Banking, finance and insurance

The next steps to take if you are unable to resolve an issue with a bank, insurer or financial services provider.

Who do I go to?

Financial Markets Authority (FMA)(external link) is the financial market’s regulator.

The Commerce Commission(external link) for complaints about unfair or misleading conduct under the Fair Trading Act and breaches of the Credit Contracts and Consumer Finance Act (CCCFA).

The NZX(external link) for complaints about listed companies or NZX market participants.

Dispute resolution schemes

Insurance and Financial Services Ombudsman (IFSO)(external link) for complaints about insurance, loans or credit, superannuation, financial advisors, investments or other financial services provided by their IFSO participants.

Financial Services Complaints Limited (FSCL)(external link), not-for-profit external dispute resolution scheme, for complaints any aspect of financial services provided to you by an FSCL member. See here (external link)for their video clip about their services.

Banking Ombudsman (BO)(external link) for disputes between customers and their bank if they are a member of the BO scheme.

Financial Dispute Resolution Service (FDRS)(external link), independent approved dispute resolution scheme, for disputes about a financial services provider who is an FDR scheme participant.

What kind of problems do they handle?

For the four dispute resolution schemes, your complaint must generally relate to:

  • a breach of contract
  • not following industry standards, or any relevant code of practice or laws
  • any conduct that is not fair or reasonable in the circumstances
  • misleading information or inappropriate advice such as suitability of the product for your needs
  • not disclosing fees and/or terms of the contract
  • debt recovery and repossession action
  • decline of an insurance claim or cancelling of a policy (usually due to non-disclosure)
  • policy and contract interpretation
  • transaction disputes.

Complaints the schemes can’t hear include:

  • complaints about anything related to the FSP’s commercial judgement, such as whether to give you a loan, interest rates, standard fees and charges
  • losses caused by third parties or uninsured losses
  • premiums, charges, excesses, returns or underwriting decisions
  • complaints before the courts, the Disputes Tribunal, or that have been settled in mediation.

Financial Markets Authority

You can complain to the FMA and ask them to investigate and take enforcement action about the following:

  • conduct about the businesses and individuals they license and authorise
  • illegal investment offers and schemes
  • New Zealand incorporated ‘shell’ companies
  • fair dealing
  • unregistered financial service providers
  • misleading advertising about investments
  • complaints about the FMA.


NZX can only take enforcement action if there have been possible breaches of the NZX market rules.

What do I need to do?

  1. Contact your financial service provider (FSP) if you have a problem with their advice or services to see if you can resolve it.
  2. If you can't resolve the complaint, contact your FSP's dispute resolution scheme and follow their complaints procedure.
  3. You can also complain to the FMA or NZX depending on the subject of your complaint.

What else do I need to consider?

All these schemes are free for you.

A financial services provider must belong to one of the four dispute resolution schemes so you will need to check which one they belong to. This should be on their bills or website or you can use the FSP register(external link).

Some of the schemes have set time limits to complain. Check the details for your FSP's scheme for more information. Your dispute cannot be about an amount exceeding $200,000 or $1,500 per week.

Each of the schemes offer different remedies. Check your FSP's scheme's website for more details.

Where can I get more information?

Insurance and Financial Services Ombudsman

Provides information about the Insurance and Financial Services Ombudsman and how to make a complaint.

Visit the website(external link)
Phone: 0800 888 202

Financial Services Complaints Limited

Provides information about the Financial Services Complaints Limited scheme and how to make a complaint.

Visit the website(external link)
Phone: 0800 347 257

Banking Ombudsman

Provides information about the role of the Banking Ombudsman and how to make a complaint.

Visit the website(external link)
Phone: 0800 805 950

Financial Dispute Resolution Service

Provides information about the Financial Dispute Resolution scheme and how to make a complaint.

Visit the website(external link)
Phone: 0508 337 337

Financial Markets Authority

Provides information on compliance obligations for those working in the financial sector and how to make a compliant if a business has breached the legislation they enforce.

Visit the website(external link)
Phone: 0800 434 566


Provides information on the financial markets in the New Zealand, their role as a regulator and how to make a complaint.

Visit the website(external link)
Email: (Listed Issuer complaint)
Email: (Market Participant complaint)