Financial Ombudsman Service

What is the Financial Ombudsman Service?

The Financial Ombudsman Service is an independent referee who sorts out problems that remain unsolved through normal complaint procedures. The decision of the Ombudsman is usually binding on the provider of financial services but does not affect the statutory rights of consumers. They look at complaints about a wide range of financial matters – from insurance and mortgages to investments and credit.

While they aim to resolve matters informally, it can take between six and nine months to achieve a resolution with some disputes. They will initially give the business the chance to deal with the customer`s complaint and will only become involved if subsequently required.


Q: How do I contact the FOS to raise a dispute?

A: The “how to complain” section on the Financial Ombudsman Service site details everything you need to do to raise a dispute.

Q: Do they deal with PPI repayments?

A: They do, you’ll find all the information you need on their site including forms, tips on how to start the process and previous case studies. PPI is to date the most complained about financial product to the Financial Ombudsman Service, followed by Payday Loans.

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