The NFO
NFOSA
When consumers feel stuck in a dispute with a bank, credit provider or insurer, the National Financial Ombud of South Africa (NFO) may be able to help.
Who Are They?
The NFO is an ombud, which is an independent organisation that looks at complaints involving two parties and tries to help resolve disputes in a fair way. Their services are generally free to consumers.
The NFO looks into complaints about things like banking disputes, credit provider issues, insurance complaints, incorrect balances and credit information problems. They gather information from both sides and consider whether consumers have been treated fairly. In many cases, they help consumers and financial institutions communicate and work toward resolving problems.
How Can They Help You?
For consumers under debt review, the NFO may be able to assist when credit related disputes remain unresolved. This could include concerns about balances, account handling or other complaints linked to a credit provider or financial institution.
Before approaching the NFO, it is always best to first try resolve the matter directly with the other party involved. Give them a chance to sort it out before escalating to the NFO.
TIP: It is a good idea to keep a record of trying to resolve problems directly with the credit provider, financial service provider or insurer. Save emails, messages, reference numbers and replies (or note if there was no response). The NFO will definitely ask whether you first tried to resolve the issue before lodging a formal complaint.
The NFO offers an effective and fair avenue for assistance when communication breaks down or disputes cannot be fully resolved in a timely fashion.
To contact the NFO visit: https://nfosa.co.za/contact-us/
To become a member of the NFO visit: https://nfosa.co.za/membership-application/
To find out more about the NFO complaints process visit: https://nfosa.co.za/submit-a-complaint/
