The right to choose
This is a basic consumer right that is continuously undermined when it comes to financial services. Consumers all over the world are getting a raw deal, but often find it difficult to shop around for a better option.Without a strong incentive to offer more choice and better service, banks and other financial institutions are not competing with each other to offer better value.
In turn, consumers find it difficult to move their money and are trapped in bad deals. This problem applies to all sorts of financial products and services - from bank accounts to global money transfers - and it repeated the world over. It's clear that more needs to be done to promote choice and competition in financial services.
- Discover why the consumer right to choose is all about holding businesses to account
- Find out more about the barriers to choice in financial services (pdf)
15 March 2012 is the 50th anniversary of John F. Kennedy's statement on consumer rights - he was the first ever leader to define what consumer rights should mean.
- Learn more from CI's Director General about the future of JFK's vision for consumer rights
CI's member organisations across the world are taking action to call for meaningful choice for consumers - whether it's switching banks, buying insurance or transferring money overseas.
- See what consumer rights groups are doing for World Consumer Rights Day on our global activity map
- Find out why switching your bank might be easier that you think
The National Consumer Forum (NCF) is an individual-based membership consumer organisation, the most active organisation in South Africa. The main activities of NCF are: the printing and distribution of the country only consumer magazine, 'Consumer Fair'; ...
