Australian Financial Complaints Authority (AFCA) opens for business

1 November 2018

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

Source: Australian Financial Complaints Authority Limited

You can alternatively contact the AFCA at:
Online: www.afca.org.au
Email: info@afca.org.au
Phone: 1800 931 678 (free call)
Mail: Australian Financial Complaints Authority Limited
GPO Box 3, Melbourne VIC 3001

 

Any advice that may have been given is general advice only, please be aware that we have not taken into consideration your needs, objectives or financial requirements. Before deciding to purchase a financial product you should consider the appropriate Product Disclosure Statement to ensure the product is suitable for your needs.

Insure 247 Pty Ltd ACN 612944215 is an Authorised Representative of Ausure Pty Ltd ABN 94 096 971 854 AFSL 238433.

 

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