In the world of financial services, disputes happen.
Disputes are often complex, with multiple issues and contradictory points of view between a financial services provider and a consumer.
This is where FOS comes in. We help resolve disputes between our members - who are mainly financial services providers - and consumers.
First, we try and encourage consumers to resolve the dispute with the financial services provider directly, so that FOS is not needed.
If the dispute is not resolved, we become involved and work with both parties to resolve the dispute through methods like conciliation and negotiation.
If the dispute is still not resolved, we provide a decision.
A decision could be in a member’s or consumer’s favour. Each case is assessed on the individual merits and on specific facts and circumstances.
We are the largest financial services external dispute resolution service in Australia, with over 20 years of experience. We share our experience and expertise in dispute resolution with consumers, consumer advocates, financial services providers, industry bodies and the community.
We support a collaborative approach between members and consumers, thereby building consumer trust in their financial services provider and the financial system as a whole.
For more details about FOS, visit www.fos.org.au.