National Financial Ombud Scheme South Africa - NFO

National Financial Ombud Scheme South Africa - NFO National Financial Ombud (NFO) is an all-in-one dispute resolution service. NFO is recognised as an industry ombud scheme by the Ombud Council (OC/001/24).

The National Financial Ombud Scheme South Africa (NFOSA) has officially launched the Money Smart Week South Africa 2026 ...
27/08/2026

The National Financial Ombud Scheme South Africa (NFOSA) has officially launched the Money Smart Week South Africa 2026 (MSWSA 2026) campaign with a high-impact Financial Literacy Workshop held at the MLT Institute Youth Development Centre in Brakpan.

The workshop brought together 50 young people for an engaging and practical learning experience designed to strengthen their financial confidence and equip them with the skills needed to navigate today’s economic environment.

Facilitators led interactive sessions on key financial topics, including the behavioural factors that influence money decisions, budgeting and saving, savings and investment options, and responsible credit use. Participants also gained valuable insights into credit reports and credit scores, how to interpret credit agreements, and the growing use of Buy Now Pay Later (BNPL) services.

A highlight of the workshop was an introduction to NFOSA’s free dispute resolution service, empowering participants with knowledge of their consumer rights and providing guidance on where to seek assistance when experiencing challenges with financial service providers.

“Young people are the future of our country and economy. By equipping them with the right financial knowledge and tools, we can help them develop healthy financial habits, make informed decisions, and avoid unnecessary debt,” explained Consumer Educator, Amukelani Maringa.

The Brakpan workshop marks the first activation of the MSWSA 2026 campaign, which will see the roll-out of financial literacy, consumer education, and consumer protection initiatives across the country throughout the week, reaching more communities and empowering South Africans to make informed financial decisions.

Credit can be a useful financial tool, but it’s also a form of debt, so you need to be smart about how you manage it. Fo...
27/08/2026

Credit can be a useful financial tool, but it’s also a form of debt, so you need to be smart about how you manage it. For Money Smart Week South Africa, we’re celebrating The Power of Possible, and sharing top tips from the Credit Team in the NFO’s Banking & Credit Division.

Learn more about your credit rights and
responsibilities here: https://nfosa.co.za/credit-tips/

The theme of this year’s Money Smart Week South Africa is ‘The Power of Possible’. When it comes to banking (and especia...
26/08/2026

The theme of this year’s Money Smart Week South Africa is ‘The Power of Possible’. When it comes to banking (and especially online banking) you need to take steps to ensure that your possible isn’t derailed by fraud. To help you stay safe when you transact, the Banking Team from the NFO’s Banking & Credit Division has compiled a must-read list of tips to keep you safe from banking fraud.

You can find it here:
https://nfosa.co.za/banking-tips/

Digital banking offers consumers enhanced convenience, but its widespread use has also created potential new opportuniti...
26/08/2026

Digital banking offers consumers enhanced convenience, but its widespread use has also created potential new opportunities for fraudsters. Criminals are using increasingly sophisticated methods to steal people’s identities and login details, and each year many South Africans are experiencing emotional and financial trauma as a result.

In our latest press release, we discuss how the NFO may be able to assist in cases where customers believe that their bank contributed to their loss, or failed to take the necessary steps to prevent it. We also outline the benefits of using the NFO’s free, fair and impartial services, and explain our fraud investigation methods in more detail.

You can find the full press release here: https://nfosa.co.za/digital-banking-fraud-and-avenues-for-redress/

Life insurance can help you pass on The Power of Possible to your loved ones after you’ve gone, but you need to be aware...
25/08/2026

Life insurance can help you pass on The Power of Possible to your loved ones after you’ve gone, but you need to be aware of the risks of life insurance fraud.

To build a more resilient future for your family, follow these top tips from the NFO’s Life Insurance Division, including advice on what to do when a policyholder passes away: https://nfosa.co.za/life-insurance-tips/

Many insurers will still approve a motor vehicle claim when the insured was driving in a negligent way (that is, a less ...
24/08/2026

Many insurers will still approve a motor vehicle claim when the insured was driving in a negligent way (that is, a less than reasonable way) – but will automatically reject a claim if there is evidence of reckless driving.

At the NFO, we believe that a more flexible approach is required, and that insurers should consider all the relevant circumstances when deciding on a claim. There may have been a reason for the reckless driving - such as self-preservation or some other emergency - that meant that the insured’s conduct was actually not reckless. What is reckless in one situation may be reasonable in another.

You can read a more detailed exploration of this important question in this FA News article on our Newsroom page: https://nfosa.co.za/what-was-the-real-cause-of-the-damage/

Short-term insurance can offer you peace of mind in many areas of your life, from driving to going on holiday to owning ...
24/08/2026

Short-term insurance can offer you peace of mind in many areas of your life, from driving to going on holiday to owning a home.

The NFO’s Non-life Insurance Division has created a list of essential tips for Money Smart Week South Africa, and you can learn more about the importance of understanding insurance policies and inclusions here: https://nfosa.co.za/non-life-insurance-tips/

When an insurer rejects a claim, they may be relying on not just the wording of the insurance policy in question, but ho...
24/08/2026

When an insurer rejects a claim, they may be relying on not just the wording of the insurance policy in question, but how this wording is applied to the facts of the case. This can lead to unhappiness and frustration for consumers, especially when they believe that they have been treated unfairly.

When reviewing complaints here at the NFO, we look at not just strict contractual questions, but also the more elusive issue of fairness. For example, an insurer may be technically correct to reject a claim, but it is also vital that they explain exactly why they did so. This can be particularly important in cases where the loss did not result from immediate events, but from some underlying cause.

Visit our Newsroom page to read an FA News article on this topic: https://nfosa.co.za/when-does-reckless-become-reasonable/

The theme of this year’s Money Smart Week South Africa (from 24 – 30 August) is ‘The Power of Possible’. That’s somethin...
20/08/2026

The theme of this year’s Money Smart Week South Africa (from 24 – 30 August) is ‘The Power of Possible’. That’s something we are really getting behind here at the NFO. We believe that it’s possible for people to get closer to their dreams by being smarter with their money. We also believe in the power of free, fair impartial dispute resolution services for financial services consumers.

Learn more here: https://nfosa.co.za/


One of the highlights of the NFO Industry Workshop was a thought-provoking panel discussion on"Digital Banking Fraud: De...
19/08/2026

One of the highlights of the NFO Industry Workshop was a thought-provoking panel discussion on"Digital Banking Fraud: Defining Fair and Reasonable Bank Responsibilities and Practice Where Consumers Are Seen as the Weakest Link." The session brought together leading voices from banking, regulation, academia, consumer advocacy and fraud prevention to explore one of the most pressing challenges facing the financial sector today. The discussion provided valuable insights into the evolving fraud landscape, the responsibilities of banks to protect customers, and the role consumers play in safeguarding their own financial information.

University of Johannesburg
SABRIC
Capitec
FSCA South Africa
Wendy Knowler

Buy Now Pay Later (BNPL): Regulation, Affordability and Consumer Dispute Resolution
A thought-provoking panel discussion explored the rapid growth of Buy Now Pay Later (BNPL) products and the opportunities and challenges they present for consumers, providers and regulators. Panellists examined the evolving regulatory landscape, the importance of responsible lending and affordability assessments, and emerging issues in consumer dispute resolution. The discussion provided valuable insights into balancing innovation and financial inclusion with consumer protection, highlighting the need for clear regulatory frameworks and effective mechanisms to address consumer complaints in this fast-growing sector.

South African Credit & Risk Reporting Association
Credit Association of South Africa

https://nfosa.co.za/

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