The banks complaint process is often long winded and difficult for a client to proceed and conclude a complaint successfully. The figures above show how difficult the task is with only 150,000 complaints actually being reviewed by the Ombudsman from the millions of initial complaints to the banks or finance companies and many thousands of complaints that initially find their way to the Ombudsman but are not even reviewed.
The main reason being that people are put off from making a complaint and using the banks established long winded and frustrating approach that far from helping alleviate your concerns normally adds to them. Unsurprisingly the banks use the complaints process to good effect culminating in the complaint not being concluded which sadly the statistics confirm.
In 2009 there were 150,000 complaints reviewed by the Financial Ombudsman, out of several million initial complaints made to the banks. The Ombudsman finding in favour of about 50% of the claims they reviewed or 75,000 complaints that they accept for review. So as a percentage only about 5% of complaints make it to a review stage with the Financial Ombudsman.
Why use Bank Complaints Ltd?
We have been involved both working for high street banks and dealing with complaints on behalf of clients for over 22 years. Having successfully represented clients for miss selling, overcharging, fraud, malpractice and inappropriate lending: From insurance, through to banking accounts for business and personal customers, mortgages and finance companies.
The key to taking any complaint forward is by presenting a case in the best way possible so it is reviewed and maintaining the stamina and focus to see the task through to the end. We find an arms length approach when dealing with a complaint is beneficial when presenting a case as we only introduce arguments that are pertinent and do not become emotionally involved with the process. The banks find this approach difficult to deal with and frustrating, which leads them to make mistakes which strengthens the likelihood that the complaint will be successful.
Fees
Many complaints can be dealt with under the terms of our normal no win no fee agreement where our fee is 25% inc VAT of any financial benefit received On some occasions a single fee at the outset or an ongoing payment may well be the most appropriate.
