We are often very reluctant to complain. We don't want to "make a scene" or we don't want to cause trouble for anyone. As a result, we don't stand up for our rights.
In South African law, the consumer has many rights, and there are many ways to exercise these rights. The financial services industry, in particular, has gone to great lengths to ensure that every client has a voice that will be heard.
If you feel you have been cheated or treated unfairly, it is your right to complain. The person to begin the process of making a complaint is your intermediary. If this person does not resolve your problem immediately (or if you do not trust him or her), you should complain directly to the company you are dealing with.
Should none of the above options succeed, you can approach one of the organisations listed below, depending on the nature of the complaint.
Life assurance policy
The Ombudsman for Long-Term Insurance
Private Bag X45, Claremont 7735
Telephone: (021) 657 5000
Fax: (021) 674 0951
Toll-free: 0860 103236
Email: [email protected]
Short-term insurance policy
The Ombdsman for Short-Term Insurance
PO Box 32334, Braamfontein 2017
Tel: (011) 726 8900
Fax: (011) 726 5501
Claremont
7735
Tel: (021) 674 0209
Financial services intermediary
The Ombudsman for FAIS
PO Box 74571
Lynwood Ridge 0040
Tel: (012) 470 9080
Fax: (012) 348 3447
PO Box 5728
Johannesburg 2000
Tel: 0860 800 900
Suspected illegal banking business
(Deposit-taking by entities other than registered banks)
Registrar of Banks
PO Box 8432
Pretoria 0002
Tel: (012) 313 3942
Fax: (012) 313 3758
Parktown
Toll-free: 0860 100406
Fax: (011) 647 4440
Email: [email protected]
Pyramid schemes or misrepresentation
Consumer Affairs Committee
Department of Trade and Industry
Private Bag X84, Pretoria 0001
Telephone: (012) 394 1551/52
Fax: (012) 394 2551/52
Email: [email protected] or [email protected]
If your complaint doe not fall into any of the above categories, you can contact the Financial Services Board's call centre at 0800 202 087.