Become a Scheme Member

Thank you for considering membership of the Financial Dispute Resolution Service (FDRS).

FDRS is one of the approved dispute resolution schemes of the finance sector under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. But we think we are more than just a dispute resolution scheme.

FDRS started out 1 October 2010 as the reserve scheme for the finance sector and was operated by FairWay Resolution Limited (FairWay) for the government. FDRS gained approval to be an approved scheme and acquired the intellectual property of the reserve scheme when it was disestablished by the government 30 June 2014. The brand “Financial Dispute Resolution” was retained and conferral of entitlements and jurisdiction meant for a seamless hassle-free transition for reserve scheme members.

FDRS membership is available to any type of financial service provider (FSP) supplying a financial service to a retail client from a place of business in New Zealand. FSPs need to belong to an independent dispute resolution scheme to provide a registered financial service in New Zealand. 

Membership of a dispute resolution scheme is a requirement of registration as a FSP.

Our primary purpose is to help consumers and FSPs resolve issues before they escalate to disputes which need to be managed under its dispute resolution service.This section of the website provides of the information about:

We appreciate your interest and look forward to establishing a long and beneficial relationship with you.


Related links

FAQs answer some of the common questions about FDRS.

How FDRS works explains both the dispute resolution process and the requirements on members.

Search for Scheme Members lists all of the organisations and individuals that are currently FDRS members.

 

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