The Banking Ombudsman investigates and resolves disputes between customers and their banks.
They also deal with complaints about a range of non-bank financial service providers. The Reserve Bank of New Zealand is the prudential supervisor of banks and insurance companies.
We cannot help you directly. All businesses who offer financial services must belong to an independent dispute resolution scheme.
Your provider must provide the name of their dispute resolution scheme in their disclosure documents, or you can search for it on the Financial Service Providers Register.
If you have a dispute with your financial service provider there are several ways you can address the problem:
To register on the FSPR, all individuals or businesses that provide a financial service to retail clients in New Zealand must belong to a dispute resolution scheme.
There are four approved dispute resolution schemes:
The New Zealand Claims Resolution Service (NZCRS) is a free service that provides homeowners with independent advice, case management where appropriate and access to legal and technical services after a natural disaster.
If you're worried about a loan you've got with a finance company, please contact the Commerce Commission.
We cannot help you to get your money back.
Whether you can get any money back depends on the type of investment you have and the financial status of the company or person you have invested in.
We suggest you seek legal advice from a lawyer to discuss your circumstances and work out your options.
If you have contacted their dispute resolution scheme provider and they are unable to help you, you can file a complaint with us; but we generally will not be able to assist you directly.
If you paid money to someone registered on the FSPR and now can't access funds
Just because someone is registered on the FSPR does not mean they are licensed or regulated and you may not be able to get your money back.
If you have tried contacting them and used their dispute resolution scheme without success, you can make a complaint to us. We will not be able to help you get your money back if the company or individual is based overseas, however, we can provide you with publicly available information about them, such as where they are registered and who their directors are from the Companies Office.
If the business is located in New Zealand, we may have more ability to help, however, we cannot assist individual investors.
See our scams page to learn some of the hallmarks of scams.
You can also check:
If the scam relates to an illegal investment offer or scheme you should also contact the FMA.
You can also report any online incidents such as; scams, frauds, computer security, privacy breaches or suspicious spam messages to NetSafe.
Businesses to avoid
We publish a list of businesses and individuals we recommend investors be wary of.
You should contact the Police in the first instance.
We do not provide security or confirmations of legitimacy for any business or individual on the FSPR. We strongly suggest before investing any money that you:
See our Consumer section for more information.
You can check whether or not a company is registered in New Zealand at the Companies Office. You can also find basic details about a company such as; names of directors, addresses, registered shareholders and financial statements there.
The Companies Office is the government agency responsible for administrating the register of companies in New Zealand. It administers a number of other business registers such as the Financial Service Providers Register (FSPR).
The Financial Services Providers Register (FSPR) is an online register of the people, businesses, and organisations that offer financial services to persons in New Zealand.
By law, any business or person providing financial services to persons in New Zealand has to be registered and the company name or individual has to be listed on it if the Financial Service Providers (Registration and Dispute Resolution) Act 2008 applies to their business. Some examples include financial advice providers, finance companies, fund managers and foreign currency exchange dealers. Businesses or individuals are only able to be registered on the FSPR if they are actually providing financial services to persons in New Zealand.
Not necessarily. The numbers of businesses and individuals that we regulate have grown under the new laws but we don’t regulate everyone. See our regulatory approach page.
|IMPORTANT: As part of the process, limited criminal checks are done on a business or individual who is applying to be added to the FSPR. No other checks or assessments are made. Being registered on the FSPR does not mean a business or individual is licensed or regulated by us or that they are based in New Zealand. If you use an unlicensed provider, it’s very unlikely you will recover your money if things go wrong, particularly if they are based overseas.|
The FSPR can help you:
The Reserve Bank of New Zealand (RBNZ) registers banks, licenses insurers (insurance companies) and undertakes their prudential supervision – that means they monitor how stable and safe they are. You'll find further information on the RBNZ website.