The recent Royal Commission has shed light on the degree of unconscionable conduct from the banks and superannuation providers. You can bring a complaint against a large bank like ANZ and CBA or against...a mortgage or insurance broker that may have given you bad advice. Many people are not aware how they have been affected, so it´s best to detail all the products you´ve ever had with any bank you´ve been with in the last 11 years. Be sure to mention if you had credit cards, loans, insurance. Sometimes simply switching super providers is riddled with problems. Any advice given by a banker is usually a big area for concern, but sometimes like in the case of many superfunds no advice is also a concern as it is a big investment.
I Am Not A Number facilitates as financial ombudsman service in Australia inorder to solve your disputes and claim your money back.
Usually, banks only have to review as far back as 7 years unless you provide the documentary evidence. However, due to the recent Royal Commission there’s some indication that 11 years (late 2007) would be the cut off. Additionally, some cold cases are being accepted based on the severity and nature of them, even if they have already been to financial ombudsman in the past.
There are a large amount of banking issues you can claim for. They range from bank charges, irresponsibly increasing your credit card limit, bad advice on a mortgage or financial plan, poor management of your superfund, insurances being added to products that were not fit for your needs.
Due to the complexity of banking, it’s often difficult to know if you have a claim. The spate of problems identified in the Royal Commission indicates that there is a high probability you’ve been affected in some way. Over 4 million Australians are due on average of $8,000 is the growing estimate. It is worth filling in a form for every bank that you’ve been with and allow our investigators to review to see how you might have been effected
That’s easy, just fill in a new form for every company you wish to complain against
The process could be as short as 2 weeks and as long as 2 years depending on the complexity of banking, insurance complaints. Our job is to continuously chase the relevant parties to ensure its being resolved as swiftly as possible.
We wish our service could be for free, and for that reason we don’t charge anything for the work we do even if you don’t win. But without government funding we have to get paid something to cover our costs. So when you win, we’ll take a small percentage. The amount depends on the type of complaint and is written into your agreement.