When you entrust your money to a bank, you expect it to be kept safe and secure. But sometimes things can go wrong, and you may find yourself in a dispute with your bank. In such situations, you can turn to the Banking Ombudsman for help.
The Banking Ombudsman is an independent body that investigates complaints against banks and other financial institutions. If you have a complaint about your bank that you haven’t been able to resolve directly with them, you can escalate it to the Banking Ombudsman for resolution.
Here’s everything you need to know about Banking Ombudsman complaints:
Who is the Banking Ombudsman?
The Banking Ombudsman is an independent dispute resolution service that investigates complaints against banks and other financial institutions. It was set up by the government to provide consumers with a free and impartial way to resolve disputes with their banks.
What types of complaints does the Banking Ombudsman deal with?
The Banking Ombudsman can investigate a wide range of complaints, including:
- Payment disputes, such as unauthorised transactions or incorrect charges.
- Service issues, such as poor customer service or delays in processing requests.
- Mis-selling, such as when a bank sells you a financial product that isn’t suitable for your needs.
- Breaches of privacy or confidentiality, such as when a bank shares your personal information without your consent.
How do I make a complaint to the Banking Ombudsman?
To make a complaint to the Banking Ombudsman, you’ll need to follow these steps:
Contact your bank and try to resolve the issue directly with them. Most complaints can be resolved through direct communication with your bank.
If you’re not satisfied with the outcome, you can escalate your complaint to the bank’s internal complaints department.
If you’re still not satisfied, you can then escalate your complaint to the Banking Ombudsman. You’ll need to complete an online complaints form and provide all the relevant details about your complaint.
The Banking Ombudsman will investigate your complaint and work with you and your bank to reach a resolution. They may request further information or evidence from you during their investigation.
How long does it take to resolve a complaint with the Banking Ombudsman?
The length of time it takes to resolve a complaint with the Banking Ombudsman can vary depending on the complexity of the issue. However, the Banking Ombudsman aims to resolve complaints within 90 days of receiving them.
Is there a cost to make a complaint to the Banking Ombudsman?
No, there is no cost to make a complaint to the Banking Ombudsman. It’s a free service provided by the government.
What happens if the Banking Ombudsman finds in my favour?
If the Banking Ombudsman finds in your favour, they may order the bank to take certain actions to resolve the issue. For example, they may order the bank to refund any charges that were incorrectly applied or compensate you for any losses you’ve suffered.
What happens if I’m not satisfied with the outcome?
If you’re not satisfied with the outcome of the Banking Ombudsman’s investigation, you may be able to appeal their decision. You’ll need to provide new evidence or information to support your appeal.
Conclusion
The Banking Ombudsman is an important resource for consumers who have complaints against their banks. If you’re having a dispute with your bank and haven’t been able to resolve it directly with them, the Banking Ombudsman can help.
Remember to follow the complaint process outlined by the Banking Ombudsman and provide all the relevant information and evidence to support your complaint.