How should I write and submit a complaint to a financial institution?
Seven tips for writing a complaint to a financial institution:
1. Find out how you can submit your complaint.
Refer to the financial institution’s complaints resolution rules or other rules for handling complaints. The usual methods for submitting complaints are:
- in writing by post
- at a branch of the financial institution
- by e-mail
- by telephone
- via the financial institution’s website (e.g. through the internet banking service operated by banks)
We recommend submitting your complaint in writing by post or e-mail (you will then have proof that you submitted/sent it).
As a rule, the complaints resolution rules or other rules for handling complaints can be found on the website of each financial institution. The complaint handling procedure should also be regulated in your contract with the financial institution or in the terms and conditions.
2. Find out when you can expect a response to your complaint.
You can find this information in the complaints resolution rules – as a rule, it is 15 to 30 days.
3. Describe the problem.
The text of your complaint should include what the problem is and identification information about yourself and the contract you have concluded with that financial institution; alternatively, identify the service you are complaining about in another way.
Then try to describe what exactly you are dissatisfied with. Ideally, you should describe what happened, when, where and how (e.g. the obligations towards you that the institution breached or where you see a breach of the contract or one of its provisions). Do not forget to state what you are specifically seeking from the financial institution.
4. Be specific.
Be as specific and formal as you can. Avoid vulgarity.
5. Enclose/attach any relevant documents.
Enclose/attach with your complaint any contracts, recordings of communication with the financial institution or other material you have available to prove your claim. This can significantly facilitate the resolution of your case. However, be sure to retain the originals.
6. Indicate the date and contact information.
If you are sending your complaint by post, do not forget to state the date and your address, and possibly also your telephone number and e-mail address.
7. Archive.
Retain the resulting complaint for future reference. If you are submitting your complaint in person at a branch of the financial institution, request a written copy of the complaint. If you are making your complaint by telephone, you can make an audio recording for future reference.