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Changes for FNB Gold customers

Changes for FNB Gold customers

FNB has announced a new account as part of its annual pricing review, with a focus on banking the family. As from 1 July all FNB Gold customers will be converted to FNB’s new Aspire account. It comes with lower monthly fees – dropping from R109 to...

Why you should use virtual cards

Why you should use virtual cards

Virtual cards offer more protection when you’re making purchases – especially online. Angelique Ruzicka finds out how they work. Shopping online has always come with risks, especially when it comes to fraud, but the introduction of virtual bank...

Check before you press pay

Check before you press pay

If you accidently pay into the wrong account, there is no guarantee you will receive your money back. I recently received two complaints from readers who had accidently paid money into the wrong account, highlighting the risk of electronic fund...

Bounced debit orders will be very costly

Bounced debit orders will be very costly

Bank customers will have a nasty surprise if they allow their debit orders to bounce. When Anil contacted his medical scheme to cancel his premium as he knew he had no funds, he discovered it was too late. The debit order went off and Standard Bank...

OBS advises to check your loan statements

OBS advises to check your loan statements

Incorrect balances and terms on home loans, personal loans and revolving credit make up a significant portion of complaints to the Ombudsman for Banking Services (OBS), according to its latest report. Of the 5 996 cases it has closed so far this...

Are illegal debit orders a thing of the past?

Are illegal debit orders a thing of the past?

After a significant spike in the number of illegal debit orders, banks say action has been taken to clean the industry of rouge players. Despite much fanfare around the introduction of DebiCheck which puts customers in control of approving debit...

Fighting debit order fraud

Fighting debit order fraud

A new debit order system will be made compulsory towards the end of the year, but will it make a difference in the fight against debit order fraud? Just last month, organised crime syndicates operating on a massive scale ‒ duping banking customers...

Maya Fisher-French author of Money Questions Answered

Previous Articles

African Bank launches new transaction account

Customers benefit as banks launch cost-effective banking solutions. The banking industry is certainly seeing an increase in competition, with the launch of TymeBank earlier this year and with the imminent launch of Discovery Bank. As part of the increased competition...

Some banking history

This year, to celebrate 180 years of banking, FNB has created an exhibition which is currently at Portside in Cape Town. In addition to documenting the history of FNB, it is a fascinating history lesson on the evolution of banking in South Africa. FNB started its life...

The fight against illegal debit orders

Why has it taken banks so long to take action against illegal debit orders? FNB recently issued a press release stating that it would reverse all debit orders and refund customers who have been victims of ProCall and Mzansi illegal debit orders. Absa Bank followed...

TymeBank launches low-cost offering

TymeBank recently had its official launch, and has already signed up over 80 000 customers. As South Africa’s first fully digital bank, it is what the industry calls a “digital disruptor”. Its only physical presence is at kiosks at PicknPay and Boxer stores where you...

DebiCheck: putting an end to illegal debit orders

One of the more frequent complaints we receive from readers is around illegal debit orders. This is when bogus companies run debit orders of around R100 off people’s bank accounts in the hope that either the bank account holder won’t notice the transaction, or if they...

Can you get to eBucks Level 5 without debt?

FNB has updated their eBucks reward programme and depending on your type of account, it is worth finding out how these changes affect you or how to change your spending patterns in order to earn more eBucks. To get more “share of wallet”, Gold account customers must...

Deposit insurance

There is a misconception that deposits in bank accounts are guaranteed by government should the bank fail. The reality is that in South Africa there is no deposit insurance, although this is currently being reviewed by the South African Reserve Bank. In a discussion...

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