Archive for Banking
Bank’s Penalty Fees For Rejected Debit Orders Under Investigation
NCC said low-income earners were particularly vulnerable and some domestic workers, for example, had paid 10% of their salaries in declined debit order penalty fees.
Read moreBanks – 1: Consumer Rights – 0
The Reserve Bank, on behalf of SA’s retail and commercial banks, made an application to the Department of Trade and Industry (DTI), to have the banks granted an exemption from various provisions of the CPA.
Read moreBanks Protest Consumer Protection Act
Reserve Bank governor Gill Marcus’s office is preparing to apply for an exemption for SA’s banks from certain sections of the Consumer Protection Act (CPA).
Read moreBank’s Customers Bear The Brunt of Court Ruling
Banks have responded to this judgment by threatening to increase the costs of credit, make access to credit more difficult and be less sympathetic to its customers when they experience financial difficulties.
Read moreBanking Fees That Suite You
Mary Oxford (Guest Writer) @ Lucid Living Nobody likes bank fees but, like death and taxes, they’re inevitable. Each month we whinge and moan about the amount that gets deducted, but it’s easier to complain about bank fees than to do something about it. So what should you know, and what could you do? Related [...]
Read moreDebt Stressed? Will Your Bank Help You or Themselves?
John Vaughan (Financial Advisor) @ Lucid Living In order to mitigate burgeoning bad debts, banks have established “credit rehabilitation” departments. The role of these departments is to provide clients with alternatives (i.e. restructuring repayment terms) to debt counselling. Banks aggressively promote the use of this service and commit to “helping you” their valued client. Related [...]
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