Absa is the most complained about bank in South Africa
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.
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:
This article first appeared on 702 : Absa is the most complained about bank in South Africa
An economist expects China growth at 9.5%, US money-printing, rising metal prices and trade- and current-account surpluses in SA.Read More
Bruce Whitfield asks personal finance advisor Warren Ingram to explain in detail the new laws affecting provident funds.Read More
Germany has squandered its early success in restricting Covid-19, laments Deutsche Welle Correspondent Chelsey Dulaney.Read More
A new harvest is imminent and there's no more space for unsold wine. We have the highest stock level ever - Vinpro's Rico BassonRead More
A new scam is surfacing on Facebook and WhatsApp groups. The masterminds are even using the FSP number of a legitimate company.Read More
Loadshedding is another blow to the struggling restaurant industry. We need more relief says Grace Harding (Restaurant Collective)Read More
Richard Brasher will be replaced by Netherlands-born Pieter Boone in April. A retail expert evaluates Brasher's performance.Read More
Business and labour are pressing South Africa's government to introduce a new round of UIF Ters relief to mitigate the impact of the Level 3 lockdown.Read More
Astronomers in South Africa are extremely unhappy about Elon Musk’s plans, says Jan Vermeulen of MyBroadband.co.za.Read More
It's a fact - minibus taxis are essential for the functioning of the economy. Lester Kiewit interviews Alpheus Mlalazi (NTA).Read More