Ombudsman

The Australian Banking Industry Ombudsman (ABIO) is an official body that handles formal disputes between consumers and financial institutions. When you file a complaint, the ABIO independently assesses the financial institution in question and makes a final decision. Complaints from member individuals and small businesses are free of charge for losses below $280,000. The ABIO is headed by the Banking and Financial Services Ombudsman (BFSO), a position currently occupied by Mr Colin Neave. The BFSO makes the final decisions on most complaints and is in charge of the general operations of the ABIO.