Comment on the 15 per cent rise in complaints to the Financial Services Ombudsman

Published:

28/02/2011

Topic:

Press Release,Money,Current Accounts

Commenting on the 15 per cent rise in complaints to the Financial Services Ombudsman (FOS), Kevin Mountford, head of banking at moneysupermarket.com, said: 

"It is encouraging that UK consumers are taking control of their finances when they feel they are being sold inappropriate products, or are not receiving the standard of service they expect. However, despite the rise in complaints, we still see many consumers sticking with their financial services provider even when they are not happy with the products or service they provide. Consumers need to be more proactive with their finances, take time to understand terms and conditions and get the best value where possible. However, anyone unhappy with their financial services provider should vote with their feet and move elsewhere.

"The fact that FOS upheld over half of all the complaints they received in favour of customers, shows that financial services providers have some way to go in resolving complaints satisfactorily. We would call on providers to try and resolve customer complaints first time, every time, rather than force customers to take their complaints to the ombudsman."

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