25 Jul 2022

Can I sue my bank for their mistake?

Bank Construction Loan

We have all been there when a company like a bank messes up and it is hard to reach them. Banks must provide the service or product they are paying for. If they cannot do this, but you have already paid for it, you are entitled to the service with interest or your money back.

Usually, if a bank has made a grave error, like one where you are missing money, it is important to start small. Speak to the manager and inquire more information about the charge or lack of funds in your account. Managers do not have all the power, but they can speak to higher-ups in the banking company to get answers promptly.

If nothing is complete, even with the manager being on board, you need to immediately file an official complaint with the Australia Financial Complaints Authority (AFCA). This is a free service where a group of people review official financial complaints from customers to financial institutions.

Suing a bank legally is hard, if not impossible. Instead, you will need to file a dispute with the Australia Financial Complaints Authority (AFCA) and they will take legal action if there is a case.

Suing Banks for Mistakes Conclusion

Banking mistakes and errors are painful, especially when you do not expect them. Mortgage House strives to do its best to ensure that there are no mistakes. However, even if there is a mistake, speaking to a lender or manager can speed up the process of finding a solution!

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