6 March 2007
An investigation by the Financial Ombudsmen (FOS) has revealed that some customers are being forced to deal with retaliatory action after they have issued a complaint about unfair charges on their current accounts.
A report in the Independent stated that the FOS felt so strongly that it was unfair that several customers were being forced into taking their current accounts elsewhere that they have referred the matter to the Financial Services Authority (FSA).
Currently, two lenders - one building society and one major bank - are being investigated after claims were made that they had closed the accounts of customers who had complained against them.
David Cresswell, a spokesman for the FOS, told the newspaper: "We have asked the FSA to get involved under the terms of Principal 6 of its remit, that companies must treat their customers fairly. The question of how complaints are handled goes right to the heart of that rule."
If you're not getting what you want from your existing provider, switching to better banking is easy and only takes a few minutes. Visit uSwitch.com and make an accurate and impartial comparison of all UK current accounts. Apply online and switch today.
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.