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AFCA: complaints about major banks fall
7 October 2021
Consumer complaints about the four major banks fell 7 per cent in 2020-21, the Australian Financial Complaints Authority (AFCA) says in new analysis of the 70,510 complaints it received overall in 2020-21.
AFCA also said seven of the 10 firms with the highest number of complaints in 2020-21 had fewer disputes raised against them.
The ombudsman service said it had now received over 216,000 complaints since it opened its doors in November 2018.
Chief Ombudsman and CEO David Locke said he was pleased to report a decrease in complaints about the major banks. “While we know there are challenges ahead in the coming months across the board, I hope all firms and customers continue to do what they’ve been doing – firms actively engaging with customers they think may be struggling, and customers talking to firms before a small problem becomes a bigger one,” he said.
The analysis also found that 56 per cent of all complaints were resolved in under two months. By six months, 90 per cent of all complaints were resolved.
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