How bank errors and unseen fees impacted customers
The OBS’s 2023 annual report unveils chargeback disputes, hidden fees, and administrative failures.
Complaints
OBS reports record high complaints in 2023 as it transitions to NFO
The Ombudsman for Banking Services was kept busy with complaints about current accounts, loans, savings accounts, credit cards, and home loans.
Ombudsman’s report unveils banking blunders and customer missteps
The cases dealt with by the banking ombudsman last year included a home auctioned for far below its value and fraud linked to a stolen phone.
Life insurers with the most and least complaints to the ombud in 2023
There was a further decline in cases that were resolved wholly or partially in favour of the complainants.
Complaints to the life insurance ombud return to pre-Covid levels
There were fewer complaints about funeral benefits in 2023, while complaints about life benefits continued to rise.
Why policyholders complained to the short-term ombudsman in 2023
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
Short-term insurers with the most and the least complaints in 2023
The important statistic is the proportion of personal lines complaints relative to an insurer’s share of the total personal lines claims.
Reana Steyn appointed to lead new National Financial Ombud scheme
The role of the NFO is to aid financial customers to obtain redress for alleged unfair treatment by financial product or service providers.
Adjudicator questions compulsory membership of private security sector fund
The Pension Funds Adjudicator also says the conduct of retirement fund administrators during a transfer of administration should be regulated.
Why policyholders complained to the short-term ombudsman in 2022
Annual report notes a steady increase in disputes related to power surge claims.
Short-term insurers with the most and the least complaints in 2022
The important statistic is the proportion of personal lines complaints relative to an insurer’s share of the total personal lines claims.
What’s inside the long-term insurance ombudsman’s 2022 report
Decline in the number of complaints and in the number of cases resolved in favour of policyholders.
Life insurers with the most and least complaints to the ombud in 2022
Cases that were resolved wholly or partially in favour of the complainants fell to 29%.
The two banks with the biggest increase in complaints in 2022
Complaints about current accounts and digital banking were the two largest categories of cases opened with the ombudsman.
Three cases where the banking ombudsman helped consumers
In one case, the OBS’s intervention resulted in the bank cutting its executor’s fees by 50%.
FAIS Ombud’s report identifies FSP ‘problem areas’
These include delays with funeral policy claims, advice to clients who buy living annuities, and insurance policy disclosures.
FAIS Ombud’s office releases its 2021/22 report
Eight interesting things, including an update on long-standing property syndication complaints.
