Ombudsman report is "shameful"

28/05/2009

The new annual report from the Financial Ombudsman Service (FOS) shows some very worrying findings, according to one group of experts.

Which? said that the amount of customer complaints brought to the Ombudsman that proved successful was a big cause for concern.

Customers who have a dispute with their financial services provider bring their cases to the service if they cannot reach a resolution.

The FOS figures, released yesterday, showed that the side of the customer had been upheld 57 per cent of the time.

However, Which? pointed out that success rates had stood at just 30-40 per cent in previous years - suggesting that services offered by financial firms had worsened.

"It's shameful that some firms are dismissing so many justified complaints that are upheld", a spokesperson said.

"This could be just the tip of the iceberg as many people give up at the first hurdle rather than going to the Ombudsman.

"Companies have a duty to treat their customers fairly and this means giving all complaints due consideration and, if appropriate, accepting them."

Around 125,000 complaints reached the FOS over the last year.

Tags; Debt Management and Banking, Young Family Finances, Credit Card Lifestyle, Recent Graduate Debt,

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