Sunday, September 27, 2009

FISCA Assistance to consumers

If you need assistance from a FISCA volunteer on a financial product, you can register with www.fisca.sg. The scope of the assistance is set out in this document.
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4 comments:

Anthony Ou said...

It's confusing. As a consumer, if I have a dispute with an insurance company or a bank, do I go FISCA or FIDREC?

Can't I just go to FIDREC directly? If can, why do I need to go through FISCA?

What is FISCA for when there is FIDREC and vice versa?

Rdgs,
Anthony

September 28, 2009 2:55 PM
Anonymous said...

FISCA is a non profit advisory and education self funded society.
FIDREC is a government or indsutry sponsored adjudication body, similar to a tribunal to adjudge small claim up to $50K.

FISCA is a consumer association or society to help consumers understand what they have bought and also to help detect mis-selling or any unethical practices by the sellers, insurance agents.
Please visit FISCA website.

September 28, 2009 6:42 PM
Vincent Sear said...

Basically, you go to Fidrec after things went wrong; you go to Fisca before things go wrong to prevent things from going wrong.

However, you still can go to Fisca after things go wrong. Fisca is not an mediator or arbitrator, but it can help identify what went wrong and which avenue of recourse to seek, e.g. Fidrec, regulatory authority, police etc.

September 28, 2009 10:29 PM
Tan Kin Lian said...

If you wish to lodge a complaint against a financial institution, you go to FIDREC.

If you need assistance to prepare the complaint to FIDREC, you approach FISCA and pay an admin fee of $50 for the assistance.

September 28, 2009 10:35 PM

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