Remember those days when you looked forward to the Christmas holidays? Long lazy summer days eating lychees and mangos; waking up on Christmas morning to gifts under the Christmas tree; a family feasts where you ate until you were ready to burst....
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Buying a car in December
By Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets, at Standard Bank It is natural to think about the joys of starting the New Year in your dream car when your bank account is filled with an end-of-year bonus. However, is it...
More clout for medical scheme members
The Council for Medical Schemes (CMS), which is the regulator for medical schemes in South Africa, has initiated new processes to put more power in your hands so that you are able to take on large medical schemes. Consumers have always been able to...
Check those till slips
In response to complaints about unauthorised cash withdrawals at PicknPay till points, PicknPay has announced upgrades to their till points. A shopper had complained that on two separate occasions, PicknPay tellers had made unauthorised cash...
Shopping online: how to avoid overspending
According to World Wide Worx, which monitors the local e-commerce landscape on an annual basis, in conjunction with MasterCard, online shopping has stayed in line with forecasts over the past few years – slightly surpassing last year’s...
Beware of debit order fraud
When Jurie Pohl discovered that fraudulent debit orders amounting to R12 000 had been deducted from his bank account over five years, he became the latest victim of a financial crime where syndicates are deliberately using the debit order system to...
Air tickets: read the fine print
Air travel is not cheap and even “low-budget” airlines charge you more than R1 000 for a local, return flight. However, low-cost air tickets come with a non-refundable clause, so you get what you pay for. Read the fine print before you buy because...
Uninsured drivers beware
Insurers are becoming more enthusiastic about suing uninsured drivers to recover costs. If you are uninsured and crash into another vehicle causing damage amounting to thousands of rands, you are liable for those repairs. Even if the other driver...
Consumer Protection Act: Know when to complain
We’ve all had a bad customer experience, but how many of us actually take it further? Under the Consumer Protection Act (CPA), you may be entitled to compensation. Consumer Goods and Services Ombud (CGSO), Adv. Neville Melville points out five...
Customers are flexing their muscles, says Credit Ombudsman
Borrowers are invoking their rights against unscrupulous lenders and debt counsellors. A greater awareness by consumers around their rights when it comes to borrowing money has led to an increase in complaints related to non-bank credit...
Previous Articles
Adviser dupes client into overpaying on commission
Make sure you read your investment contract to ensure it’s what you signed up for. Do you know how much you are paying for your investment policy? Could you state exactly how much of your monthly contribution is paid in commission or product fees? The truth is few...
Moves to address reckless lending
Changes to the National Credit Act are necessary to deal with reckless lending, but proposed amendments may have unintended consequences. The Department of Trade and Industry recently proposed amendments to the National Credit Act to deal with reckless lending. One of...
Consumer Protection Act: When can you demand a refund?
The Consumer Protection Act provides significant protection for consumers; the Act does not, however, remove the obligations of consumers when undertaking an agreement. “A small business hired a hall for an event scheduled for 7pm on a Saturday night. The event was a...
New consumer ombudsman launched
The Consumer Goods Council of South Africa (CGCSA) recently launched the Consumer Goods and Services Ombud (CGSO), ahead of World Consumer Rights day on 15 March. The Consumer Goods Council represents 11 000 companies in the retail, wholesale and manufacturing of...
Cellphone companies need to re-examine their policies around fraud
A new form of crime around stolen SIM cards can cost a customer up to R2 800 an hour, but some cellphone companies don't seem to care. At around 5.30pm one evening Jenny Hibbert’s cellphone was stolen from her handbag at a restaurant. Only noticing the missing phone...
Who controls your money decisions
Modern day philosopher and writer Alain de Botton wrote a provocative article in The Wall Street Journal entitled Why most men aren’t man enough to handle web porn. While this title may seem completely irrelevant to personal finance (apart from the amount of money...