It’s All About the Money. Or Is It? Consumers’ Experiences with the Financial Services Complaints Institute (Kifid) in the Netherlands

The Dutch Financial Services Complaints Institute (Kifid) offers a form of alternative dispute resolution (ADR) to consumers who have a complaint about a financial product or a financial service. Kifid first tries to mediate between the consumer and the financial services provider. If mediation fails, the Arbitration Commission will issue a binding decision. Using a survey among recent Kifid users (N = 506), this paper asks: how do consumers experience the Kifid complaints procedure, and to what effect? This study confirms the general finding from earlier research that procedural justice plays... Mehr ...