Bank adverts found to be misleading

2012-04-27 09:08
Johannesburg - Both Standard Bank and First National Bank have been found guilty of misleading advertising, according to a report on Friday.

Last month the banks accused each other of ambiguous and unsubstantiated marketing and both approached the Advertising Standards Authority (ASA) over adverts they believed were misleading to consumers, the Star newspaper reported.

FNB was found to be misleading the public for its claim that its Smart Zero account was the "first bank account in South Africa with a zero monthly fee".

It found that other banks had offered this service in the past, including Standard Bank.

The authority also found that Standard Bank's posters which read: "free cellphone banking, free telephone banking, and free internet banking", were misleading as it did not inform consumers that certain costs applied, like a subscription fee.

Read more on:    fnb  |  standard bank

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Financial advisors – Do you need one and should you get one?

The good, the bad, and everything else you need to know when considering hiring a financial advisor.


Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.