LEGALLY SPEAKING: The most complained-about banks in South Africa

Loading player...
GUEST – Reana Steyn, Ombudsman for Banking Services



The Ombud for Banking Services (OBS) says banking disputes regarding current accounts and internet banking remain high, despite banks making a greater effort to resolve consumer disputes internally.

In the OBS Annual Report 2022, Reana Steyn, Ombudsman for Banking Services, said 2022 significantly differed from the prior two years.

“As Covid-19 gradually loosened its grip on the front-page headlines, on business, and daily life in general, it became clear that the yearned-for returns to ‘normality’ and to ‘business as usual’ were taking new shape and being actively pursued by all,” Steun said.
17 May 2023 5PM English South Africa Business News · Investing

Other recent episodes

BofA Slashes SA Growth Forecast as Inflation Surges

Bank of America has cut South Africa’s 2026 GDP growth forecast to 1.3%, warning that higher oil and fertilizer prices will keep inflation above 4% for most of the year. Economist Tatonga Rusike explains
23 Apr 3PM 11 min

Understanding SA’s First Wealth Score

Franc unveils South Africa’s first-ever Wealth Score, revealing that financial habits—not income—are the strongest predictor of financial health. We unpack why SA’s national score is 45/100 and the behavior gap between knowing and doing with Dr. Thomas Brennan, founder and CEO of Franc.
23 Apr 3PM 13 min

Clicks Lifts HEPS 8% Despite Warehouse Disruptions.

Clicks delivered firm interim results with diluted HEPS up 8.1%, even as warehouse system delays cost an estimated R175 million in lost sales. CEO Bertina Engelbrecht discusses pharmacy growth, trading margins, and festive‑season competition.
23 Apr 2PM 16 min