Ithala depositor payouts to continue through 2026 with three-year claim window
FNB has disbursed over R1 billion to Ithala customers and is sending about 5 000 SMS notifications per day to schedule branch visits.
FNB
Banks see strongest sentiment in a decade, but service gaps persist
Campaign-driven engagement boosted positivity across the industry, yet customer complaints around service, digital reliability, and trust highlight ongoing challenges for banks.
Relief at last: Ithala depositors can access frozen funds from 8 December
Treasury’s R2.2bn intervention ends an 11-month account freeze, unlocking payouts for Ithala’s 257 000 depositors while the liquidation case continues.
Capitec joins Pick n Pay banking network
While other banks scale back, Capitec is expanding its footprint – joining Pick n Pay’s in-store banking and actively opening new ATMs nationwide.
Tribunal upholds debarments for misusing client information
The decisions show that even thwarted attempts to breach confidentiality signal a critical lapse in integrity.
SIU investigation into Ithala tender unrelated to liquidation bid
Meanwhile, MPs have questioned the SARB’s push to liquidate Ithala, arguing it conflicts with Parliament’s resolution to support the bank’s growth.
Treasury asks First National Bank to assist Ithala’s SASSA customers
Treasury and SASSA respond to an allegation that Ithala’s client database was ‘unlawfully’ transferred to FNB.
Black Friday 2024: South African shoppers go digital amid record spending
Consumers defied economic pressures this Black Friday, with banks processing billions in transactions and setting new records. Digital payments took centre stage, highlighting a significant shift in consumer behaviour.
How consumers feel about the country’s big retail banks
One digital bank emerges head and shoulders above the rest in the 2024 South African Banking Sentiment Index.
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.
Financial services entities recognised for exceptional HR practices
They are among the 138 South African employers to earn the accreditation of ‘top employer’.
Online banks unbeatable in Solidarity’s 2022 transaction fees survey
The release of Solidarity’s annual Bank Charges Report usually generates a fair bit of interest, probably because consumers want to see whether Capitec will live up to its reputation as the country’s cheapest […]
Tribunal not impressed with how FNB debarred employee for the second time
The Financial Services Tribunal has expressed its disapproval of the way in which FNB debarred a representative – and it set aside the employee’s debarment for a second time. FNB dismissed and debarred […]
Tribunal not impressed with how FNB debarred employee for the second time
The Financial Services Tribunal has expressed its disapproval of the way in which FNB debarred a representative – and it set aside the employee’s debarment for a second time. FNB dismissed and debarred […]
