How long does a Financial Ombudsman complaint take?

The Financial Ombudsman aims to resolve most complaints within 90 days of receiving all the information they need. In practice, straightforward cases may take 3–6 months, while complex cases can take 12 months or longer. The FOS has been dealing with high complaint volumes, so delays are common.

Is the Financial Ombudsman free to use?

Yes — the Financial Ombudsman Service is completely free for consumers to use. The financial business pays a case fee for each complaint the FOS investigates. You will never be charged for using the service, regardless of the outcome.

Can the Financial Ombudsman award compensation?

Yes. The Ombudsman can award up to £430,000 for complaints about acts or omissions from 1 April 2024 onwards (the limit is reviewed annually). For older complaints, lower limits may apply. Awards can include financial loss, consequential losses, and compensation for distress and inconvenience (usually £100–£500 for moderate impact, but can be higher).

What complaints does the Financial Ombudsman cover?

The FOS covers complaints about banks, building societies, insurance companies, financial advisers, mortgage brokers, credit card companies, loan providers, investment firms, pension providers, and payment services. It does NOT cover complaints about HMRC, the DWP, accountants (not regulated by the FCA), or cryptocurrency exchanges (unless regulated).

How to Complain to the Financial Ombudsman — Step by Step | PocketWise

If you have a dispute with a bank, insurer, or financial firm and they will not resolve it, the Financial Ombudsman Service (FOS) can investigate and make a binding decision. Here is how the process works.

When to Use the Financial Ombudsman

Use the FOS for complaints about	Do NOT use the FOS for
Banks and building societies	HMRC (use tax tribunal)
Credit card and loan companies	DWP / benefit decisions (use mandatory reconsideration, then tribunal)
Insurance companies	Accountants (unless FCA-regulated)
Mortgage lenders and brokers	Employers (use employment tribunal)
Financial advisers (FCA-regulated)	Solicitors (use Legal Ombudsman)
Investment and pension firms	Energy companies (use Energy Ombudsman)
Money transfer services	Telecoms (use Ofcom/CISAS)
Debt collectors	NHS (use Parliamentary and Health Service Ombudsman)
Payday lenders	Unregulated cryptocurrency firms

Step-by-Step Complaint Process

Step 1: Complain to the Financial Business First

Detail	Information
This is required	You MUST complain to the firm first — the FOS will not investigate until you have
How to complain	In writing (email or letter) — keep a copy
What to include	What happened, what went wrong, what you want them to do about it
Their deadline	They must give a final response within 8 weeks
If they do not respond in 8 weeks	You can go straight to the FOS
If they refuse your complaint	You receive a “final response letter” — you can then complain to the FOS

Step 2: Receive the Final Response Letter

Outcome	Your next step
Firm upholds your complaint and offers fair resolution	Accept — complaint resolved
Firm offers a partial resolution	Consider whether to accept or escalate to FOS
Firm rejects your complaint	You have 6 months to refer to the FOS
No response within 8 weeks	Refer to the FOS immediately

Step 3: Submit Your Complaint to the FOS

Method	Details
Online	financial-ombudsman.org.uk — quickest method
Phone	0800 023 4567 (free), 0300 123 9123
Post	Financial Ombudsman Service, Exchange Tower, London E14 9SR
What to include	Your details, the firm’s details, what happened, what you want, copies of key correspondence
Time limit	Within 6 months of the firm’s final response letter

Step 4: FOS Investigation

Stage	What happens
Acknowledgement	FOS confirms receipt and assigns your case
Information gathering	FOS requests documents from you and the firm
Assessment by caseworker	An adjudicator reviews the evidence and gives an initial opinion
Initial opinion	If you accept — case resolved. If not — request an Ombudsman’s decision
Ombudsman’s decision	A senior Ombudsman reviews the case and makes a final, binding decision

What the FOS Can Award

Award type	Typical range
Refund of charges/fees	Full amount incorrectly charged
Compensation for financial loss	Up to £430,000 (complaints from April 2024+)
Interest on money owed	8% simple interest per year (standard)
Compensation for distress and inconvenience	£100–£500 (moderate), £500–£2,000 (significant), £2,000+ (severe)
Direction to correct a mistake	e.g. correct a credit file, reinstate a policy
Apology	Can recommend but not enforce

Compensation Limits

When the complaint occurred	Maximum award
From 1 April 2024	£430,000
1 April 2023 to 31 March 2024	£415,000
1 April 2019 to 31 March 2023	£375,000
Before 1 April 2019	£170,000

Common Types of FOS Complaint

Complaint type	What the FOS considers
PPI mis-selling (legacy)	Whether you were sold PPI you did not need or want
Bank charges or unfair fees	Whether charges were applied fairly and in accordance with terms
Insurance claim rejection	Whether the rejection was fair based on the policy terms
Mortgage advice	Whether advice was suitable for your circumstances
Investment losses from poor advice	Whether the adviser recommended suitable investments for your risk profile
Fraud and unauthorised transactions	Whether the bank should have prevented the fraud or reimbursed you
Delayed or denied pension transfer	Whether the firm handled your pension transfer promptly and fairly
Unaffordable lending	Whether the lender properly assessed your ability to repay
Credit file errors	Whether the firm reported accurate information

Tips for a Successful Complaint

Tip	Details
Keep all evidence	Emails, letters, call recordings, screenshots, statements
Note dates and times	When you spoke to the firm, who you spoke to, what was said
Be specific about what happened	Facts and chronology matter more than emotion
State what you want	Be clear about the outcome you are seeking
Explain the impact	How were you affected financially or emotionally?
Respond promptly to FOS requests	Delays on your side slow the process
Be honest	Inaccuracies undermine your credibility
Include a timeline	Especially helpful for complex complaints

What to Include in Your FOS Complaint

Essential information	Details
Your full name, address, date of birth	For identification
The firm’s name	Who you are complaining about
Account or policy number	Helps the firm locate your records
Timeline of events	What happened and when
How the firm responded to your complaint	Include their final response letter
Evidence supporting your complaint	Correspondence, statements, screenshots
What you want	Refund, compensation, correction to your account, etc.
The impact on you	Financial loss, stress, inconvenience

Timeline

Stage	Typical duration
Complain to firm	Allow 8 weeks for their response
Refer to FOS	Must be within 6 months of final response
FOS acknowledgement	1–2 weeks
FOS investigation	3–12 months (varies widely)
Adjudicator’s opinion	Part of investigation
Ombudsman’s final decision (if requested)	Additional 3–6 months
Payment of compensation (if awarded)	Within 28 days of accepting the decision

If You Disagree with the FOS Decision

Option	Details
Accept the adjudicator’s opinion	Case resolved — firm must comply
Reject and request Ombudsman’s decision	A senior Ombudsman reviews from scratch
Accept the Ombudsman’s decision	Legally binding on the firm — you receive what was awarded
Reject the Ombudsman’s decision	Decision does not bind you — you can pursue other options (e.g. court)
Take legal action instead	You can sue the firm in court, but cannot usually do both

The Ombudsman’s decision is final for the financial firm — they cannot appeal. If you accept it, they must pay. If you reject it, you keep your right to go to court but the FOS decision carries weight.

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