Consumers trust banks but it helps to be married
Survey finds many people admit they don't understand financial products such as medical aid and store cards
03 August 2023 - 19:28
Most consumers view banks and insurers favourably, the first survey of consumers by the Financial Sector Conduct Authority (FSCA) found, but married women often have trouble cancelling accounts or policies without their husbands’ signatures or intervention.
Many of the findings were positive, with consumers reporting high trust in banks, but at the same time people admitted they didn’t read the terms and conditions of policies and didn’t understand financial products such as medical aid or store cards. ..
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