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Most of the time there are certain procedures or processes that need to be followed or parties that need to be contacted:

Frequently Asked Questions

If you have any banking related enquiries please read through our frequently asked questions to assist. If you are unable to find a suitable solution please complete our help form and we will get back to you as soon as possible.  

  • How do I lodge a complaint with my bank
  • It is important that clients try to the best of their ability to try and resolve issues before lodging a complaint with the Ombuds for Banking Services. Clients will need a reference from the bank before lodging their complaint – refer to

  • How do I open a bank account

    Opening a bank account is simple. Choose the bank you would like to bank with and ask to a consultant. Please note that to open a bank account the following documents are required:

    1. A valid South African ID
    2. Proof of residence (at least 3months old)
    3. At least 3 months’ payslips
    4. A minimum deposit of R50
  • What are the minimum and maximum bank charges my bank can charge me?

    All bank charges are bank specific. Although banks in South Africa need to follow criteria set by the South African Reserve Bank (SARB), we do not actively determine bank charges. For this reason it is vital you speak to your bank to help you select the best bank account/product for your banking needs and budget.

  • Can The Banking Association South Africa provide funding for Sponsorship

    The Banking Association is a not-for-profit organisation and as such does not provide sponsorship.

  • What are my rights as a bank client

    The Code of Banking Practice covers the rules governing the rights of the bank client.

  • what do I do if I am blacklisted

    You will need to contact the institution which placed you on the system to resolve the issue.

  • How do I deregister from REDS

    You will need to contact the institution which placed you on the system.

  • How do I register a bank

    All banks trading in South Africa need to be registered with the South African Reserve Bank. Please contact them on  for more information.

  • Criteria for membership of The Banking Association South Africa

    Membership to The Banking Association South Africa is open to any bank which is duly registered with the South Africa Reserved Bank (SARB) according to their rules and regulations.

  • How do I report bank fraud
  • To report all bank fraud or ATM crime please contact the South African Bureau for Risk Intellegence Centre (SABRIC) –

  • What do I do if my bank account has been blocked/frozen?

    All banks in South Africa operate independently, therefore, you will need to contact your bank directly to gather information on the block on your account and what remedies you need to follow to resolve the issue.

  • Does The Banking Association provide any training programmes?

    No The Banking Association South Africa does not offer training programmes. For such programmes please visit the banking industy’s SETA –

  • What is FICA?

    Financial Intelligence Centre Act (FICA) The FICA Act came into effect on 1 July 2003 to counter financial crime, such as money laundering, tax evasion, and terrorist financing activities. Bank clients need to re-FICA every five years by going through to their bank with the following documents:

    1. Smart ID card or identity document
    2. A certified copy of your ID book
    3. A utility bill as proof of address/residence (not more than 3 months)
  • What are interest rates?
  • Interest rates are the proportion of a loan that is charged as interest to the borrower. Interest rates are essentially the rental cost of the asset in use. Interest rates are typically noted on an annual basis. The interest rate is calculated by dividing the amount of interest by the principal (loan amount) and may vary from bank to bank.



© The Banking Association South Africa 2019