Consumer Focus: How to deal with fraudulent debit orders and get your money back

South Africa's major banks have been receiving complaints from their customers complaining of amounts of just under R100 coming off of their accounts on a monthly basis, without consent.

Do you know which steps to take if you were to find yourself in situation where money is going out of your account fraudulently.

We spoke to Advocate Clive Pillay, Ombudsman for Banking Services about what your rights and recourse in these circumstances.

According to Pillay a debit order is an agreement between a customer and a service provider. In that agreement, the bank customer authorises the service provider to take money out of your account each and every month for services rendered.

What to do?

Pillay says that consumers have the right to dispute any deduction from their accounts that is unauthorised. If unsuccessful, the consumer can approach the bank to dispute the debit order and request a reversal.

Advocate Pillay encourages consumers to regularly check their bank statements in order to spot this fraudulent activities.

Listen to the full conversation on the Redi Thlabi Show:


Recommended

by THE NEWSROOM
Read More
Their way or the highway? 7 annoying habits many drivers are guilty of

Their way or the highway? 7 annoying habits many drivers are guilty of

Passengers often endure all sorts of irritations from drivers. Callers share their biggest gripes about folks behind the wheel.

[WATCH] Eusebius commends ANC's Carrim for his honesty about VAT reservations

[WATCH] Eusebius commends ANC's Carrim for his honesty about VAT reservations

ANC's Yunus Carim says an increase on VAT was not desirable and it is regressive.

Looking for a new read? Four fiction books that come highly recommended

Looking for a new read? Four fiction books that come highly recommended

Editor Kate Sidley and writer Georgina Guedes review enticing novels with twists and turns that'll have you running the bookstore.

Fault line between DA and EFF: To hike corporate tax or not  #Budget2018

Fault line between DA and EFF: To hike corporate tax or not #Budget2018

DA says corporate tax should be reduced to stimulate economy while the EFF argues that corporates should be taxed more.

Here's how Prasa was captured

Here's how Prasa was captured

Unite Behind Metrorail Monitoring Project shares its findings into the capture of Prasa.

Debt collectors not permitted to take your items

Debt collectors not permitted to take your items

Following reports of vehicle tracking by Wesbank, the Council for Debt Collectors has put consumers at ease.

Popular articles
Discovery CEO (and founder) Adrian Gore bares his soul about money

Discovery CEO (and founder) Adrian Gore bares his soul about money

The Money Show’s Bruce Whitfield interviews Gore about his attitude to money (hopes and fears, successes and failures, etc.).

"Duduzane Zuma is the Gupta family's greatest asset"

"Duduzane Zuma is the Gupta family's greatest asset"

Sunday Times journo Thanduxolo Jika who broke the front page story about the Gupta family emails vouches for their authenticity.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

'My daughter bought Spur shares when she was 10 years old' - Dr Adrian Saville

'My daughter bought Spur shares when she was 10 years old' - Dr Adrian Saville

What does Citadel’s famed disciple of contrarian, deep-value investing Dr Adrian Saville hope for (and fear) about money?

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?