4 External Dispute Resolution

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We are members of the Australian Financial Complaints Authority (AFCA).

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If your complaint remains unresolved after our response you may lodge a complaint with AFCA.

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If you lodge a complaint with AFCA prior to giving us the opportunity to resolve your complaint AFCA may refer your complaint back to us before they can consider it further.

 

AFCA can help you with:

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• independent consideration of your complaint or dispute at no cost to you

• impartial consideration of your complaint 

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You can lodge a complaint or dispute with AFCA electronically at https://www.afca.org.au. After your complaint has been lodged a case officer from AFCA will contact you to discuss your complaint and how it may be resolved.

 

If your complaint falls within their jurisdiction they will attempt to facilitate a negotiated settlement between you and us. If a negotiated settlement cannot be reached, AFCA will make a determination.

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When you contact AFCA you will be discussing your complaint with an independent body:

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• if you make a complaint or dispute the only cost to you is a local phone call

• you do not lose any of your legal rights

• you are not bound by any decision that AFCA makes if you do not agree with the outcome

• your participation in the EDR process is voluntary and you may withdraw your complaint at any stage

 

Please note that there are instances where the AFCA does not have the capacity to investigate a complaint. These include:

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• something a Financial Services Provider (FSP) has done but which is not directly related to the financial service provided by the FSP

• someone who is not a participant of the AFCA scheme

• a fee, charge, commission or interest rate (unless your complaint is about the non-disclosure, misrepresentation, miscalculation or incorrect application of the fee, charge, commission or interest rate, or if the charging of any of these is in breach of the law or is unconscionable)

• the policies or commercial judgement of the FSP or someone other than the FSP, examples of which are:
  - a lenders assessment of risk or of financial or commercial criteria
  - a lenders decision to refuse a loan application or the release of part of the security for the loan or to approve either of them subject to conditions
  - interest rates and fees charges by the lender
  - a lenders policy to require mortgage insurance

• issues where six years have elapsed since the time you first become aware, or should reasonably have become aware, of the loss you claim you suffered as a result of the issue(s)

• ​issues that have already been dealt with by a Court, Tribunal, Arbitrator or another ASIC approved EDR scheme

 

If any issue has not been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers.