26 Jul 2022

Where can I escalate bank issues?

Top tax tips for property investors

It can be uncomfortable to speak up against bank issues, but if you do not the consequences are worse. When a bank problem is not resolved, you will need to speak directly with the Australia Financial Complaints Authority (AFCA). This is a government authority that allows bank clients to submit official disputes that are reviewed by the committee. Not all disputes, though, fall under the requirements that the AFCA asks.

Escalating bank issues to the AFCA takes some research. First, you will need to go to the organisation’s website. Once you are on the website, take a look at the requirements and information about the disputed program. Does your problem fit within the guidelines?

The address to that you will mail your AFCA letter is:

Australian Financial Complaints Authority Limited

GPO Box 3

Melbourne, VIC 3001

Writing a letter is a good way to get a response, but if you prefer using online communication mediums, you can also fill out a form online or call them at 1800-931-678. The call is free for Australians during the hours of 9:00 am–5:00 pm AEST/AEDT.

You will also need to gather as much information as possible about the problem and how it was not resolved. Print and attach documents to your letter or email.

Escalate Bank Issues Conclusion

Bank issues can be painful and frustrating to fix, especially since it is a long process. Therefore Mortgage House lenders and employees work hard and efficiently to decrease the chances of lending issues. Are you interested in a low-interest loan? Contact a Mortgage House specialist today!

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