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banking
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British Bank Accused Of Laundering $250 Billion For Iran Regime
07 Aug 2012 by Jasmine Stone / No Comments
US regulators have accused British bank, Standard Chartered, of behaving like a “rogue institution” and of laundering $250 billion from Iran, hiding the transactions for over a decade, a violation of US sanctions.
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FNB Customers Can Now Draw Cash From Supermarket Tills
20 Jul 2012 by Jasmine Stone / 2 Comments
FNB, trying to get relief from foot traffic in its branches, is now offering cash back at Pick n Pay and Shoprite Checkers. This move comes as government is placing increased pressure on banks to reduce transaction and banking fees.
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Coming Soon: Facebook Bank
12 Jul 2012 by Jasmine Stone / 2 Comments
Facebook may in the future be doing for your banking what it’s done for your online privacy in general. Who doesn’t want to be able to pay their bills while at the same time looking at photos of their friends at that braai that got a little out of hand?
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Could The LIBOR Scandal Be “The Biggest Consumer Fraud In History”?
12 Jul 2012 by Jasmine Stone / No Comments
Over the past few weeks we’ve brought you several reports regarding the increasingly worrisome LIBOR scandal. The investigation into interest rate-rigging debacle is quickly snowballing and analysts have now begun wondering if “16 of the world’s largest banks have perpetrated the biggest fraud in history.”
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There’s A Karl Marx Credit Card Now
18 Jun 2012 by Jasmine Stone / No Comments
Well, I guess it was only a matter of time before the word ‘irony’ stopped being able to quite cover it. The German bank Sparkasse Chemnitz have launched a Karl Marx credit card, after the father of Communism won in an online voting poll for new credit card designs. Somewhere a grave is spinning.
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South Africa’s ATM Fees Tops List Of 27 Countries
15 Jun 2012 by Jasmine Stone / 4 Comments
A recent survey has found that South Africa has the highest ATM withdrawal fees out of a group of 27 countries which includes the likes of the United Kingdom and the USA.
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FNB Slashing Prices And Reducing Fees
08 Jun 2012 by Jasmine Stone / 8 Comments
Kicking off on 1 July, FNB will no longer charge for card purchases on a number of their accounts and will also reduce fees by up to as much as 11% in certain cases. Click through for the full breakdown.
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FNB’s GeoPayments Will Be How You’ll Pay For Stuff Now On
14 May 2012 by Jasmine Stone / No Comments
Look at this technology. Just look at it. What prevents you from making EFT payments for absolutely everything in your life? It’s the clunkiness of the process. You log on, you enter a ream of details, you wait for confirmation code, you pay… And the recipient waits two days for their money. Whereas a cash […]
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Most SA Internet Users Now Bank Online, Most Banks Yet To Catch On
23 Apr 2012 by Jasmine Stone / 3 Comments
Recent research confirms that the vast majority of South African internet users bank online, but that banks have been very slow to make use of digital channels to meet customers’ needs. A study by market research firm Columinate, which assessed consumer internet banking behaviour and satisfaction levels, suggests there is plenty of room for improvement for banks trying to connect digitally with their customers.
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Bank War Continues As FNB Disputes Standard Bank’s Pricing Announcement
27 Mar 2012 by Jasmine Stone / No Comments
A month ago the battle between FNB and Standard Bank was just heating up. Following Standard Bank’s complaints about FNB’s “misleading” advertising in February, the banks remain at loggerheads. In recent days FNB has lodged a complaint with the Advertising Standards Authority (ASA) about its competitor, which it says is now attempting “to sell nonexistent products”.
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Standard Bank Complains About FNB On Twitter, Receives Backlash From Public
24 Feb 2012 by Jasmine Stone / No Comments
We’ve told you a lot about the shenanigans of SA’s Big Four banks recently. Yesterday a Twitter storm erupted around Standard Bank and FNB, with the former accusing FNB of misleading advertising. The irony? The mud-slinging quite quickly turned in the direction of Standard Bank, with Tweeters taking FNB’s side. Here’s a snapshot of what happened.
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Goldman Sachs Getting Rid Of Potted Plants To Lower Overheads
22 Aug 2011 by Jasmine Stone / 1 Comment
This makes total sense. Apparently the upkeep of plants in Goldman Sachs’ London offices are costing the bank tens of thousands of pounds per annum, which is why the head offices have ordered many of the plants to be removed. It’s nice to see that these guys can make the big sacrifices when they have to.
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