Glossary

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ABIO

The Australian Banking Industry Ombudsman (ABIO) is an independent body that handles disputes between individuals and financial institutions. Customers can use the ABIO to file complaints against a bank or lender and have them assessed independently. The ABIO generally accepts complaints from individuals and small businesses for losses below $280,000. Member organizations and banks can lodge disputes free of charge. The Banking and Financial Services Ombudsman (BFSO) is in charge of the ABIO and makes final decisions on most disputes. The ABIO is based in Melbourne and is currently headed by Mr Colin Neave.