Generate a formal complaint letter citing FCA Consumer Duty regulations. Challenge unfair rates, charges, and poor service.
Select the type of complaint and we will generate a letter with the right FCA Consumer Duty references.
The FCA Consumer Duty (PS22/9) is the biggest regulatory change in UK retail financial services in over a decade. It came into full force on 31 July 2024, requiring all financial firms to deliver good outcomes for retail customers.
Consumer Duty is built around four outcomes:
What this means for you: If your bank is paying unfairly low savings rates, charging disproportionate fees, making it difficult to switch, or failing to communicate changes clearly, they may be breaching Consumer Duty. You have the right to complain and, if necessary, escalate to the Financial Ombudsman Service.
The FCA Consumer Duty (PS22/9) is a set of rules that came into full force on 31 July 2024. It requires financial firms to deliver good outcomes for retail customers across four areas: products and services, price and value, consumer understanding, and consumer support. It is the most significant regulatory change in UK retail financial services in over a decade.
Your bank must acknowledge your complaint promptly and provide a final response within 8 weeks. If they cannot resolve it within 8 weeks, they must write to you explaining why and informing you of your right to refer the complaint to the Financial Ombudsman Service (FOS).
The Financial Ombudsman Service (FOS) is a free, independent service that resolves disputes between consumers and financial firms. If your bank rejects your complaint or does not respond within 8 weeks, you can escalate to the FOS. The service is free to use and the FOS can award compensation of up to \u00a3430,000 per complaint.
Yes. If your bank has breached Consumer Duty or treated you unfairly, you may be entitled to compensation. This could include refunds of unfair charges, backdated interest on unfairly low savings rates, or compensation for distress and inconvenience. Many customers have successfully challenged banks under Consumer Duty and received redress.
No. Banks are legally prohibited from treating you differently because you have made a complaint. The FCA rules protect customers who exercise their right to complain. If you believe your bank has retaliated against you for complaining, this itself would be grounds for a further complaint and FOS referral.
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