The Australian Financial Complaints Authority (AFCA) is open and ready to take complaints from consumers and small businesses from today (1 November 2018).

If any consumers or small businesses have an unresolved complaint about a financial product or service they can contact AFCA for free. AFCA will then independently investigate the complaint.

Consumers and small businesses can make a complaint online at afca.org.au, at info@afca.org.au or by Freephone 1800 931 678.

AFCA will work with complainants and financial firms to reach fair outcomes, with a focus on delivering accessible services to meet diverse community needs, and a commitment to independent and impartial decision making.

Launching AFCA today, independent Chair, the Hon. Helen Coonan says, “AFCA will play an important role in restoring trust in Australia’s financial institutions in the wake of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

“We will influence reform in the financial services sector by raising standards and improving internal practices to reduce and resolve disputes.”

AFCA Chief Executive and Chief Ombudsman, David Locke added, “AFCA will provide Australians with services that are easy to use, free and efficient. We will use a range of skills including conciliation and negotiation to find fair solutions for all the parties. Where matters cannot be settled then we will make timely and impartial determinations based upon the evidence. Any determinations of AFCA, if accepted by the consumer or small business, is binding on the financial services firm involved.”

“The official opening of AFCA’s doors is a significant milestone for the financial services sector and the consumers and small businesses who use these services every day.”

Published: 1 November 2018

Media enquiries media@afca.org.au

About AFCA

The Australian Financial Complaints Authority (AFCA) is a non-government ombudsman service providing free, fair and independent help with financial disputes. It is a one-stop-shop for consumers and small businesses who have a dispute with their financial firm, over things such as banking, credit, insurance, advice, investments or superannuation. Where an agreement cannot be reached between parties, AFCA can issue decisions that are binding on financial firms.