Frequently Asked Questions - 2. Complaint types

There are some areas and actions that FDRS does not cover:

  • The performance of financial investments.
  • A scheme member’s fees, unless there is a dispute about how they have been applied.
  • The scheme member’s general policies and practices, although a complaint can be made about how these policies were applied or administered.
  • The maximum compensation than can be awarded is $200,000. Complaints can be brought to FDRS that involve more than $200,000, but maximum compensation limit still applies.
  • FDRS cannot consider a complaint that has been made in another forum; a complaint that has already been considered by FDRS; if a complaint where a reasonable settlement offer has already been made, or if FDRS decides the complaint is frivolous or vexatious.

FDRS cannot consider disputes about fees and fee levels generally. If a consumer believes a financial service provider has applied an incorrect interest rate – in error or in breach of a contract – FDRS may consider the complaint.

No. FDRS rules do not apply to a scheme member’s judgement in relation to lending or security. FDRS cannot make a scheme member provide services or advice. However, if you think you have been given the wrong advice about a loan, FDRS may be able to help you.


Any complaint made to FDRS must be about an issue or action that took place after 1 October, 2010, or from the date that a financial service provider joined FDRS.

There is also a time limit about the amount of time between a consumer receiving a deadlock notice, and making a complaint to FDRS.

A consumer must bring a complaint to FDRS within three months of getting either a decision notice or deadlock notice from their financial service provider.

The complaint must be made to FDRS within two years from when the complaint was first raised with the financial service provider.

A complaint is not covered by FDRS if it involves events that occurred more than 6 years before the complainant made the complaint to the member

Yes. This form is available to make a complaint about FDRS. FDRS is governed by an Advisory Body, and is bound by law to pass on all complaints about its service and conduct to the Advisory Body. The Advisory Body reviews all complaints, and will make contact with the consumer directly after receiving the complaint.

FDRS can consider disputes about a person’s credit rating. It can investigate whether the information is correct, and if the financial services provider who provided the information complied with the relevant laws.