2: Know Your Ombud Episode 2: What to do if your financial institution does not treat you fairly

Know your Ombud is a series of conversations aimed at helping consumers of financial services understand their rights and where to go if they are not treated fairly. 

In this episode of "Know Your Ombud," host Maya Fisher-French sits down with Reana Steyn, the head Ombud and CEO of the amalgamated National Financial Ombud (NFO), to discuss the significant changes in the financial Ombud landscape following the establishment of the National Financial Ombud Scheme. Reana shares insights on how this new single scheme aims to simplify the process for consumers, consolidating four previously separate Ombud schemes into one streamlined organisation. 

Listeners will learn about the various types of complaints that can be addressed by the Ombud, the importance of initiating a complaint with the financial institution first, and the critical role of the Ombud in resolving disputes effectively. Reana emphasises that the Ombud service is free of charge, providing consumers with access to legal expertise without the need for costly lawyers. 

The conversation also touches on the fairness jurisdiction of the Ombud, which allows for a broader interpretation of consumer rights beyond just the legal contract. Reana explains how the Ombud can advocate for systemic changes within financial institutions, ensuring that consumer interests are protected and that unfair practices are addressed. 

Join Maya and Reana as they delve into the workings of the Ombud system, encouraging listeners to utilise this invaluable resource for resolving financial disputes and advocating for their rights. Remember, the Ombud is here to help you, so don't hesitate to reach out if you have a complaint!

If you feel let down by a financial provider, contact one of these trusted schemes:
 

• Ombud for Financial Services Providers (FAIS Ombud) for financial advice disputes:  faisombud.co.za
• Office of the Pension Funds Adjudicator (OPFA) for pension fund related disputes: pfa.org.za
• JSE Ombud for JSE-related issues: jse.co.za
• National Financial Ombud Scheme (NFO) for banking, credit, and insurance: nfosa.co.za 

 This series was created in partnership with The Ombud Council.