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How-to · Step-by-step

How to complain about a financial firm and escalate to the Ombudsman

In short. Complain in writing to the firm first. They have 8 weeks to give a final response. If you're not satisfied, refer it to the Financial Ombudsman Service within 6 months of the final response — it's free for consumers.

The Financial Conduct Authority requires regulated firms to have a complaints procedure. You don't need a lawyer or a claims company — escalating to the Financial Ombudsman is free and independent.

Last reviewed:

·Estimated time: P8W·Cost: Free for consumers

What you'll need

  • Account details and a clear timeline of what went wrong
  • Copies of relevant correspondence, statements and screenshots
  • A note of what outcome you want (refund, fee waiver, apology, etc.)

The steps

  1. 01

    Complain to the firm in writing

    Use the firm's complaints procedure (usually on the website or in T&Cs). Include 'this is a formal complaint' so it's logged correctly. Keep it factual: what happened, when, what you want.

  2. 02

    Give the firm up to 8 weeks

    Most complaints must be resolved within 8 weeks. The firm should either give you a final response or explain why it can't yet — and tell you about your right to the Financial Ombudsman.

    Official link →

  3. 03

    Refer to the Financial Ombudsman Service

    If you're unhappy with the final response (or 8 weeks have passed), refer the complaint to the Financial Ombudsman within 6 months of the final response. Use the online form, phone or post.

    Official link →

  4. 04

    Co-operate with the investigation

    The Ombudsman will ask both sides for evidence. Decisions can include compensation, a redress payment or a binding order on the firm. If you accept, it's binding on the firm.

Common pitfalls

  • Don't pay claims-management companies — the Ombudsman is free
  • Keep within the 6-month referral window after the firm's final response
  • Some complaints (e.g. lifetime mortgages older than the time bar) may be outside the Ombudsman's jurisdiction

FAQ

Is the Ombudsman's decision binding?
Final Ombudsman decisions are binding on the firm if you accept them. You can reject and pursue the matter through the courts instead.
How much compensation can the Ombudsman award?
From 1 April 2024 the binding award limit is £430,000 for complaints about acts or omissions on or after 1 April 2019 (lower bands apply to earlier events).
What if my firm is not authorised?
The Ombudsman generally covers FCA-authorised firms. If a firm is not authorised, report to the FCA and consider Action Fraud if you've been scammed.
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