AFCA has updated its complaint fee schedule for the 2023-24 financial year (1 July 2023 to 30 June 2024).  

The fees have been updated to align with the Consumer Price Index (CPI) and will apply to complaints closed from 1 July 2023.  

AFCA acknowledges that interest rate rises and changes to cost of living may be impacting smaller financial firms. AFCA has therefore not increased its Annual Registration Fee. This will remain $375.55 for financial firm members and $65.98 for Authorised Credit Representative (ACR) members in FY24.  

The five free complaints scheme will also continue in FY24. This means members will not receive complaint fees for the first five complaints closed within the financial year. This will be automatically applied and will show on the relevant invoice with no charge against it.      

Members can find the current fee schedule and FY24 fee schedule on the AFCA website here.

More information about AFCA’s funding model can be found here.