Read
that fine print
20 February, 2005 - Sunday Times
If you
have a consumer complaint and feel you keep hitting a wall, there is a
way to take the matter further: contact the ombudsman.
If you have run into banking problems, contact the Ombudsman for Banking
Services. There is a process that must be followed.
Ombudsman for Banking
Services Neville Melville says go to your bank first. Banks must acknowledge
receipt of the complaint, issue a reference number and respond within
20 days.
If you still have
no joy, complete a standard complaint form that you can get from your
bank and send it to the ombudsman.
Note that the ombudsman
does not deal with issues about charges, fees or general policy. He can
deal with issues around FICA (Financial Intelligence Centre Act).
The ombudsman dealt
with about 3 000 complaints last year, with an average resolution tome
of 70 days. a total of 90% of the complaints were finalised within six
months.
If you get a special dispensation, such as great interest rates, make
sure you get it in writing, Melville says.
ATM complaints accounted for 18% of the total, but "it would be
down to 1%" if people followed on-screen instructions.
He says you must never enter your PIN number before being asked for
it. many ATM scams revolve around customers unthinkingly entering their
PIN upon reading an error message.
If you buy a home you may believe you have personal insurance cover
if you die, when what you actually have is cover on the property only.
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