How to lodge a financial complaint with AFCA
You can lodge a complaint with the Australian Financial Complaints Authority (AFCA) against a bank, insurer, financial advisor, super fund trustee, or credit provider after first giving the firm 30 days (or 45 for super) to resolve an internal dispute resolution (IDR) complaint. AFCA operates under Part 7.10A of the Corporations Act 2001 (Cth) and its AFCA Rules. The service is free to consumers.
The framework
AFCA is the external dispute resolution (EDR) scheme authorised under Part 7.10A of the Corporations Act 2001 (Cth). It operates under the AFCA Rules and the AFCA Operational Guidelines. Determinations bind the firm up to the monetary limits.
The process
Lodge an internal dispute with the firm
AFCA requires you to first complain to the firm through its internal dispute resolution process. Regulatory Guide 271 (ASIC) requires a response within 30 days (or 45 for superannuation complaints).
Get the final IDR response
Wait for the firm's final IDR response or for the 30-day deadline to pass. The response letter sets out the firm's position and informs AFCA what remains in dispute.
Check you are within AFCA's jurisdiction
AFCA covers most consumer and small business matters, subject to the monetary limits in the AFCA Rules. Some disputes — property lending over $5M, commercial insurance over certain thresholds — may be outside jurisdiction.
Prepare your evidence
Collect the contract, PDS, statement of advice, statements, calculations, emails, and the IDR correspondence. Evidence drives credibility and outcome.
Lodge the AFCA complaint online
Complete the form at afca.org.au. Provide the firm's details, product, dispute summary, loss calculation, remedy sought, and upload evidence. You get a reference number immediately.
Registration and referral back to the firm
AFCA registers the complaint and gives the firm 21 days to try one more time to resolve it. Many complaints settle at this stage.
Case management and negotiation
If unresolved, AFCA allocates a case manager. They exchange submissions, ask clarifying questions, and facilitate negotiation. Parties are expected to engage in good faith.
Preliminary assessment
AFCA issues a non-binding preliminary assessment setting out its view on the facts and law. If both parties accept, the matter resolves. If either rejects, it goes to determination.
Determination by an Ombudsman or Panel
An AFCA Ombudsman or Panel issues a written determination. It is binding on the firm if the complainant accepts it. Determinations can award compensation up to the Rules limits (generally $1.2M for direct loss; higher for small business).
Accept, reject, or escalate
If you accept, the firm must comply. If you reject, you can take court action. Complaints about scheme conduct (not outcomes) can be raised with the AFCA Independent Assessor.
Common mistakes
- Lodging with AFCA before completing the 30-day (or 45-day) IDR process
- Not quantifying the loss in the complaint form
- Confusing AFCA with ASIC (regulator) — they serve different functions
- Relying on oral communications without written evidence
- Missing the 6-year AFCA time limit from when the issue arose
Get this process right with Quillio
Quillio can help draft the IDR complaint, structure the AFCA complaint with calculations and evidence, and prepare responses to AFCA requests. See /practice-areas/financial-services-law or start a free trial.
This guide is general information, not legal advice. AFCA determinations bind the firm; you retain the right to go to court if you reject the determination. Free help is available from community legal centres and financial counsellors.
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