Ombudsman for Banking Services (OBS) offers useful information to banking clients.
EFT Transfer Delays
When making an a payment or transfer from your bank account
to an account held at another bank electronically, you may notice that your account is immediately debited with the money but it
sometimes only appears on the beneficiary account a few days later. Bank customers often inquire whether the banks are not
profiting from this delay. Read more on this topic here.
Internet Banking Fraud (Updated)
Many bank clients successfully use electronic banking facilities such as internet banking but as with any other type of banking
facility, they are also exposed to various internet banking scams and fraud. The purpose of this note is to describe the various
types of scams of which we are aware and how we would approach a complaint of this nature. Read more on this topic here.
Bank robberies/safety deposit box theft
Bank robberies and related violent crime are unfortunately a common occurrence in South Africa. Many bank
customers are of the view that banks are responsible for any money stolen from them during a bank robbery and bank customers
often hold banks responsible for robberies which occur directly after they have left the bank. Read more on this topic here.
Home Loan Monthly Service Fees
We have been receiving numerous complaints regarding the increase in monthly service fees on bond accounts. Read more on this topic here.
Old savings/investment account claims
We regularly receive complaints from bank customers who discover old savings books or bank investment account certificates and
want their bank to prove that the money was paid out to them. Read more on this topic here.
The banks' practice of deducting money from a client's account to pay another account that is in arrears affects many banking
customers. This process is based on an old legal principle known as set-off. Read more on this topic here.
In line with the practice of other financial ombudsman organisations internationally, our office does not have jurisdiction over
complaints about a bank's general interest rate policy or fees and charges policy. We can only deal with a complaint regarding
bank charges where the bank has charged you more than its set fee or it has charged you a fee in excess of a limit set down by
law. Read more on this topic here.
We often receive applications and inquiries from the public relating to mortgage bonds. This information note seeks to clarify
certain aspects of mortgage bonds based on the most common complaints we receive. Read more on this topic here.
We often receive applications and inquiries from the public relating to vehicle finance. A
Consumer Information Note has been published to offer guidelines. The purpose of the document is to provide you with practical
information based on our experience. Read more on this topic here.
The Office of the Banking Ombudsman often receives applications and inquiries from the public relating to financial problems.
The nature of the complaint is generally a request that we assist them in some way due to the fact that they are unable to repay
their debts to the bank. Read more on this topic here.
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