Our Insights

GO
GO
Filter: Bank
Can you avoid bond cancellation costs?

08 February 2022,  Tazné Adams

When your property is in the market and you cancel your bond, is there any way to avoid the bank’s... cancellation fee? 

READ MORE
2919
Article
Wrong funds in your account? What can you and your bank do with the funds?

20 May 2021,  Marvin Odendaal

I recently had the situation where a third party accidentally paid a sum of money into our business account. Our... banker saw the amount and asked whether it could be used to settle some of our company’s debt with the bank. When informed that it was not our money, the re-transfer to the third party was arranged. However, I was wondering what would have happened if we had used the money or the bank had taken it to settle our debt with it?

READ MORE
1217
Article
How far is a bank liable if you lose your credit card and pin?

10 July 2020

I lost my wallet with my credit card in it and a piece of paper on which I wrote down... my new card pin number. Because I was hoping I may still find my wallet, I didn’t immediately stop my bank card. A few hours later somebody used my card to pay for food on the other side of town. I then immediately phoned the bank to stop the card and informed the bank that somebody else had my card and pin. The bank told me in that case the bank would not be liable for my losses. Is this true?

READ MORE
1372
Article
Can a bank transfer funds from one account to another without your permission?

11 November 2019,  Dr Candice Reynders

I have two accounts with the same bank. I am in arrears on my home loan payments but will be... receiving money into my savings account. It’s not my money, but money from my sister that I must use to help arrange for her wedding and expenses. I’m just worried that the bank will see the money and then take it to settle my arrears on my home loan. Can they do this?

READ MORE
1237
Article
Labour Court rules, halts intended banking strike

26 September 2019,  Tata Mokwayi

During the past several weeks the trade union, SASBO, and the confederation of trade unions, COSATU, have been urging workers... within the banking sector to down tools and participate in the intended strike action which was set to take place tomorrow, 27 September 2019. Social media has also been ablaze with posts encouraging members of the public to withdraw money from ATMs as the automated machines were also set to be affected by the strike. On Wednesday, 25 September 2019, Business Unity of South Africa (BUSA) approached the Labour Court on an urgent basis to interdict the intended strike. Today, the Labour Court issued the following orders in favour of BUSA's urgent application. The Court ordered that:1. The Court could hear the matter on an urgent basis;2. Any person that partakes in the strike does not enjoy the protection of section 67 of the Labour Relations Act 66 of 1995 ("LRA"). COSATU and SASBO have failed to comply with the provisions of section 77(1) of the LRA. 3. COSATU and SASBO are restricted and restrained from proceeding with and encouraging employees to engage in the intended protest action or any conduct in contemplation or furtherance unless and until such time that they have complied with section 77 of the LRA; and 4. COSATU is directed to advise its affiliates including SASBO and there members that the proposed protest action is unlawful and in breach of section 77 of the LRA.In light of today's Labour Court outcome, employees within the banking sector will be required to report for work as the intended strike will not enjoy the protection of the LRA. 

READ MORE
1554
Blog

Subscribe to our newsletters

Stay up-to-date with the latest news, laws, and events.

SUBSCRIBE NOW