The Complaints Process
Once you have established that you can make a complaint you should now follow these three steps:
1. Complain to your Financial Service Provider.
It is important that you first let your Financial Service Provider know that you are unhappy. It is best to put your complaint to your Financial Service Provider in writing and keep a copy of your letter. You must give your Financial Service Provider an opportunity to look into your problem and allow them to try to reach a resolution.
2. Go through the Provider’s Complaint handling process in accordance with Consumer Protection Code.
According to the Consumer Protection Code a Provider must seek to resolve any complaints with consumers. That is why you must, in the first instance, contact your Provider, outline your complaint and give it a reasonable opportunity to deal with it.
Your Financial Service Provider has 40 business days (i.e. approximately 2 months as this period does not include weekends or bank holidays) from the date you notified them of the issue within which to attempt to investigate and resolve your complaint.
If your Financial Service Provider cannot resolve your complaint within 40 business days it must inform you of the anticipated timeframe within which it hopes to resolve the complaint and must inform you that you can refer the matter to the relevant Ombudsman.
Once you have made the Provider aware of your Complaint, the point at which this office shall accept the complaint is:
Between 1-40 workings days when the investigation is completed and the Provider has written to you informing you of this.
After 40 working days has expired and the Provider has written to you and informed you of the anticipated timeframe within which it hopes to resolve the complaint and must inform you that you can refer the matter to the FSO.
The timelines and guidelines for complaint handling are set out in the Consumer Protection Code – Complaint Resolution 10.7.