FIDReC provides independent mediation and adjudication for eligible disputes with subscribed financial institutions. Filing is free, and the adjudication limit is S$150,000 per claim for claims filed from 1 July 2024. This guide is for a consumer who has reached an impasse with a bank, insurer, broker or payment institution and resolves one task: decide whether FIDReC can handle the dispute and prepare a concise claim file. The material claims were checked against FIDReC official overview and FIDReC FAQs.
Choose the route that matches your case
| Situation | What to do |
|---|---|
| Financial institution has not received a formal complaint | Use its complaint channel first |
| Institution sent a final response or talks stalled | Test FIDReC jurisdiction |
| Claim is S$150,000 or less | Adjudication can fit the published monetary limit |
| Limitation period may be running | Seek legal advice; FIDReC does not stop every time bar |
Identify the respondent
FIDReC handles eligible disputes with financial institutions that subscribe under its framework. Confirm the legal entity, product and account before filing. According to FIDReC official overview, the controlling detail for this branch is the specific rule or service condition cited here.
A trading name on an app may differ from the licensed entity in the contract.
Show the complaint path
A useful file includes the original complaint, acknowledgement, final response, dates and any settlement proposal. According to FIDReC FAQs, the controlling detail for this branch is the specific rule or service condition cited here.
Turn a long email chain into a one-page chronology without deleting the underlying records.
State one remedy and amount
Separate the amount actually lost, disputed fees, consequential loss and non-monetary remedy. Explain the calculation and avoid double counting. According to FIDReC official overview, the controlling detail for this branch is the specific rule or service condition cited here.
The S$150,000 ceiling is an adjudication limit, not an automatic valuation of the claim.
Attach claim-specific evidence
Statements, transaction records, policy wording, disclosure documents and call notes should be mapped to the exact disputed act. According to FIDReC FAQs, the controlling detail for this branch is the specific rule or service condition cited here.
Rename files by date and issue so the mediator can follow the sequence.
Use mediation intelligently
Mediation can resolve a dispute without an adjudicated decision. Define an acceptable outcome and what evidence could change your position. According to FIDReC official overview, the controlling detail for this branch is the specific rule or service condition cited here.
Do not mistake willingness to negotiate for an admission of liability.
Protect external deadlines
FIDReC’s terms warn that complainants remain responsible for limitation periods and legal advice. According to FIDReC FAQs, the controlling detail for this branch is the specific rule or service condition cited here.
If a statutory or contractual time bar may expire, get case-specific advice while the complaint proceeds.
Run the numbers or sequence
A customer seeks S$18,000 after disputed investment instructions. The file should show the instruction, product documents, transaction, complaint response and a calculation of the S$18,000, not simply upload every account statement.
The calculation or sequence above is an LBRD working example. Replace every example input with the amount, date, access condition or document from your own case. Keep the official rate or threshold beside the working so another person can reproduce the answer.
Build a verification note another person can check
Before acting, create a one-page case note headed with the task, the date checked and the person responsible. Copy only the facts that affect your decision, then attach the statement, booking, application, receipt, map record or screenshot that supplies your own input. This separates a published rule from a personal assumption. If the official page changes, keep the earlier dated record but rework the decision with the live version.
| Controlling source | What to verify | What to retain |
|---|---|---|
| FIDReC official overview | Free filing, mediation process, eligible financial institutions and S$150,000 adjudication limit. | Record the page date, the exact rule used and the case input it governs. |
| FIDReC FAQs | Claim limit by filing date, filing route, document upload and small-business criteria. | Record the page date, the exact rule used and the case input it governs. |
Read the source in context, including definitions, exceptions and effective dates. A relevant page is not proof by itself: the cited passage must contain the particular rate, deadline, eligibility condition, access rule or warning used here. Where two official channels appear inconsistent, pause and ask the authority about the exact case rather than choosing the more convenient answer.
Use the guide with its limits
This guide is decision support, not personalised financial or legal advice. Protect essential spending first, use exact statements and contracts, and treat any modelled amount as an estimate until the relevant institution confirms the case-specific figure.
No interview, personal use, fresh field visit, survey result or price check is claimed unless explicitly stated. Availability, fees and procedures can change. Reopen the linked authority page immediately before payment, travel, filing or emergency use.
Before you act
- Name the legal financial institution
- Save the final response
- Build a dated chronology
- State the remedy and amount
- Index each supporting document
- Check FIDReC jurisdiction
- Protect any external time bar
Mistakes that change the outcome
- Naming the wrong entity
- Uploading unsorted files
- Claiming an unexplained round number
- Assuming filing pauses every deadline
- Treating mediation as automatic victory
Continue with the relevant LBRD guide
Next, prepare a card dispute evidence file. You can also verify the regulated entity and representative.
Questions readers ask
Does filing cost money?
FIDReC states that filing a complaint is free.
What is the current adjudication limit?
S$150,000 per claim for claims filed from 1 July 2024.
Can FIDReC give legal advice?
Its terms state that it does not provide legal advice.
