Preparing financially
How to complain about a lender, broker or insurer
What to put in a complaint, the 30-calendar-day internal response rule, when to escalate to AFCA, and the difference between AFCA and ASIC.
- Direct your complaint to the firm actually responsible — lender, broker or insurer — and include a factual timeline, references and the outcome you want.
- Standard complaints generally get a written internal response within 30 calendar days, though some credit complaints can differ.
- Escalate to AFCA (free, independent) once the firm rejects the complaint, the outcome isn't satisfactory, or the response period has passed.
- AFCA resolves your individual dispute; ASIC generally doesn't — reporting to ASIC is about flagging possible broader misconduct, not fixing your specific matter.
Start with the firm — and put the right detail in your complaint
Direct the complaint to whichever firm is actually responsible for the disputed conduct — the lender, the broker, or the insurer — rather than assuming any one of them handles everything. A useful complaint generally includes: the word "complaint" (so it's formally logged, not just a query), your contact details, the relevant account, policy or application reference, a factual timeline of what happened, exactly what conduct, decision or amount you're disputing, any supporting documents, and the outcome you're actually asking for.
How long does the firm have to respond?
Financial firms subject to Australian credit or financial-services dispute-resolution requirements generally must provide a written internal dispute resolution response within 30 calendar days — though some credit-related complaints have a shorter timeframe, and a firm can extend the period in limited circumstances if it tells you why before the original deadline passes. One shorter timeframe worth knowing if you're in genuine difficulty: a complaint about a hardship notice or a request to postpone enforcement action must generally get a response within 21 calendar days (Australian Securities and Investments Commission, verified 18 Aug 2026), not the standard 30 — see if you're struggling to make repayments for the hardship-request process itself.
When can you escalate to AFCA?
The Australian Financial Complaints Authority (AFCA) provides a free, independent external dispute resolution service — a genuine alternative to going to court for most disputes of this kind. It's generally time to escalate when: the firm rejects your complaint, the proposed outcome doesn't resolve the issue, the internal response period has expired without a response, or the firm's response doesn't actually address what you raised. AFCA can potentially direct outcomes like correcting a calculation error, refunding a fee, requiring an insurance claim to be paid, awarding compensation, or adjusting a debt arrangement — but no specific outcome is guaranteed. For most complaints, AFCA expects you to get in touch within six years after you first became aware (or reasonably should have become aware) that you suffered the loss, or within two years of the firm's final internal dispute resolution response — whichever comes first (Australian Financial Complaints Authority, verified 18 Aug 2026). AFCA may extend these limits in special circumstances, but don't rely on that — lodge as soon as you're ready to escalate rather than sitting on internal dispute resolution's outcome.
AFCA or ASIC?
AFCA resolves your individual dispute. ASIC generally doesn't resolve individual disputes or review AFCA's decisions — reporting to ASIC is relevant where your concern might indicate broader misconduct or a regulatory problem, not as a way to get your own matter fixed faster.
If the situation is urgent
If you're facing enforcement action, possible foreclosure, an imminent settlement loss, or serious financial hardship, don't wait on the standard complaints timeline alone — see if you're struggling to make repayments, and consider independent legal advice or free financial counselling alongside a formal complaint.
Frequently asked
Is AFCA really free to use?
Yes — AFCA doesn't charge consumers to lodge or pursue a complaint. It's funded by member financial firms, not by complainants.
What if the firm I'm complaining about isn't an AFCA member?
Most Australian credit licensees and financial firms are required to be AFCA members as a condition of their licence. If a firm genuinely isn't a member, ask them directly who their external dispute resolution scheme is, since AFCA can't consider a complaint against a non-member.
Can AFCA order a lender to pay me compensation?
Yes, within its jurisdiction and monetary limits — a determination can include outcomes like correcting an error, refunding a fee, or awarding compensation, but no specific outcome is guaranteed for any individual complaint.
What if my complaint is about a real estate agent, not a lender?
AFCA generally covers financial firms — lenders, brokers, insurers and superannuation funds — not real estate agents. A complaint about an agent's conduct is usually handled by the relevant state or territory's fair trading or consumer affairs regulator instead.
Practical checklist
If you have a complaint
- Put your complaint in writing, using the word 'complaint', with a factual timeline
- Include account/policy/application references and your requested outcome
- Keep records of every communication and response
- Escalate to AFCA if the firm's internal process doesn't resolve it within the response window
Questions for a professional
- What is your internal dispute resolution timeframe for a complaint like this?
- If I'm not satisfied with your response, how do I escalate to AFCA?
Official resources
Sources and methodology
- Regulatory Guide 271: Internal dispute resolution — Australian Securities and Investments Commission (retrieved 18 Aug 2026)
- AFCA's process | Australian Financial Complaints Authority — Australian Financial Complaints Authority (retrieved 18 Aug 2026)
Figures on this page are drawn from Delora's local knowledge graph, refreshed from these primary sources and checked for changes on a regular schedule. If a figure here looks out of date, the official source above is always the authority — please let us know.