Tribunal hands down decision in another MyMo accounts scandal case
Standard Bank debarred a branch team leader for using her own money to activate four accounts without the customers’ consent.
Standard Bank
Keeping it real-time: adoption rate of digital payment service PayShap ticks up
PayShap adoption takes another leap forward as Discovery joins banks offering the real-time digital payment service to their clients.
When does an ‘employee’ become a ‘representative’ who can be debarred?
Material discrepancies about a newly appointed financial planner’s employment history came to light while she was being on-boarded.
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.
Thursday briefing: a round-up of recent financial services news
FNB to expand adviser network | Extending mortgages to fund solar unwise | Bank staff sentenced for fraud | ANC-EFF coalition ‘worries investors’
Ex-employees implicated in MyMo accounts scandal take debarments to the tribunal
Former Standard Bank staff contend that the FAIS Act did not apply to their debarment and conduct.
Monday briefing: a round-up of recent financial services news
UT managers fight for market share | Coronation faces huge tax bill | MyMo accounts scandal | Insurance fraud | Discovery’s interim profits
This is SA’s cheapest bank if you transact completely online, according to Solidarity’s survey
The report also compares the cost of banking at Absa, Capitec, First National Bank, Nedbank, and Standard Bank.
You can’t be fired just because you’re unpopular, court says
Labour Appeal Court rules that Standard Bank branch manager must be reinstated.
Conveyancing attorney liable for R1.4m after fraudster intercepts email
Attorney also sought an order holding Standard Bank liable if the court found that he had to pay the respondents.
Standard Bank’s debarment stands despite ‘missing’ debarment policy
Financial Services Tribunal sets out why the policy’s absence from the record is not fatal to a procedurally fair process.
Brace for another 75-basis point repo rate hike this week
Most economists who participated in a poll by Reuters expect that the South African Reserve Bank (Sarb) will raise the repo rate by 75 basis points this week. Of the 20 economists polled […]
Competition Tribunal orders banks to do business with Sekunjalo – for now
The Competition Tribunal has granted interim relief to the Sekunjalo Group, preventing three banks from closing the group’s accounts and ordering five others to reopen accounts that have already been closed. The interim […]
Judge slams bank, lawyers for shoddy application against defaulting homeowner
Standard Bank and its lawyers have come under fire from a Durban High Court judge for taking shortcuts in an application against a defaulting homeowner. The bank sought default judgment and an order […]
FNB the only major bank to buck trend of higher complaints
First National Bank (FNB) was the only bank among the country’s “big five” banks that recorded a decrease in the number of cases opened against it by the Ombudsman for Banking Services (OBS) […]
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 […]
