Financial Ombudsman Service
The Financial Ombudsman Service (FOS) helps settle disputes between consumers and UK-based businesses providing financial services, such as banks, building societies, insurance companies, investment firms, financial advisers and finance companies.
The FOS can deal with complaints from clients about most financial matters, including:
•banking;
•insurance;
•mortgages;
•pensions;
•savings and investments;
•credit cards and store cards;
•loans and credit;
•hire purchase and pawnbroking;
•financial advice;
•stocks, shares, unit trusts and bonds;
•money-transfer operators.
Before the FOS can step in, the client must first give the business they are unhappy with the opportunity to deal with the complaint itself. The business has a maximum of eight weeks to resolve the complaint. If they do not resolve it within eight weeks or the client is not happy with the response, the client can refer it to the FOS. The complaints form is available at or you can phone 0800 023 4567.
The FOS has the authority to request or require a company to offer financial compensation, correct a client’s credit file, or offer an apology, as a means of dispute resolution.
More information can be found on the FOSwebsite.1