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banking latest news


South Africa’s economic fate is in the hands of ratings agency

South Africans will be holding their breath as the country’s credit rating is announced later today.

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South Africa’s (Potential) Credit Rating Downgrade

In June, Standard & Poor’s (S&P) will make its decision on whether to downgrade South Africa’s credit rating to junk status or not.

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Consumers saved by the National Credit Amendment Act

Are you stuck with debt older than three years? Thanks to the National Credit Amendment Act, debt that are prescribed are no longer legal to collect.

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FNB tops it as the best bank for Internet and mobile banking

A month ago FNB were in hot water with their customers due to a phishing scam, however, they still take the top spot in mobile banking.

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What South Africans should really pay for fuel

Did you know the cost of petrol is really just R7.37 per litre? So what happens to the rest of your money?

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Find a free Wi-Fi hotspot near you

Down to your last 100 megabytes? No need to worry, you can now locate a free Wi-Fi hotspot closeby.

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Pravin delivers stringent budget

Finance Minister Pravin Gordhan, delivered a no-nonsense, no-frills budget speech.

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Build up to Budget 2016

With great anticipation, a nation awaits to hear from newly (re)appointed Finance Minister, Pravin Gordhan, who is set to deliver his budget speech in parliament later today.

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Risky business: Check out five of the most dangerous jobs in South Africa

While sitting in the office, is your biggest risk running out of coffee? Or having NO internet connection when you are on a deadline?

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Dear South Africans: 15 Images That Prove You Live in a Magical Country

Take a moment out of your busy schedule to breathe – take sometime to appreciate South Africa.

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The Top Spots In South Africa This Weekend

It’s that time again kids, the weekend. Here are all the events in South Africa you just can’t afford to miss.

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Back-to-school on a budget

It’s that time of year, parents are tearing their hair out at the stationery lists while kids insist on the latest back-packs and shoes before they head off to school. But how much have you saved?

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Which vehicle finance option is best for you?

Are you struggling to find a car with a vehicle finance plan that suits you?

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Prepare to save for your child's education

Last year’s debacle on increased education fees hit the country by storm, and one can’t help but be concerned about the future generation.

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21st Century Banking and How It Will Change Your Life

Out with the old, in with the new - hello smartphones, goodbye plastic cards. Drastic changes await 21st century banking and that means the next time you enter a shop, it could be a completely different experience.

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Have financial resolutions in place for 2016

If your spending this festive season resembled something of a ‘wild ride’, 2016 could be your year to set financial resolutions.

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A new car or flat? What comes first?

Are you faced with the dilemma of either buying your first car or your first apartment? This is one of the tough financial decisions numerous young people face.

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How To Be Financially Happy In 2016

The holidays are traditionally a time of excess spending and a disregard for finances. Avoid falling for this trap by managing your Christmas spending and start your 2016 financially fit.

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Where's my Christmas bonus?

The end of the year has arrived and many employees' faces will be shining at the anticipation of receiving a Christmas bonus, but this is not always the case.

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SA economy makes U-turn following Gordhan reappointment

South African President Jacob Zuma has named his second minister of finance in just four days, re-appointing former minister of finance, Pravin Gordhan.

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Financial Advice For The Holiday Season

Christmas time can be rough on your bank account. With all the extra expenses straining your finances, the holiday of fun and remembering blessings can become a nightmare instead. This is especially true if you’re already in debt.

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How To Get A Loan If You Are Blacklisted

Contrary to popular belief, it is possible to obtain a loan legally when you are blacklisted. While most banks do not allow this, there are private loan companies who can assist. Being blacklisted, however, will also change the terms of the loan, as your bad credit history registers as a risk to the company. Here’s what you need to know about finding and taking out a loan:

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The Many Benefits Of Financial Calculators

Paying attention to your personal finances should be your number one priority in life. Developing a budget, saving, and managing your retirement fund are all crucial factors in determining your financial future.

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5 Companies You Should Be Investing In Before 2016

2015 is drawing to a close and 2016 is just around the corner. Is making money one of your New Year's resolutions?

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SA's 10 Most Expensive Suburbs

You may be saving your pennies for a couple more years to buy your dream home as we take a look at the 10 most expensive suburbs in South Africa.

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Millenials are skipping the banks, asking family instead

Banks should take note – millennials are getting their advice from friends and family and not banking institutions.

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3 Online Scams Trending in SA

We are all aware that we need to work hard for the things we want in life, whether it be a new house, car or hospital cover for when we really need it.

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Here Are South Africa's 5 Most Expensive Schools

South Africa has some pretty prestigious schools, but they're going to cost you! Here's our rundown of the five most expensive schools in the country.

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Prepare Your Finances For When You Can't Manage Them

There is always the scary realisation that one day you may not be able to manage your finances as you currently do so.

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The Sandwich Generation

A growing trend in South Africa has seen individuals referred to as the 'Sandwich Generation,' supporting both their children and their ageing parents financially.

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Top Stolen Cars in South Africa

When buying an expensive, flashy car in South Africa we often think of the constant worry about safety and the probability of a hijacking, but stats reveal these cars are not always the ones most at risk...

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4 Simple Ways To Teach Your Kids Financial Responsibility

From the moment they are introduced to this world your kids are exposed to advertising and marketing. From television to billboards advertisements, children are encouraged to purchase the latest toys, clothes and technology. And while school may teach them everything they need to know about maths and science, it is the parents responsibility to teach kids about being financially savvy and responsible.

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Why Being An SA Politician Is One Of The Most Lucrative Jobs In The World

Despite high levels of unemployment and crime, and overall poor performance by the ruling political party, South African politicians are among some of the highest paid in the world. In fact, one of the most lucrative job positions in the world is being a South African politician. Read below and find out what some of South Africa’s top earning politicians make.

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Ways To Tell If Your Computer Is Infected With A Virus

For as long as there have been computers, computer viruses have been around making our lives a little more difficult. Over the years computer viruses have become more sophisticated and harder to detect. Nowadays viruses come in Trojans, spyware, worms, adware and many other forms of ‘malware’. Each virus affects your computer differently, this guide will help you to tell if your computer has been infected with a virus, and which virus has infected your computer.

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Money Tips From Some Of The Richest People In The World

Want to make a million but not sure on how to get started? Check out these tips from some of the world’s wealthiest businesspeople, celebrities and self-made millionaires.

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The $1.3 Million Date And Other Online Scams

For as long as the internet has been around, criminals have been using it to take advantage of innocent individuals and businesses. Although the methods have changed and become more sophisticated, the goal remains the same: scamming people out of their money. Below is a list of the 5 biggest internet scams in history, and how much the criminals managed to make off with.

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6 Ways To Recognise A Money Scam

Fraudsters are always coming up with new and devious ideas to scam innocent people out of their money. The only way to safeguard yourself against these schemes is to stay one step ahead of the criminals, below are six useful tips to help you from becoming the victim of a money scam.

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BREAKING NEWS: Paying More For Petrol to Help Expand Nkandla

If you thought you’d heard all there was to know about Nkandla, think again. A recent information leak reveals the real reason behind the recent increase in the price of petrol. Turns out, the government is going to extreme lengths to pay for his home stead.

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Major SA Banks to Accept Smart Card ID Applications

The Department of Home Affairs has announced a project which will make smart card IDs more accessible to citizens. This involves a partnership with major banks in South Africa, who will be facilitating the application and collection of smart IDs.

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Should Eskom Still Hold Monopoly Over South Africa’s Electricity Supply?

With South Africa’s current electricity crisis, the country’s economy is constantly at risk as it is forced to rely on one power supplier, Eskom. Holding monopoly over power plants and transmission, Eskom is the sole generator and purchaser of electricity in South Africa. The utility has failed to meet electricity demands, with various problems plaguing its ability to do so.

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Standard Bank unveils new mobile app

Standard Bank has updated its banking app for smartphones, having originally launched its mobile app in June 2012.

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Gauteng’s big broadband plans revealed

The Gauteng provincial government has begun connecting core sites to fibre.

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Standard Bank in digital wallet venture

Standard Bank has launched MasterCard’s MasterPass digital wallet in South Africa, allowing customers and retailers to pay for goods and services online.

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Google's smartphone technology will help NASA robots navigate the international space station

Google smartphones will take NASA astronaut robots from 2006 tech to the future of space travel, according to Reuters.

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MTN SA launches Visa payments card

MTN has launched a Visa card for Mobile Money users in South Africa, allowing them to pay for goods and services and withdraw money from ATMs.

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Bidvest Business Now Accepts Bitcoin

Invirohub, a South African smart meter developer owned by Bidvest, has incorporated Bitcoin payments into its locally developed smart metering system, allowing consumers to buy electricity using the crypto currency.

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Standard Bank Warns of Increasing Bad Debts

Standard Bank Group , Africa's largest lender, said on Thursday that bad debts have ticked higher in the first four months of this year, the latest sign South African borrowers remain under pressure from a weak economy.

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Banking on Good Customer Service?

Even though mobile applications are becoming increasingly powerful customer touch points, many banks are failing to leverage them in order to engage with consumers. Peter Flanagan, Genesys Regional Director: Southern & Eastern Africa looks at how banks can maintain and strengthen the customer relationship in the mobile channel.

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Cellphone Banking Fraud at Record High

Complaints rise against Capitec, Standard Bank in relation to fraud with cellphone banking.

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Why Facebook is Getting Into Banking

Facebook is aiming to capitalise on what is deemed as the most expensive 'corridor', which runs from SA to Zambia through electronic banking.

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SA’s ‘very scary’ online fraud numbers

Online fraud is escalating at alarming levels in South Africa, according to a new research survey.

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Capitec Displaces FNB as Top Online Bank

A new survey shows consumers are most satisfied with Capitec’s online banking facilities, displacing FNB, while Absa languishes in last place for the third year in a row.

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Warning Over Fake Wonga Loan Scam

An email scam is using the name of short-term loan company Wonga Finance SA to trick people out of their money, Western Cape police said on Tuesday.

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Banking CEO Salaries Climb Even Higher

Chief executives in charge of South Africa's largest consumer banks command some of the largest salaries in the country.

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Banking Cyber Crime on the Rise

A group of top U.S. regulators on Wednesday warned about the threat of rising cyber-attacks on bank websites and cash machines, urging the industry to put proper measures in place to guard against fraud.

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Mild Slowing in House Price Growth Seen Later in 2014: John Loos - FNB Home Loans

MoneyWeb radio host, Hilton Tarrant, interviews John Loos, FNB's Home Loan Property Sector Strategist, who suggests you might do well to wait a few months before buying a home.

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Land Bank Sues ANC Heavyweights

The state-owned Land Bank has brought a claim against several ANC heavyweights, high-ranking government officials and property mogul Roux Shabangu, The Sunday Independent reports.

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Slowdown in Unsecured Credit Balances

The downward trend in the growth in household credit balances has largely been driven by a slowdown in growth of unsecured credit balances.

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Your Rights When Debt Collectors Hound You

Know your rights when debt collectors are knocking on your door and how to protect yourself against the matter getting out of hand.

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Know Your Credit Status This Consumer Rights Month

The National Credit Regulator (NCR), and the Credit Ombud have joined forces to urge all consumers to know their credit status as part of World Consumer Rights Month.

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Demand for Affordable Housing Increase

FNB says there has been an increased demand for affordable housing (income of R3500 to R25 000 per month) in South Africa.

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Quick Links

Oscar Pistorius to be sentenced this week
Oscar Pistorius is due to be sentenced this week in the High Court in Pretoria. Proceedings will start at 9:45am.
Dlamini claims SA can survive on R753 a month
According to Minister of Social Development, Bathabile Dlamini, South Africans can live off R753 a month. A little rich coming from someone who earns just over R2 million a year.
South Africa’s economic fate is in the hands of ratings agency
South Africans will be holding their breath as the country’s credit rating is announced later today.
South Africa’s (Potential) Credit Rating Downgrade
In June, Standard & Poor’s (S&P) will make its decision on whether to downgrade South Africa’s credit rating to junk status or not.
Consumers saved by the National Credit Amendment Act
Are you stuck with debt older than three years? Thanks to the National Credit Amendment Act, debt that are prescribed are no longer legal to collect.
Ponzi Schemes explained
Have you ever come across an “Investment plan” that promises extremely high returns per year, guaranteed? Chances are you will lose your money.