22 August 2025 Consumer education is at the forefront of activities by the National Financial Ombud Scheme (NFO) to commemorate Money Smart Week 2025. Money Smart Week runs from 25 to 31 August under the theme “Smart Money: Financial Foundations for a Resilient Future”. Empowering individuals to make sound decisions about their purchases of financial […]| NFOSA
Now Available to DownloadThe 2024 NFO Annual Report It’s a historic day for the NFO as we unveil our inaugural Annual Report. Telling the story of our extremely busy first year, it’s a must-read opening chapter. Our first-ever Annual Report covers achievements including the recovery of over R328 million for financial services consumers and the […]| NFOSA
With virtual banking cards being offered across all digital banking platforms, and with the ability to load these cards on phones and other wearable devices, virtual cards are gaining ground over traditional physical cards or cash.| NFOSA
With the dramatic shifting of credit from a tool for upward mobility to a survival mechanism for basic necessities like food, rent, electricity and transport, alarm bells are being sounded about unsustainable debt levels of consumers. The post Rising Credit Debt: NFO Calls for Greater Consumer Vigilance appeared first on NFOSA.| NFOSA
The NFO is tasked with a number of responsibilities and duties that help keep South Africa’s economy healthy and robust for consumers and fi nancial services providers alike. It’s essential that we maintain an open door policy, keep communications channels clear and accessible while spreading our message, as well as being a responsible, generous corporate citizen. The post Case Studies Highlighting the Credit Division’s Impact appeared first on NFOSA.| NFOSA
The NFO is tasked with a number of responsibilities and duties that help keep South Africa’s economy healthy and robust for consumers and fi nancial services providers alike. It’s essential that we maintain an open door policy, keep communications channels clear and accessible while spreading our message, as well as being a responsible, generous corporate citizen. The post The NFO is Tasked with a Number of Responsibilities and Duties That Help Keep South Africa’s Economy Healthy appear...| NFOSA
The complainant approached our office for assistance following the rejection of his motor vehicle claim. The participant rejected the claim on the basis of lack of due care or recklessness on the part of the driver, being the complainant. The participant relied on the following policy provisions to reject the complainant’s claim. The post Case Study 3 – Lack of Due Care/Recklessness in Motor Vehicle Hijack Claim appeared first on NFOSA.| NFOSA
The case concerned a funeral policy with Liberty Life (“the insurer”). The complainant was the beneficiary and premium payer. Ms R was both the policyholder and the life assured. Ms R (“the deceased”) died some 12 months after the policy was issued whereupon the complainant lodged a claim. The post Case Study 1 – Final Ruling Where Funeral Claim was Wrongly Declined appeared first on NFOSA.| NFOSA
Assisting consumers with their complaints and giving the right advice at the right time to rural and vulnerable people can significantly reduce the complaints arising from financial products and services in these communities.| NFOSA
Since its establishment a year ago, the National Financial Ombud Scheme South Africa (NFO) placed a staggering R328,5 million in the hands of aggrieved consumers who had complained about financial institutions.| NFOSA
A medical report does not automatically qualify an employee for disability insurance. While medical reports are crucial evidence, the employer’s medical boarding policy could well differ from the criteria used by the insurer for determining eligibility for disability benefits.| NFOSA
