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Banks and insurers take hard line on complaints in bid to cut costs.
Giant banks and insurers are stone-walling disgruntled customers and dragging their feet over simple complaints in a desperate bid to cut costs, a report reveals.
The independent Financial Ombudsman Service says that firms are increasingly deploying hardline tactics to reject legitimate complaints, leading to more agonising delays for customers.
Typically, this involves companies appealing initial decisions made by the Ombudsman and not coughing up compensation until being forced to do so. Insurers have also been rejecting more complaints in the first instance — with the Ombudsman seeing new cases rise by more than a third.
Read more: http://www.thisismoney.co.uk/money/n...#ixzz1j9NDTOgG
Banks and insurers take hard line on complaints in bid to cut costs.
Giant banks and insurers are stone-walling disgruntled customers and dragging their feet over simple complaints in a desperate bid to cut costs, a report reveals.
The independent Financial Ombudsman Service says that firms are increasingly deploying hardline tactics to reject legitimate complaints, leading to more agonising delays for customers.
Typically, this involves companies appealing initial decisions made by the Ombudsman and not coughing up compensation until being forced to do so. Insurers have also been rejecting more complaints in the first instance — with the Ombudsman seeing new cases rise by more than a third.
Read more: http://www.thisismoney.co.uk/money/n...#ixzz1j9NDTOgG
