Streaming issues? Report here
Joanne Joseph 702 Gradients Joanne Joseph 702 Gradients
Afternoon Drive with Joanne Joseph
15:00 - 18:00
volume_up
volume_mute

Up Next: The Money Show with Bruce Whitfield
See full line-up
Afternoon Drive with Joanne Joseph
15:00 - 18:00
Home
arrow_forward
Business

Absa is the most complained about bank in South Africa

15 May 2019 8:15 PM
Tags:
Fraud
Banking
Nedbank
The Money Show
FNB
ATM
Standard Bank
Credit card fraud
Capitec Bank
Bruce Whitfield
Absa
Bank
Banking ombudsman
Internet banking scam
Internet banking
ATM fraud
Wendy Knowler
Banking ombud
credit card
consumer journalist
internet banking fraud

Capitec Bank, however, is keeping its customers decidedly happy. Bruce Whitfield interviews consumer journalist Wendy Knowler.
Picture: Supplied

People love to hate their banks…

Wendy Knowler, consumer journalist

Absa was the most complained about bank in South Africa in 2018, according to the Banking Ombud’s annual report.

The “Big Five” banks ranked from worst to best:

  • Absa (1776 complaints received)

  • FNB (1560 complaints received)

  • Nedbank (1265 complaints received)

  • Standard Bank (1203 complaints received)

  • Capitec Bank (1001 complaints received)

Internet banking fraud was the top class of complaint, followed by ATM fraud and credit card fraud.

Together they accounted for 48% of complaints, the report indicated.

On average, the Banking Ombud ruled in favour of clients in 18% of complaints.

The Money Show’s Bruce Whitfield interviewed consumer journalist Wendy Knowler.

Listen to the interview in the audio below.

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:


15 May 2019 8:15 PM
Tags:
Fraud
Banking
Nedbank
The Money Show
FNB
ATM
Standard Bank
Credit card fraud
Capitec Bank
Bruce Whitfield
Absa
Bank
Banking ombudsman
Internet banking scam
Internet banking
ATM fraud
Wendy Knowler
Banking ombud
credit card
consumer journalist
internet banking fraud

Recommended

More from Business

Darkness, no electricity, load shedding

Loadshedding to be implemented from noon today - Eskom COO

10 July 2020 11:03 AM

More generating units have broken down, resulting in the utility battling to meet the high demand for electricity.

Share this:
Read More arrow_forward

wifi-internet-data-broadband-cell-phone-mobile-device-network-providers-123rf

Small Business Focus: How to get your marketing right in a shrinking media world

9 July 2020 8:38 PM

Pavlo Phitidis says focus must be on the customer group you are trying to reach. You've got to get your demographics right.

Share this:
Read More arrow_forward

broken-heart-broke-money-coins-finances-love-relationship-divorce-break-up-123rf

Personal Finance Feature: Julia - The super saver

9 July 2020 8:02 PM

Though leaving corporate to venture into tourism has been a big test of resilience, she is still happy with her decision.

Share this:
Read More arrow_forward

180710sactwu-strikejpg

SA is becoming a country of old people. Median age has risen from 23 to 27

9 July 2020 7:30 PM

Lumkile Mondi says skills and knowledge that have driven a lot of the growth in the past are going to be undermined.

Share this:
Read More arrow_forward

190430-joburg-soca-edjpg

City of Joburg tables R68.1bn budget for 2020/2021

9 July 2020 5:25 PM

This follows several delays which saw the Gauteng government throw the book at the city’s council threatening to place it under administration.

Share this:
Read More arrow_forward

Woman saving money piggy bank mask 123rf 123rfbusiness 123rflifestyle

Supersaver Julia has changed lives, and she can change yours! – Bruce Whitfield

9 July 2020 3:00 PM

Need the inspiration to save? The Money Show’s Bruce Whitfield interviews “Supersaver Julia” at around 7:15 pm tonight.

Share this:
Read More arrow_forward

200106-daniel-mminele-edjpg

Daniel Mminele on his shapeshifting career

8 July 2020 8:43 PM

Absa CEO Daniel Mminele says they had to transition very quickly within a very space of time into operating in a new normal.

Share this:
Read More arrow_forward

171227prieska-arrestjpg

Payment methods ... the good, the bad and the ugly

8 July 2020 8:14 PM

Wendy Knowler says it is expensive to issue or bank a cheque. For example, to deposit a cheque can cost well over R100.

Share this:
Read More arrow_forward

123rf A pile of two hundred rand notes, South African currency money

For the first time in SA there is a specific law on how banks treat customers

8 July 2020 7:42 PM

Caroline Da Silva of the FSCA says they will look into patterns of complaints to see how to change a bank's behaviour.

Share this:
Read More arrow_forward

Flag of Hong Kong

When business, technology and politics collide

8 July 2020 7:15 PM

The most recent example is China’s new security law introduced into Hong Kong.

Share this:
Read More arrow_forward