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
It’s possible that all the games will take place in Nelspruit, says IOL sports editor John Goliath.Read More
Thabane Zulu (former DG, Human Settlements) reluctantly testified before the Zondo commission on Thursday, says eNCA’s Erin Bates.Read More
'Mr Eazi' launched the Africa Music Fund to support the continent's creative talent. Bruce Whitfield interviews Lee Kasumba.Read More
Justin Chadwick (Citrus Growers' Association) says it's all thanks to the perceived immune-boosting attraction of Vitamin C.Read More
Bruce Whitfield interviews Whitey Basson, who believes it's just not good enough for govt to say ban will be lifted but not when.Read More
Bruce Whitfield talks to MTN CFO Ralph Mupita about the reasons for the move and the company's huge profit increase.Read More
"It’s not rational to allow packed taxis, but not a glass of wine in a controlled environment," says Francois Rossouw.Read More
Samsung's latest offering, the Galaxy Note20 smartphone, goes on sale in South Africa on 21 August as Kieno Kammies finds out...Read More
"If I was President Cyril Ramaphosa, I would take these suggestions seriously," says the UDM leader Bantu Holomisa.Read More
Marc Lubner on the NGO's programmes for young South Africans and how working with Nelson Mandela inspired his life's work.Read More