Welcome to the South African Unauthorised Debit Order Survey Results Presentation brought to you by by Genius Level. This survey is a comprehensive overview of the average number of unauthorised debit orders that South Africans experience.
Disclaimer: The results of this survey represent the views of the individuals who participated in this survey. Much thanks to Mzanzi Humor page for assisting in distributing the survey to their many followers. In our view our sample size is sufficient enough to warrant statistical analysis.
I recently had unauthorised debit orders go through on my account – by recent I’m taking 3 months, I had picked up that there were weird small amounts that kept going off usually around the 28th and 29th of each month. Strategically set up because that’s the usual time in the month that people get paid and have debit orders go through. I thought it would be interesting to gather data of individuals who have had similar experiences. So here we go…
Of all the people who’ve had unauthorised debit orders go through, 90% of them say it has happened more than once and only 10% had it happen once. In most cases, if the debit order goes unnoticed or ignored the scammers are bound to hit again.
We asked survey participants as to which bank they were with when the unauthorised debit orders went through. FNB takes the top spot here, with Standard bank coming in second and Absa along with Capitec coming it 3rd.
We asked survey participants if the bank they were with was helpful in having the issue resolved, only 19% said yes, 33% said ‘somewhat’ and 47% said no; somewhat of a let down if you ask me.
We went further and broke down the previous slide into the related banks. The bank with the highest number of positive reposes is FNB with 29% and the bank with the worst service in terms of assisting clients is Capitec with 64%.
On this slide we summarised the unauthorised debits orders into categories of value ranges. Scammers usually debit amounts lower than R100, with 50% of all unauthorised debit orders under R100
Only 38% of survey participants ended up getting their money back, 26% say they got a portion of it and 36% said they did not get any cent back.
As per above, we summarised the results of survey by age group; we can clearly see that the most targeted age group is 26-30 at 40%, followed by 25% for 31-35.
We asked survey participants as to which is the worst bank they have ever been with. 26% 32% said non, 1% said all of the banks. The top 3 banks rated as the worst are ABSA, Standard Bank and FNB respectively.
We asked survey participants that if they were to change their banks, which is the most likeliest bank they would go with. 32% said they wouldn’t change. 22% said Capitec, 17% went with FNB and 10% Nedbank. We all know Capitec has the lowest bank charges and also the most convenient operating times, so makes sense why most would go with it.
The below names refers to the Companies that came up when we asked participnats to state the names of the entities that debited them. 61% said they had forgotten, the top 3 names that came up the most are Assura Sage, Value Added Rewards and Cell C.
This survey was proudly brought to you by Genius Level!!
Let Your Ideas Outlive You….
To get in-touch with us, you can drop us an email on info@geniuslevels.com
