Consumer Corner: How can the ombudsman for banking services assists the banking public get a fair deal from banks in accordance with the code of banking practice
With the stresses of the economic downturn and financial strain often linked with the inability to meet repayment obligations to creditors, the need for trust within the banking sector has never been more important. More than ever before, there is a general feeling that consumers need banks that they can rely on, banks that are approachable and that are amenable to assist them in times of economic crisis. But what happens if your bank fails to act in line with its undertakings under the Code of Banking Practice? The Ombudsman for Banking Services advises that under the code banks must act fairly, reasonably, and ethically towards their customers. Sebenzile Nkambule spoke to Kwanda Vabaza, Communications Manager at the Ombudsman for Banking Services...
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