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Keep Records
Keep a file of any documents relevant to your complaint. This should include copies of letters you send to the financial organization you're complaining to, their reply and a record of any telephone conversation you have. Each time you speak to someone jot down their name, title and the date and time of your discussion and what was said.
Complain in writing
It's most effective to complain in writing because this gives you time to state clearly what you're upset about and a letter is harder to ignore than a telephone conversation. Write "complaint" at the top of the letter together with important details such as your customer, policy or account number.
Keep letters short and to the point. Spell out why you're upset and what you want the organization to do about it. Include copies of any documents that support your case, but don't send originals in case they get lost.
Any reputable financial firm or bank will have an internal complaints procedure. Find out what it is and if you're not happy with the person who's handling your complaint ask to deal with their boss. Sometimes going straight to the top - the chairman or managing director, for example, can work wonders - depending on the firm's culture. Richard Branson has been known to phone startled customers himself following a letter of complaint.
If your complaint is against a bank write to your bank manager first and ask them to reply within a reasonable time - say two weeks. If you're not happy with their response ask them to look at it again or take it to the regional office or customer relations team at head office. If your complaint hasn't been sorted out after eight weeks you can contact the Financial Ombudsman Service.
Using the Ombudsman
The ombudsman will look at complaints against most financial products and services from insurance and pension plans to bank accounts and investments. But the ombudsman will only consider your complaint after you have gone through the firm's internal procedure.
There are some areas that the scheme can't deal with such as complaints against "commercial judgment" like deciding whether or not to give someone a loan. The scheme can't comment on the way an investment has performed or give advice on debt problems.
Some 60 banks, covering 99 per cent of all personal customers, belong to the scheme. The banks fund the scheme through a levy and the ombudsman has the power to insist that banks pay up to �100,000 in compensation.
