KEY FINDINGS FROM OUR 2008 REPORT INCLUDE:
Despite mounting pressure on banks to reduce fees, all increased their charges between 2007 and 2008 – some by twice the inflation rate. Absa implemented the biggest year-on-year price increases. Standard Bank saw the biggest increase over four years on its package options, bringing it more in line with its competitors. Bank literature remains unclear or incomplete. Bank call centres provided inconsistent and sometimes incorrect information, especially regarding overdrafts, garage and credit card transactions. Generally, consultants are inadequately trained.