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Consumer complaints against commercial banks and financial institutions in Fiji are on the increase as customers are left in the dark about “hidden” fees and charges on their accounts.
Most of the complaints centre on “non-disclosure” of information by banks to customers, fees charged without customer’s prior knowledge, high interest rates and poor service delivery.
Fiji’s Consumer Council said there was a 20 percent increase in 2009 of complaints compared with the previous year.
Council chief executive Premila Kumar said the complaints had been on-going and there was limited protection available to customers in Fiji.
“One of the complaints was a customer’s account was debited $36 for Ad Hoc Charges without any prior knowledge. After we intervened, the charges were reversed,” Kumar said.
“But the question is why was it imposed in the first place,” she added.
Kumar said the banks were also not transparent in disclosing information on how customers can qualify for interest credits.
“Business owners and consumers need full and fair disclosure of the costs and risks of financial products and services.”
