Complaints FAQs

Who can make a complaint to CIO?

We can help you with your complaint if you are a consumer or a small business and you have dealt with a participating financial services provider, and you have tried to resolve the complaint with the financial services provider directly.

To search for a participating CIO Member, or to contact the members complaint team, type the name in the CIO scheme participant search.

Where do I start?

Before making a complaint with us you need to try resolving your complaint with the financial services provider.

Every financial services provider must have procedures in place called Internal Dispute Resolution Procedures or ‘IDR Procedures’.

The IDR Procedures require that a financial services provider must:

  • give you a copy of their Internal Dispute Resolution (IDR) Procedures if you ask for them
  • give you a final response within 45 days of making your complaint.

To search for a participating CIO scheme participant, or to contact the members complaint team, type the name in the Financial Services Provider Search box.

Am I bound by CIO’s decision?

A CIO decision is only binding on a Complainant if the Complainant accepts it. If the Complainant does not accept a CIO decision, the Complainant is at liberty to pursue other remedies in the Courts or any another forum.

The Ombudsman's decision is binding on the financial services provider once a Complainant has accepted the Ombudsman’s decision.

Can anything be done about fees?

Some lenders can charge default fees, default interest and enforcement costs that are reasonably incurred, if they are set out under the loan contract. However, in certain circumstances, for example if the fee or charge has not been clearly stated in the contract, if it is not a permissible fee or charge or it has been incorrectly applied, we may be able ask the lender not to charge certain fees.

Do I need a lawyer or other representation?

No, our process does not require you to need representation. However, if you choose to, you will be liable for any costs associated.

Visit our Resources section to find free, specialised representation or assistance.

Does CIO offer advice on a financial services provider's products or services?

As a dispute resolution service, we cannot offer advice or make recommendations about a financial services provider's products or services.

How do I make a complaint?

It is important that you give your financial service provider an opportunity to resolve your complaint (internal dispute resolution – IDR) before lodging it with CIO.

To search for a participating financial services provider, or to contact the financial services provider's complaint team, type the name in the CIO scheme participant search.

If you already have raised your complaint the financial service provider and have not received a response within 45 days, or you are still dissatisfied with the response you received, you can make a complaint to CIO by:

How is CIO funded?

The Credit and Investments Ombudsman is an Australian Securities & Investments Commission (ASIC) external dispute resolution (EDR) scheme. CIO  is an industry funded not-for-profit association.

CIO's revenue is made up by a combination of membership and complaint fees paid by financial services providers as part of their participation in the scheme. We are not a Government funded agency or body.

Who is the Ombudsman?

The current Ombudsman is Mr Raj Venga. Our Ombudsman was appointed by the CIO Board to make determinations on complaints.

How much does it cost?

Our service is free to consumers. This means there is no cost to a consumer in lodging a complaint with the Credit and Investments Ombudsman.

More Results: