Disputes and consumer protection

We want to ensure New Zealanders have confidence in a strong and trusted financial services sector that treats people fairly.

If you have a complaint or are in dispute with your financial service provider, this page will give you information on where to go for support.

Resolving a dispute

All businesses that offer financial services to retail customers must belong to an independent dispute resolution scheme. They must provide the name of their dispute resolution scheme in their disclosure documents, or you can search for it on the Financial Service Providers Register.

If you have a dispute with your financial service provider, you should:

• Raise the matter with them directly, and/or
• Make a complaint using their complaint or feedback process – this should be described on their website or in documents they sent to you.
• Contact their dispute resolution scheme. The scheme can help you make an effective complaint to your financial service provider. Then, if you and the provider aren't able to reach a resolution, the dispute resolution scheme can provide a free, independent view about a fair outcome to your complaint.

If you are concerned there is an ongoing issue that may affect others, you can file a complaint with us. The FMA can't obtain remedies for individuals. But where a financial service provider is breaching their obligations, we can investigate and, where appropriate, take action to hold them accountable and ensure they meet the standards expected of them.

Make a complaint to the FMA

Dispute resolution schemes

There are four approved dispute resolution schemes for those who provide financial services in New Zealand:

1. Banking Ombudsman Scheme - considers complaints about all the main banks (and their subsidiary or related companies) and some other non-bank financial service providers.
2. Insurance and Financial Services Ombudsman Scheme - considers complaints against insurance and financial service providers that are members of its scheme.
3. Financial Services Complaints - a Financial Ombudsman Service - considers complaints against financial service providers that are members of its scheme.
4. Financial Dispute Resolution Service - (operated by FairWay Resolution) considers complaints against financial service providers that are members of its scheme.

Other support available

Consumer Protection and the Commerce Commission have information about your rights when you use credit cards, store cards, buy goods or services on credit or get cash loans.

Some help is available from budget services organisations such as Money Talks.

You can also seek legal advice. This is free from any Citizen Advice Bureau or Community Law Centre.

Disputes about homeowner insurance claims following natural disasters

The New Zealand Claims Resolution Service (NZCRS) is a free service that provides homeowners with independent advice, case management where appropriate and access to legal and technical services after a natural disaster. Homeowners can seek this advice for free by contacting NZCRS on 0508 624 327, or by email.

What is the Financial Services Provider Register?

The Financial Services Provider Register (FSPR) is an online register of the people, businesses and organisations that offer financial services to people in New Zealand. Some examples include financial advice providers, finance companies, fund managers and foreign currency exchange dealers.

By law, they must be registered, with the company or individual name listed on the FSPR if the Financial Service Providers (Registration and Dispute Resolution) Act 2008 applies to their business.

The FSPR can help you:

• obtain a business address,
• see the types of financial services the registered company, or individual, provides to customers. Some examples include money transfers, investment management or financial advice, 
• see any licences or an authorisation status that the company or individual may have,
• see what dispute resolution scheme they belong to.

Just because someone is registered on the FSPR does not mean they are licensed or regulated by the FMA. To see who we regulate, visit our regulatory approach page.