If your bank has phoned about arrears, frozen your credit card, or mentioned the words "debt review", you probably have one practical question: what happens now, and who do I actually speak to? Most people assume the bank runs debt review. It does not. Your bank is a creditor, the same as any other, and debt review is the process that sits above all your creditors at once. Here is exactly how FNB, Standard Bank, Absa, Nedbank and Capitec each behave when you enter debt review, the contact details that are useful, and the accounts you keep versus the ones that get restructured.
Your Bank Is a Creditor, Not Your Debt Counsellor
This is what confuses people most. Debt review is run by an independent NCR-registered debt counsellor, not by any bank. The counsellor looks at everything you owe, works out what you can realistically afford after living costs, and proposes one reduced monthly payment that gets split between all your creditors. Your bank then sits on the receiving end of that proposal alongside your retail accounts, your vehicle finance, and anyone else you owe.
So when a bank consultant says "we can put you under debt review", what they usually mean is that they will refer you to a debt counsellor. You do not have to use the one they suggest. You choose your own, and it is worth choosing well, because that person manages your money for the next few years. Our guide to the top debt review companies in South Africa walks through how to compare them.
What Happens to Each Type of Account
The single biggest worry is usually "will I lose access to my bank account?" The short answer is no, not your everyday transaction account. The longer answer depends on the type of account:
| Account type | What happens under debt review |
|---|---|
| Cheque / savings (transaction) account | Stays open. Your salary still goes in and you still bank as normal — it is not a credit agreement. |
| Credit card | Limit frozen, card cannot be used for new spending. The balance is restructured into your single monthly payment. |
| Overdraft | Frozen and restructured. You cannot draw below zero anymore. |
| Personal loan | Restructured. The bank stops separate collection once notified. |
| Vehicle finance | Restructured and protected, so the bank cannot repossess while the review is in good standing. |
| Home loan | Restructured and protected, so the bank cannot start repossession while you keep up the agreed payment. |
Keep one account clean. Many people open a basic transaction account at a bank they owe nothing to before starting debt review, so their salary lands somewhere with no credit history attached. It is not required, but it removes any worry about a bank setting off arrears against money in the same account.
How Each Bank Handles Debt Review
The legal process is identical at every bank, because it all runs under the National Credit Act. What differs is which department you land in and how quickly they respond. Below is what to expect at each of the big five, plus the lines that are commonly listed for their collections or debt-care desks. Phone numbers change, so always confirm the current one on the bank's own website before calling.
Standard Bank Debt Review
Standard Bank routes debt review and arrears through its debt-care centre rather than the normal banking call centre. They are generally one of the more process-driven banks once your debt counsellor sends the formal notification. Commonly listed lines are 0861 111 525 and 0860 111 400. Your counsellor will deal with this desk directly, so you usually do not need to.
FNB Debt Review
FNB freezes credit facilities quickly once a review is logged, so do not be alarmed if your credit card or overdraft stops working soon after you apply. That is the system doing what it should. The commonly listed collections line is 087 730 1100. As with the others, the cleanest path is to let your debt counsellor handle the FNB notification so the freeze and the restructure happen together.
Absa Debt Review
Absa handles a high volume of debt review files and its collections and home-loan restructure teams are used to the process. Commonly listed lines are 0860 111 007 and 0861 222 272. If you have an Absa bond specifically, the restructure desk for home loans is the relevant one, and your counsellor will route the file there.
Nedbank Debt Review
Nedbank works through its collections and restructuring teams, with a separate desk for home-loan assistance. A commonly listed line is 0860 555 111. As with every bank here, once the Form 17.1 goes out, Nedbank is legally on notice and must work through your counsellor rather than chase you separately.
Capitec Debt Review
Capitec is the most common single creditor we see, because so many South Africans hold a Capitec credit facility or personal loan. The account itself stays open for everyday banking even while your Capitec credit agreement is under review, which suits people who use Capitec as their main transaction account. The general line is 0860 102 043. Confirm the current debt review or collections routing when you call.
Why You Should Not Negotiate With Five Banks Alone
You can try to arrange your own payment plan with each bank. People do. The trouble is that every bank negotiates for itself, with no obligation to match what another one agreed, and none of it is legally binding. Miss a single arrangement and that bank can still take you to court. Debt review fixes the lot at once: one affordable payment, one legal framework under the National Credit Act, and a court order that binds every creditor, all your banks included.
It also protects your assets. While your review is in good standing, no bank can repossess your vehicle or start a sale in execution on your home. That protection is the whole point, and it only exists once you are formally under review. If a bank has already sent you a Section 129 notice, time matters, so do not wait.
Watch the timing. If a bank has issued a summons or a Section 129 letter of demand, you can still enter debt review, but the window narrows once legal action is underway. The sooner your counsellor notifies the bank, the more of your accounts stay protected.
Not sure whether your situation needs debt review at all? Run the free debt review calculator to see your restructured payment, or read what debt review is and how it works.
Reviewed by a registered debt counsellor, NCRDC2423. Bank contact numbers are provided for convenience and were correct at the time of writing; always confirm the current number on the bank's official website.
Frequently Asked Questions
Does my bank do my debt review?
No. Your bank is one of your creditors, not your debt counsellor. Debt review is run by an independent NCR-registered debt counsellor who negotiates with all of your creditors at once, including your bank. The bank's role is to accept the restructured payment proposal and stop separate collections while the review is active. If a bank consultant suggests you 'apply for debt review through us', they are usually referring you to an external debt counsellor anyway, and you are free to choose your own.
What happens to my FNB / Standard Bank / Absa accounts under debt review?
Your credit accounts (credit card, overdraft, personal loan, vehicle finance, home loan) are included in the review and their repayments are restructured into one reduced monthly amount. The bank freezes the credit limits, so you cannot draw further on a credit card or overdraft while under review. A cheque or savings transaction account usually stays open for everyday banking, because it is not a credit agreement. Your salary can still be paid into it and you still use your card for purchases with your own money.
Which number do I call at my bank about debt review?
Most banks route debt review through their collections, debt-care or restructuring desk rather than the normal call centre. As at 2026 the commonly listed lines are Standard Bank 0861 111 525, Absa 0860 111 007, Nedbank 0860 555 111 and FNB 087 730 1100. Numbers change, so confirm the current one on the bank's own website before you call. In practice your debt counsellor contacts these departments on your behalf once your review starts, so you rarely need to call them yourself.
Can my bank refuse my debt review?
A bank cannot stop you entering debt review. Once your debt counsellor issues the Form 17.1 notification, every credit provider is legally notified and the protections of the National Credit Act apply. A bank can dispute the specific restructured amount your counsellor proposes, which is then resolved through the magistrate's court when the order is granted. What a bank cannot do is ignore the process or keep pursuing you separately for the same debt once it has been formally notified.
Should I deal with my bank directly or use a debt counsellor?
Negotiating with five different banks on your own, each with its own collections department and its own attitude, is exhausting and rarely gets you the same result. A registered debt counsellor deals with all of them at once, applies one legal framework, and gets the whole arrangement confirmed by a court so it is binding on every creditor. If your debt is across more than one bank or includes retail and vehicle accounts as well, a counsellor is almost always the faster and safer route.
