Bank Ombud now also handles bank-related credit complaints

As of 1 October 2019, all banks and credit bureau listing related complaints, involving banks, will fall under the jurisdiction of the Banking Ombudsman. All non-bank related credit bureau complaints will still be dealt with by the Credit Ombudsman.

Credit bureau complaints involving banks vary and may include:

  •  complaints related to the listing of inaccurate or incorrect credit information
  • the listing of insufficient or incomplete credit information
  •  the listing of out-dated credit information
  • the lack of notification to consumers prior to the listing of adverse information
  •  listings in respect of prescribed debt
  • duplicate and/or double listings in respect of the same debt
  • service disputes (i.e. non-payment of an account or debt due to a dispute relating to service to which the account relates) and listings following incidents of identity theft and/or identity fraud

“In the interest of customer convenience and providing a less confusing complaints resolution process, we believe that this change will serve the consumer, and the bank customer better. We will ensure that the consumers receive the same expertise that they are used to in relation to other types of complaints when it comes to our new mandate to investigate credit bureau related disputes”, Reana Steyn, the Ombudsman for Banking Services, confirmed in a media release.

Click here to read the Ombudsman media release.

, ,

Comments are closed.