Financial Ombudsman Service

[OIC]

FYI - every referral made by a customer costs the financial institution that's been referred to the FOS £500.

I don't have skin in the game that's currently ongoing, but my thoughts are that it's utterly disgraceful.

The FOS will not be impressed either.

Keep it short, simple, unemotive, factually correct, particularly with respect to dates.

[Simpo Two]

I'm not clear. What is disgraceful and why won't the FOS be impressed that they charge £500?

[ferret50]

OIC said:

FYI - every referral made by a customer costs the financial institution that's been referred to the FOS £500.

I don't have skin in the game that's currently ongoing, but my thoughts are that it's utterly disgraceful.

The FOS will not be impressed either.

Keep it short, simple, unemotive, factually correct, particularly with respect to dates.

That's good to read!

[trickywoo]

Isn’t only if the deem it worth taking on?

I had a problem with Santander and it took the ombudsman 3 months to get round to looking at it.

Almost to the day Santander compensated me as much as I thought the ombudsman might award and I got my money back. I therefore dropped the case.

If it’s worthy of taking on its right that the ‘accused’ stump up as whatever they’ve done by that point is likely to be pretty bad.

[ferret50]

Oh yes it's bad, it's worse that a bad thing that's gone bad, the outfit concerned have even ignored their own terms and conditions!

[towser44]

I used to work in complaints for a financial services company and the FOS referral rights were always a talking point. A lot of the time, it would have been cheaper for us to back down and give compensation to the customer, even when there were no grounds for us upholding the complaint than rejecting it and them being able to go to FOS. We always rejected complaints when justified though, but, it was frustrating that it cost us the FOS fee even when as a company we had done nothing wrong.

[dingg]

What an appropriate thread ,I've just pinged off an email to get my complaint escalated to the financial ombudsman.

Sadly some financial services companies treat their clients with contempt

[ferret50]

dingg said:

What an appropriate thread ,I've just pinged off an email to get my complaint escalated to the financial ombudsman.

Sadly some financial services companies treat their clients with contempt

Thank you.

Let's trust that this is just another delaying tactic on the part of the ceeding cowboys.

[2and3and4]

Hate to tell you but the FOS is just another nonsense:

https://www.trustpilot.com/review/www.financial-om...

[BlindedByTheLights]

Interesting, I’ve just opened one on nationwide, be interesting to see how it progresses.

[Sheepshanks]

2and3and4 said:

Hate to tell you but the FOS is just another nonsense:

https://www.trustpilot.com/review/www.financial-om...

Can you complain about the FOS?

[2and3and4]

Sheepshanks said:

2and3and4 said:

Hate to tell you but the FOS is just another nonsense:

https://www.trustpilot.com/review/www.financial-om...

Can you complain about the FOS?

Yes. If the decision you get is obvious enough nonsense you can ask for a more senior ombudsman to review it.

Guess what outcome that leads to?