Consumer complaints about the Big Four fell 7% in 2020-21, the Australian Financial Complaints Authority says.
The one-stop financial complaints watchdog’s new annual report shows there were 70,510 complaints overall in 2020-21.
But the free consumer service is having to deal with thousands of paid representatives, hired to take on financial institutions.
While the ombudsman has received more than 216,000 complaints since it opened its doors in November 2018, it looks like the way banks responded to COVID is reflected in the level of complaints.
Seven of the 10 firms with the highest number of complaints in 2020-21 had fewer disputes raised against them, AFCA says.
Chief Ombudsman and CEO David Locke said he was pleased to report a decrease in complaints about the major banks.
“While we know there are challenges ahead in the coming months across the board, I hope all firms and customers continue to do what they’ve…