Clothing Store Account Insurance Policies

The FAIS Ombud warns account holders to check their clothing store account statements for insurance policy deductions that they may not recall authorising. The Office has received a number of complaints against a clothing retailer regarding disputed funeral policies. In some cases, the deductions continue for years before being noticed by the consumer. Consumers have submitted that they did not know about the funeral policies or were told it was a free benefit for account holders.

Consumers must listen carefully to what they are told by a salesperson and be very wary of products being sold or added to their accounts. Do not be pressured or misled into adding any products you do not need or want to your account. If you have any doubts, do not agree to any added product or policy. One can always add products and policies at a later stage if necessary or required.

The Financial Services Provider must be able to prove that the consumer consented to the policy and the monthly premium. If it is unable to do so, the policy must be cancelled and the premiums refunded to the clothing account.

Consumers are encouraged to:

Review statements: Review statements regularly to identify any discrepancies in amounts, particularly those related to insurance policies they did not authorise.

Check balances: It is important to check your purchase and the amount due to ensure that there are no hidden fees.

Question Suspicious Charges: If there are any suspicious charges that a consumer is unaware of, contact the retail store for clarification.

Seek Resolution: In the event of a dispute or dissatisfaction with the response received, consumers are encouraged to lodge a formal complaint with the retail store.

Should you believe that you have been financially prejudiced because of the financial service rendered to you with respect to a regulated financial product, please lodge a written complaint directly with the service provider. If the complaint remains unresolved after six weeks, you can visit our Complaints Portal at and select ‘Lodge Complaint’. Alternatively, you may submit a complaint in writing to You can also call our Client Care Centre at (012) 762 5000 or Sharecall at 086 066 3274 for assistance in submitting a complaint.