finance Assurance
  • Overdraft Assurance
  • Balance Protection Plan
  • Personal loan Assurance
  • Travel insurance
  • Business cover
  • Guaranteed Growth Income Plan
  • Guaranteed Growth Plan
  • Investment planning
  • Insurance planning
  • Give
  • Retirement planning
  • Will drafting
  • Ensure your estate is managed by an executor | Nedbank
  • Trust services
  • Financial accounting
  • Tax services
  • Leave the admin of your estate to us, and not to your loved ones | Nedbank
  • Nedbank Private Wealth
  • Speak to a financial adviser
  • A financial adviser can help you plan your future
  • Everything you need to know about student loans
  • Talk to us
  • Find us

Family Banking

Terms and conditions

 

1. Definitions

Family Banking is a client value proposition that enables families to create family groups

Family Group is a group of family members

Family Member/s means the Main Member, Spouse and or Child/children under the age of 27 years of the Main Member and who will be nominated by the Main Member to participate in Family Banking, offered by Nedbank

Main Member is defined as the individual who initiated and created the Family Group and must already be a client of Nedbank with a qualifying Transactional Account.

Child/Children is defined as the child/children under the age of 27 years of the Main Member and Spouse.

Spouse of the main member is the partner in terms of a civil or customary union recognised under the laws of South Africa

Rebate means a partial refund of monthly account maintenance fees.

Good Standing means that your Transactional Account should not be overdrawn, or be in arrears, or be in default, or be subject to any legal process with Nedbank

 

2. General

The Terms and Conditions applies to the ‘Family Banking' offer.

 

3. Family Banking Offers

3.1  A Spouse will get a rebate of up to 50% of their monthly account maintenance fee each month, paid into their qualifying Transactional Bank account.

 

4. Qualifying Criteria for Rebates

4.1  The Main Member and Spouse must both be members of the same Family Group

4.2  The Main Member and Spouse must both have one of the following qualifying transactional accounts

  • Savvy Plus
  • Savvy Bundle
  • MiGoals Plus
  • MiGoals Premium
  • Private Pay As You Use
  • Private One Bundle
  • Private Bundle

4.3  The Main member and Spouse’s qualifying transactional accounts must be in good standing

4.4  The Spouse must ensure that a minimum monthly deposit or more is deposited into their Transactional Account every month as follows-

  • R5 000 for Savvy Plus, Savvy Bundle and MiGoals Plus products
  • R15 000 for MiGoals Premium; and
  • R30 000 for Private Pay As You Use, Private One Bundle and Private Bundle products

4.5  The Spouse must be between the ages of 27 and 54 years old

 

5. Qualifying Criteria for Family Banking

5.1  Only Nedbank clients who are 21 years and older on the following transactional products can create a family group:

  • Savvy Bundle
  • Savvy Plus
  • Nedbank Pay As You Use
  • MiGoals Premium
  • MiGoals Plus
  • MiGoals
  • Private Bundle
  • Private One Bundle
  • Private Pay As You Use
  • Young Private Bundle
  • Young Private One Bundle

5.2  The Main Member can only create one Family Group.

5.3  The Main Member must create the Family Group on the Nedbank Money app, Online Banking, Nedbank branch or Nedbank Contact Centre (NCC).

5.4  The Main Member must invite the Spouse and or Child/Children to join the Family Group. A SMS and an In App notification will be sent to the Family Members to accept or decline the invite. The invite expires after 85 days from the date it is sent.

5.5  The Main Member may nominate one Spouse and all their children

5.6  The Main Member can automatically add children under the age of 16 years if the Child’s/Children’s MiGoals bank account is linked to their banking profile.

 

6. Qualifying Criteria for a Spouse

6.1   If the Main Member and the Spouse does not confirm their relationship via the Nedbank Money App and or Online Banking, the Spouse cannot qualify for Family Banking.

 

7. Removing Family Members

7.1  The Main Member can remove any Family Member from the Family Group.

7.2  Once removed, Family Members cannot re-join the Family Group unless they are re-invited or re-added by the Main Member.

 

8. Termination of or Withdrawal from the Family Group

8.1  If the Main Member terminates/closes the Family Group, all Family Members will be automatically removed from the Family Group and no longer receive any benefits.

 

9. Termination of or Withdrawal of the Spousal Rebate

9.1  Should the Main Member and the Spouse divorce, the Spouse will no longer qualify for the Spousal rebate.

9.2  The Main Member and Spouse agree to notify Nedbank should they become divorced.

9.3  If the Main Member and/or Spouse Transactional Accounts are not in Good Standing, the Spouse will cease to qualify for the Spousal rebate.

9.4  If the Main Member no longer holds the qualifying Transactional Account, the Spouse will cease to qualify for the rebate.