Our telephone service to the public
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162,408 calls to the Financial Ombudsman Service
33,559 calls to BFSO
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Calls received by the Financial Ombudsman Service (FOS)
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FOS has operated as a joint venture between BFSO, Financial Industry Complaints Service Limited and Insurance Ombudsman Service Limited for four years as at 30 June 2006. FOS is the first telephone contact point for consumers wishing to access a financial services dispute resolution scheme. Consumers ring 1300 780 808 and an Enquiries Officer refers them to the most appropriate scheme. Click here to view a graph illustrating the trend of calls answered by FOS.
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FOS switches calls directly to:
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- Banking and Financial Services Ombudsman
- Credit Union Dispute Resolution Centre
- Credit Ombudsman Service Limited
- Financial Industry Complaints Service
- Insurance Brokers Disputes Limited
- Insurance Ombudsman Service
- Superannuation Complaints Tribunal
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For this reporting period, FOS answered a total of 162,408 calls, an increase of 9.6 per cent from the previous year’s 148,148 calls. Of all the calls answered by FOS, 22.9 per cent were directed to BFSO staff, 75.8 per cent were directed to other participating schemes, as appropriate, and the remaining 1.3 per cent were referred to organisations outside FOS.
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Calls received by BFSO
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A total of 33,559 calls were answered by BFSO case officers during the year, an increase of 3 per cent compared to the 32,572 calls answered in the last reporting period. Click here to view trend of calls answered by BFSO.
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A total of 69.5 per cent of new calls answered were new enquiries within BFSO’s Terms of Reference. Of the remainder, 9.9 per cent were outside Terms of Reference, 14.7 per cent were follow up calls on open cases and 5.9 per cent were administrative calls not related to cases. Click here to view a graph showing distribution of calls answered by BFSO
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Performance figures once again indicated the high level of service provided by BFSO case officers with:
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- A low average monthly abandonment rate of 2 per cent; and
- A high average speed of answer of all calls of 26 seconds.
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