Rights & Recourse

Financial matters are very closely regulated and in accordance with South African law consumers have many rights and ways to exercise these rights. If you need help in addressing unfair treatment that you feel you have received, you can contact one of the relevant authorities below:

Financial Sector Conduct Authority

There are fraudulent schemes and illegal operators out there. Before you invest your hard-earned money with any institution do some homework and check that they are registered with or licensed by the Financial Sector Conduct Authority. If you are receiving financial advice, check that the financial adviser or financial service provider is qualified and licensed by the Financial Sector Conduct Authority. Ask them to show you their licence.

Tel: 0800 203 722
Email: info@fsca.co.za
Website: www.fsca.co.za

Ombud for Banking Services

If you are dissatisfied with the service you have received from your bank, and you have contacted them and made them aware and are still not satisfied with the response you can contact the Ombudsman for Banking Services.

Tel: 0860 800 900
Email: info@obssa.co.za
Website: www.obssa.co.za

Ombud for Financial Services Providers or FAIS Ombud

The FAIS Ombud deals with complaints submitted to the Office by a specific client against a financial services provider. “Complaint” means a specific complaint relating to a financial service rendered by a financial services provider or a representative of such provider to the complainant.

Your complaint or query must relate to a violation that occurred on or after 30 September 2004 and your claim should not exceed R800 000.00 in monetary value.

Tel: 012 762 5000
Email: info@faisombud.co.za or
visit www.faisombud.co.za
Postal address: PO Box 74571,
Lynnwood Ridge, 0040

Pension Funds Adjudicator

If you have a problem with your pension, provident, preservation or retirement fund, contact:

Tel: 086 066 2837
Fax: 086 693 7472
Website: www.pfa.org.za

Ombud for Long-term Insurance

For complaints around life insurance, funeral cover and long-term insurance matters, contact:

Tel: 0860 103 236
Fax: 021 674 0951
Website: www.ombud.co.za

Ombud for Short-term Insurance

Tel: 011 726 8900
Fax: 011 726 5501
E-mail: info@osti.co.za
Website: www.osti.co.za

Credit information Ombud and NCR

For complaints about credit bureaus or credit providers and for information on the credit industry, contact:

Tel: 0861 662 837
Email: ombud@creditombud.org.za
Website: www.creditombud.org.za

National Credit Regulator

0860 627 627
Email: complaints@ncr.org.za
Visit: www.ncr.org.za

Financial Sector Conduct Authority

There are fraudulent schemes and illegal operators out there. Before you invest your hard-earned money with any institution do some homework and check that they are registered with or licensed by the Financial Sector Conduct Authority. If you are receiving financial advice, check that the financial adviser or financial service provider is qualified and licensed by the Financial Sector Conduct Authority. Ask them to show you their licence.

Tel: 0800 203 722
Email: info@fsca.co.za
Website: www.fsca.co.za

Ombud for Banking Services

If you are dissatisfied with the service you have received from your bank, and you have contacted them and made them aware and are still not satisfied with the response you can contact the Ombudsman for Banking Services.

Tel: 0860 800 900
Email: info@obssa.co.za
Website: www.obssa.co.za

Ombud for Financial Services Providers or FAIS Ombud

The FAIS Ombud deals with complaints submitted to the Office by a specific client against a financial services provider. “Complaint” means a specific complaint relating to a financial service rendered by a financial services provider or a representative of such provider to the complainant.

Your complaint or query must relate to a violation that occurred on or after 30 September 2004 and your claim should not exceed R800 000.00 in monetary value.

Tel: 012 762 5000
Email: info@faisombud.co.za or
visit www.faisombud.co.za
Postal address: PO Box 74571,
Lynnwood Ridge, 0040

Pension Funds Adjudicator

If you have a problem with your pension, provident, preservation or retirement fund, contact:

Tel: 086 066 2837
Fax: 086 693 7472
Website: www.pfa.org.za

Ombud for Long-term Insurance

For complaints around life insurance, funeral cover and long-term insurance matters, contact:

Tel: 0860 103 236
Fax: 021 674 0951
Website: www.ombud.co.za

Ombud for Short-term Insurance

Tel: 011 726 8900 Fax: 011 726 5501
E-mail: info@osti.co.za
Website: www.osti.co.za

Credit information Ombud and NCR

For complaints about credit bureaus or credit providers and for information on the credit industry, contact:

Tel: 0861 662 837
Email: ombud@creditombud.org.za
Website: www.creditombud.org.za

National Credit Regulator

0860 627 627
Email: complaints@ncr.org.za
Visit: www.ncr.org.za

To request your free annual credit report contact one of these credit bureaus:

Compuscan: 0861 514 131 | www.mycreditcheck.co.za
Experian: 0861 105 665 | www.creditexpert.co.za
TransUnion: 0861 482 482 | www.mytransunion.co.za
XDS: 0860 937 000 | www.credit4life.co.za

Test your rights and recourse knowledge

Q 1: We have the Financial Sector Conduct Authority (FSCA) because:

Correct! Wrong!

Q 2: If you have a complaint about financial services you can (pick the most accurate)

Correct! Wrong!

Saver Waya Waya WageWise is a financial literacy initiative of the ASISA Foundation. The WageWise website was largely funded by the Sanlam Foundation.