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Fiji Island Financial Monetary Authority
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When choosing a bank one must be sure that the bank will look after the deposited funds in an appropriate manner. To ensure the safety of bank clients, we regulate them along with credit unions, building societies and other financial institutions used by the wider public to make deposits. When a bank bears the FFMA signature you know that you are in good hands.

It is very important for bank users to understand their rights and privileges and to have the opportunity to call banks out on problematic issues.

Banking Rights

Written Proof – Written proof is crucial for providing evidence or wrongful actions by a bank. Sometimes it is an oversight and an honest mistake like an extra charge and sometimes it is criminal. Therefore a bank user should keep all documents provided by a bank even those that might be considered unimportant. This way, when a problem arises one can simply present the bank with the facts.

Questions = Answers – Asking questions about any issues that may arise will keep your bank on their toes. Even if you just would like to understand why your bank raised the withdrawal fee, do not just accept it as fact, but find out why.

Chain of Command – If you question a clerk about an issue and do not receive a satisfactory answer do not be afraid to speak with a manager or even the head of the branch. Don’t let the fancy suit intimidate you, remember they work for you.

FFMA Banking Department – If you suspect foul play by your bank, contact the FFMA Banking department.

Packaged Account

A “packaged account” is generally offered by banks and building societies and usually includes: Insurance policies, loans, special deals for saving accounts and discounts and special venues. If you choose a packaged account, you must insure that your bank or building society provides the following:

  • Insure that all rules and regulations are shared for each segment of the account and that you reserve the right to claim the benefits from each segment of your account.
  • Include in the annual statement summation from each segment of the account and clear explanations of benefit claiming.
  • A clause allowing for regular re-assessment of insurance policies to meet your need.
  • Review with an advisor before.
  • Access to advisers who can recommend suitable packaged accounts.
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Fiji Island Financial Monetary Authority

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