The Jurisdiction of FIDReC

The jurisdiction of FIDReC in adjudicating disputes between consumers and financial institutions is as follows:

(1) For claims between insureds and insurance companies: up to S$100,000

(2) For disputes between banks and consumers, capital market disputes and all other disputes (including third party claims and market conduct claims): up to S$50,000

At present, FIDReC’s services are available to all consumers who are individuals or sole-proprietors.