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These SA banks top the list for most complaints | Business

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Nedbank saw the biggest increase in formal complaints at the Ombud for Banking Services. | News24_Business

Capitec led the pack with over 1 800 formal cases, overtaking Standard Bank, which wore the dreaded crown in 2021. FNB had the most formal cases investigated by the OBS in 2020.However, OBS's operations manager, Edrich Buytendorp, was quick to point out that the number of formal complaints opened per bank doesn't mean that the bank is the most-complained-about in the country.

"The number of files open per bank is not necessarily indicative of the bank's complaint handling performance, or its performance in general for that matter. Banks vary considerably in size, client profiles and product mix. These factors all impact the number of complaints made against the bank to the OBS," he said.

Buytendorp said that there had been a consistent trend in the increasing complaints against Capitec in the past three years, but this could be attributed to the bank's rapid growth and the fact that it has the largest customer base.

 

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