Can The bank Reposses My Assets That I Acquired Before Borrowing Their Money That Am Failing To Pay Back?


 NDBS Reader

Posted: October 10 2013

  NDBS Answer:


The bank will attach anything of value should you fail to pay back the money since you might not use the money to buy immovable assets.  Whether you bought it 20 years ago once they get default judgment against you they will look for anything in your name.


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  How long does it take for money transferred via internet (EFT) from one bank to another to show in one’s account?

NDBS Reader

Posted: October 08 2013

  NDBS Answer:

It takes between 12 to 48 hours depending on what time the transaction took place, if money was transferred after before 12pm it might appear before midnight.  However all depend on the banks and the person sending money can request immediate clearance which comes with charges.  If it is transaction to same bank it shows immediately.

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  What Is Remittance In Business?

NDBS Reader

Posted: October 06 2013

  NDBS Answer:

Remittance is the inflow of money from one country to another sent by migrants working outside the country whereby they send money to their families and such transactions contribute to the economic growth as cash is provided to spend in the country.

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  Do Law Firms Provide PRO BONO Services To Entrepreneurs?

Lindiwe Sthole, South Africa

Posted: October 04 2013

I want to know if Law firms to provide Pro Bono services to Entrepreneurs.

  NDBS Answer:

Yes they do depending on their law practice prerequisite.  You just need to get a law firm that deals with company laws and check if they provide free services but the answer is yes there are Law firms that provide free services.

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  Money Is Taken From My Account Without My Authorisation, What Must I Do?

Thomas Radebe, South Africa

Posted: October 03 2013

My money is taken by a company that I don't know about.  What must I do?

  NDBS Answer:

Whether you authorized those who took money or not you have the right to stop the transaction.  You need to notify the bank as soon as you notice that money has been taken, Bank takes 7 days before they can pay the debit order to those who took the money and if the request is made before 7 day period the money will be reversed to your account.  Always check your account as a debit order less than R100 may not report on your phone.



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