Definitions for "Financial Ombudsman Service" Add To Word List
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Got a complaint about a financial product that you've been unable to resolve with the company that supplied it? Then give these people a try.
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Customers with a complaint against a financial services firm can make a complaint to the FOS who will investigate on their behalf. If the company no longer exists or has become insolvent you should contact the Financial Services Compensation Scheme (FSCS)*.
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The body that handles complaints about financial firms.
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Independent body to decide complaints relating to banking, investments and insurance.
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Facility established to hear complaints by eligible complainants and make awards where appropriate. Can award a maximum of £100,000 plus costs.
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The office of the Financial Ombudsman Service was set up to sort out individual complaints between customers and banks. The service is free to bank customers. The Office of the Financial Ombudsman Service is independent and impartial. They're responsible to an independent counsel not the banks. The bank has to accept the decision made by the Office of the Financial Ombudsman Service. Customers don't have to accept the Office of the Banking Ombudsman's decision plus they have the right to go to court as well. To contact them write to the following address: The Office of the Financial Ombudsman Service South Quay Plaza 183 Marsh Wall London E14 9SR
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