AFCA complaints data explained

The datacube and its terms

AFCA says its 2023-24 datacube shows complaints data about AFCA members ¹. The datacube defines a financial firm as an AFCA member that has met the threshold number of complaints to be included in its comparative reports ².

Complaints received is the total received in the reporting period at the Registration and Referral stage ². Complaints closed counts complaints closed in the period, including some lodged before it began ². Outcome types are resolved by agreement, in favour of complainant, in favour of financial firm, discontinued, assessment and outside AFCA Rules ².

Three years of figures

AFCA financial years run from 1 July to 30 June ¹. Figures for 2024-25 and 2025-26 were not confirmed from an AFCA page opened for this guide.

Complaints by product line, 2023-24

The products with the most complaints in 2023-24 were personal transaction accounts (16,551) and credit cards (11,913) ¹. The top issue was unauthorised transactions, with 12,696 complaints ¹.

The five product lines add up to 101,744 received and 101,070 closed, below the totals of 104,861 and 104,203. The review notes that complaints may belong to more than one product type. It does not reconcile the product lines with the totals, so both are shown as printed ¹.

How complaints closed

Of 99,853 complaints closed before a determination in 2023-24, 72% were resolved by agreement or in favour of the complainant, 2% in favour of the firm, 10% were outside AFCA Rules and 15% were discontinued or withdrawn ¹. Of 4,281 determinations, 30% were in favour of the complainant and 70% in favour of the firm ¹.

In 2022-23, 28% of 4,232 determinations favoured the complainant ⁶. In 2021-22 the share was 24% of 4,849 ⁵.

Determinations (4,281) and complaints closed before a determination (99,853) add up to 104,134, which is 69 fewer than the 104,203 complaints closed. The review does not explain the difference ¹.

How decisions bind firms

• Consumers complain to the business first, then to an independent body such as AFCA if the problem is not resolved ⁴.
• AFCA may use negotiation, conciliation and a preliminary assessment before a determination, which is the final stage ⁷.
• If a complainant accepts a determination in their favour, the firm must comply with it and any remedy awarded. For superannuation complaints, determinations bind both parties ⁷.
• A complainant who rejects a determination keeps the right to go to court ^7,3.
• ASIC does not review individual AFCA decisions ³.

Firm complaint data at ASIC

ASIC runs a separate dashboard of internal dispute resolution data that firms submit every six months, covering complaints received or open from 1 July 2023 ⁸. ASIC says a high count does not necessarily indicate poor performance and that the data is self-reported ⁸.