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.

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

Listen to the interview in the audio below.

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This article first appeared on 702 : Absa is the most complained about bank in South Africa


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