The Ombudsman for Banking Services, also referred to as “the OBS”, resolves personal and small business banking complaints, about banking products and services.
South Africa
Joined April 2020
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What happens when you combine four financial services Ombuds into one? You get the National Financial Ombudsman (NFO), and from 1 March 2024, we’re providing free complaint resolution services to all South Africans. You can learn more here: nfosa.co.za/.
A recent case study highlights the responsibility of banks in providing accurate representations as customers rely on these to decide on the way forward.
In this case, a customer noticed that his bank was charging him more interest than was agreed to in his repayment plan after his vehicle was written off.
Read the full case study and final resolution: bit.ly/Deal_Is_A_Deal
The OBSSA provides a free, fair and quick dispute resolution process for bank customers.
We can only accept cases involving banks that are members of the Banking Association of South Africa. Check that your bank is a member before lodging your complaint.
View the full list and contact details here: bit.ly/49g1Hk9
In a recent case study, the complainant made a booking through a travel company, but three weeks before departure the company was liquidated.
Click here to read the full case study and final resolution: bit.ly/3Gz3zb9
Don’t let scams or problems with your bank spoil your holiday fun! Keep these financial travel tips in mind.
Read this recent case study to understand the rules of chargebacks and how they apply to different payment methods: bit.ly/Chargebacks_when_do_t…
Black Friday is popular among shoppers, as well as scammers! Watch the video for our top shopping tips and stay safe this Black Friday.
Reana Steyn joins eNCA News to provide insight on the increase in car repossessions in South Africa.
#OBSSA
PLEASE NOTE that scammers are currently impersonating OBSSA representatives!
A banking customer recently reported that she was contacted by someone claiming to be an OBSSA representative. The false representative claimed that illegal activity had been detected on the customer's accounts and proceeded to give the customer instructions to 'secure' their accounts. However, this was a scam and the victim's accounts were cleared out.
Remember, OBSSA will never contact customers to advise them of fraud taking place on their accounts nor request confidential banking details such as their bank card number, PIN, internet banking passwords or one-time-PINS (OTPs).
In one of our cases, a man tried to cancel a vehicle finance agreement with his bank after complaining that the vehicle was defective but accepting money from the dealership to repair it.
Read the full case study and the resolution here: bit.ly/Case_Study_Buyers_Rem…
#OBSSA
Not happy with our findings?
As the complainant you do not have to accept the suggestions and recommendations made by the Ombudsman and may:
- Continue the case at your own expense at the small claims court, consumer court or a civil court.
- Ask the Ombudsman to issue a binding determination, provided that certain conditions are met.
- Apply to a panel for a review if the determination goes against you, provided that certain conditions are met.
Click here to find out more about the complaints process: bit.ly/3EFSbtf
#OBSSA #BankingComplaints
We are an independent organisation that resolves complaints about banking services and products.
However, there are limits to our jurisdiction. We cannot help with:
- complaints about interest rates or policy issues, unless the interest rate charged is contrary to the National Credit Act (NCA) or the service agreement, or the policy is unfairly applied;
- credit approval;
- altering the terms of loan repayments;
- bank accounts that have been used for criminal activity.
Click here to find out more: bit.ly/3qrXatY
#OBSSA #bankingservices #customercomplaints
A bank reserves the right to exercise its commercial discretion as long as it does not involve unfair discrimination.
This can be seen in a case involving a claim that a bank’s customer loyalty & rewards programme was discriminating against senior citizens.
Read the full case study here: bit.ly/3PG6FQ7
Plan your Money. Plant your Future: Join us for a Free online webinar on Wed 30 Aug 9h30 - 11h00 to find out how you can safeguard your financial future simply by planning your finances today. Register now shorturl.at/gnFK8
#obssa #wealth #financialwellbeing #mswsa2023
Plan your Money. Plant your Future: The Financial ombud offices will be hosting a free joint webinar as part of the MSWSA2023 campaign to help you plan your finances to safeguard your financial future. Wed 30 Aug 9h30-11:00am. Register now shorturl.at/gnFK8
#obssa #wealth
Always read the terms and conditions when entering into any kind of written agreement with a bank, investment company or other financial institution.
Read about one of our cases involving bank fees and vague pricing: obssa.co.za/case_studies/ter…