Financial Services – Types of Complaints

Customers may be dissatisfied with their Financial Services (FS) provider concerning:

  • Products
  • Services
  • Staff
  • Or with the handling of complaints.

This dissatisfaction may occur in many different types of financial services:

  • Financial advice
  • Loans and credit
  • Insurance 
  • Deposits and payments
  • Superannuation
Due to new regulatory guidance, the financial service provider must know about it.

Some examples:

  • Fees, charges, premiums or commissions were incorrectly applied or calculated;
  • The advice given to you was inappropriate, insufficient or not in your best interests; 
  • Instructions were not followed;
  • Decisions that your financial firm has made;
  • Transactions that were incorrect, unauthorised, or mistaken payments;
  • Information that was not disclosed about a product or was misleading or incorrect; 
  • Financial difficulties and you are unable to make repayments; and
  • Privacy and confidentiality breaches.