We had a bad experience recently with the National Australia Bank, the bank with the unfortunate acronym of NAB.
Juliet and I are reviewing our superannuation strategy and our financial adviser is setting up new accounts. Juliet’s super was dormant in a retirement savings account with NAB.
We’d lost the relevant paperwork so Juliet visited the bank to obtain the details and recover the money.
The woman who served her mistook our little-used joint savings account for the retirement savings account, closed it and gave Juliet the balance of $116.
I couldn’t believe there was so little money in Juliet’s superannuation and was ranting about how it must have all been consumed in fees when NAB lady rang and said she’d made a mistake.
According to her the super account thankfully did exist and held about $3000 but was lost. Needless to say there were numerous minions at the bank working in a frenzied manner to find it (we’re still waiting).
Meanwhile, NAB lady asked Juliet to drive back into town and re-deposit the $116 in our joint savings account. Hardly worth the trouble, except we have an investment account linked to that account.
That done, NAB lady rings again to say she was unable to reactivate the account and had to create a new one. That means my linked investment account with another bank is no longer linked and I’ll have to go into that bank to change the details.
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