Before you report a concern

Anyone can contact us to allege a customer owned bank has breached the Customer Owned Banking Code of Practice.

When we can investigate

For us to investigate a matter, at a minimum the:

customer owned bank must subscribe to the Code (see our Code Subscriber register)
financial service had to take place in Australia
matter has to involve an individual or small business customer or their guarantor, and
Code needs to cover the issue.

Download the Customer Owned Banking Code of Practice (PDF, 689 KB, 32 pages)

When we cannot accept your concern

We cannot accept your concern when:

You want compensation

Try to resolve the matter with your customer owned bank. If you are unable to do so, contact its external resolution scheme – the Australian Financial Complaints Authority (AFCA).

AFCA provides consumers and small businesses with fair, free and independent dispute resolution for financial complaints.

You want us to issue fines or penalties

We don’t have this power. The Australian Securities and Investments Commission regulates customer owned banks’ licenses and has the power to issue fines and penalties in some cases.

You want us to declare the rights and entitlements of the parties

Only courts, tribunals and similar forums have these powers.

A court, tribunal or similar forum has previously decided if the customer owned bank has complied with the Code

We will adopt the finding of that forum.

There is a more appropriate forum

In some cases an alternate forum may be better placed to investigate the matter. For example, the office of the Australian Information Commissioner is a more suitable forum to investigate privacy concerns.