What can we help with?
FSCL is one of four financial dispute resolution schemes in New Zealand. We are free, fair, independent, and here to help you. You can call us for help and we will make sure you get to the right place.
Complaints we can help with
We look at complaints about most financial services and products including:
- Loans and credit
- Insurance
- Financial planning
- Financial advice and investments
- Insurance, mortgage, and finance broking
- Stock broking
- Superannuation funds
- Managed funds
- Funds transfers
- Foreign exchange
- Card services
Typical complaints are:
- Misleading information or inappropriate advice
- Non-disclosure of fees and/or terms of the contract
- Debt recovery and repossession action
- Decline of an insurance claim
- Suitability of product for the consumer’s needs
- Transaction disputes.
We are able to investigate claims for amounts up to $500,000.
We can only consider complaints about providers who are members of FSCL. Your provider may belong to FSCL, but they may belong to one of three other dispute resolution services:
- Banking Ombudsman Scheme (BOS)
- Insurance and Financial Services Ombudsman Scheme (IFSO)
- Financial Dispute Resolution Service (FDRS)
Even if you’re not sure which scheme your provider belongs to, get in touch. If your provider does not belong to FSCL, we will refer you to your provider’s dispute resolution service.
Complaints we can’t help with
We can deal with complaints about a wide range of financial matters, but there are some types of complaints we cannot help with. It is usually best to phone us so we can talk through with you whether or not we can help.
Some examples of situations where we may not be able to help are where the complaint is about:
- a participant’s commercial judgment in a lending, security or insurance matter, although we can look at complaints about maladministration in a lending, security or insurance matter.
- events occurring before 1 April 2010
- a loss exceeding $500,000.
