The Financial Conduct Authority (FCA) and the Financial Ombudsman Service (FOS) have recently reiterated the rules around making sure consumers are aware of finance complaints procedures. In short:
- You must make customers aware of your finance complaints process at, or immediately after, the point of sale.
- You have to provide your complaints process in writing and free of charge.
- The information about FOS needs to be presented in a clear comprehensive and accessible way, and include a link to the FOS’ website.
- Your FOS complaints procedure must be included on your website if you have one.
At CCS we would recommend using the Choice of Funding form as this already includes all the required FOS complaints procedure information (on the reverse of the document).
You can find out more by viewing our article on the CCS website http://ccs2022.freshwebtest.co.uk/fos-customer-complaints-procedures/
You can also read the official guidelines on the FCA’s website https://www.handbook.fca.org.uk/handbook/DISP/1.pdf