Revolut Bank New Zealand’s Fair Conduct Programme Summary
This is a summary of our Fair Conduct Programme (FCP). Our FCP contains the policies, procedures, systems and controls which help us meet the fair conduct principle to treat customers fairly.
Our commitment to fair conduct: Revolut Bank is committed to treating customers fairly, which is central to our mission of putting financial power back into the hands of Kiwi consumers. This means we:
- Pay due regard to customers' interests: We focus on customer needs and interests, aiming to deliver fair outcomes.
- Act ethically, transparently, and in good faith: We provide transparent information and high-quality, valuable products and services.
- Assist consumers to make informed decisions: Our communications are clear, fair, not misleading, and timely across all channels.
- Ensure products meet consumer needs: We design and deliver products and services to meet the needs and objectives of our customers.
- Do not subject consumers to unfair pressure or tactics: Our remuneration policies discourage sales incentives that could lead to unfair customer outcomes.
Designing and managing products and services: We design and regularly review our products and services to ensure they are meeting the needs of customers. New products and significant changes undergo a comprehensive review to ensure compliance with the fair conduct principle. We regularly review our offerings and how customers are using our products and services to ensure they continue to meet customer needs and identify areas for improvement.
Communicating with customers: We design our communications with customers to be clear, fair, timely and effective to help you understand the key information you need to make an informed decision. All customer-facing communications go through an approval process to help ensure they do so. We also provide 24/7 in-app chat support with AI-powered chatbots, with human agents also available to assist where appropriate (including where a customer requests to speak to a person).
Conduct of our people: All our people are required to adhere to our Code of Conduct and all relevant policies and procedures, including the FCP. They receive training on our products and services relevant to their role, and on the importance of treating customers fairly and the requirements of the FCP.
When we identify that our code of conduct, or the requirements we have implemented to ensure we treat customers fairly, have not been followed, we take action to identify the cause, fix it, and remedy any affected customers.
Risk framework: Our risk management framework helps us identify and manage our risks, including conduct risk (the risk that we don’t treat customers fairly).Our risk management framework helps us focus on our customers and consistently review and manage our conduct risk, including the roles and responsibilities of our people in doing so.
Making a complaint: We are committed to resolving complaints promptly and fairly. If you are unhappy with our service or a product, you can make a complaint.
How to make a complaint:
You can submit a complaint via our online complaints form or by sending details of your complaint to complaints.nz@revolut.com.
Information to include in your complaint:
- Your name and surname
- Your phone number and email address associated with your account
- An explanation of the problem
- The date when the problem started
- Your preferred resolution
Once we receive your complaint, we'll send you a written acknowledgement that includes an estimated response time and we will investigate the complaint so we can try to resolve the issue as quickly as possible.
External Dispute Resolution: If you are not satisfied with our response to your complaint, you can escalate your complaint to Financial Services Complaints Limited (FSCL). FSCL provides a free and independent dispute resolution service.
FSCL Contact Details:
Freephone: 0800 347 257
Email: complaints@fscl.org.nz
Website: www.fscl.org.nz
Mail: PO Box 5967, Wellington 6140
Reviewing our FCP
We review our FCP at least annually to ensure it remains effective and up to date.