The purpose of this policy is to outline how we handle complaints as a company, and the expectations and regulatory requirements that must be followed. At NWC Finance Ltd, we like to ensure that our customers receive the best service possible, and a product that fits their demands and needs. We are determined to treat our customers fairly throughout all of our processes, and this is included within our responsibilities when handling a complaint.
This policy will detail how a customer can make a complaint, the internal responsibilities of how staff must handle and log a complaint and the steps that we will take once this has been done.
As per FCA material, they define a complaint, in part, as the following –
‘Any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service, claims management service or a redress determination, which alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience.’
We always aim to be fair and honest, so if you have a complaint about any aspect of our service or your product then we want to hear about it so that we can aim to resolve it as quickly as possible. Should you wish to make a complaint, you can do so as follows:
By Post: 42-44 Station Road, Northwich, CW9 5RB
By Phone: 01606 330413
By Email: email@example.com
Once we receive your complaint, we will try to resolve the matter as soon as possible. We aim to acknowledge receipt of the complaint within 3 working days. We must point out however that we have a maximum of 8 weeks, starting from the date which we receive the complaint from you, to provide you, as the complainant, with a final response. If we require more time to investigate a complaint, we will contact you within the eight-week period to inform you of this, ask for your agreement to extend this period and provide you with the Financial Ombudsman Service’s information. A final response will then be sent to you by the conclusion of the agreed time extension.
If you are not satisfied with our final response, you have the right as a consumer, to refer the matter to the Financial Ombudsman Service, within six months of the date of our final response letter (a copy of which they may ask you to send to them). Their contact details are as follows:
Financial Ombudsman Service, Exchange Tower, London, E14 9SR
Web site: www.financial-ombudsman.org.uk
Tel: 0300 123 9123
You can also report any relevant concerns to the Information Commissioner’s Office (ICO):
Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF
Tel: 0303 123 1113 (local rate) or 01625 545 745 if you prefer to use a national rate number.
Internal Process and Responsibility
To ensure that we handle our complaints efficiently and effectively, any correspondence or notes from phone communication will be documented on our system. This will allow Anthony to review the whole complaint and refer back to any point in the investigation if he is required to do so. Any documentation received regarding the complaint will also be uploaded to the application.
All records of complaints will be kept as per our retention periods, only employees that require access to customer complaint notes will be granted this information.
Staff will receive complaints training within their initial induction and at least once a year. Training will ensure our team understand the processes that we have in place and the regulatory importance of following these processes. At any time, staff have the opportunity to request further training on any aspect of our business.
As a company, we ensure that we follow all regulatory guidelines, including treating customers fairly. When it comes to complaints, we guarantee that our customers will not face any post sale barriers. Our staff are aware that they need to assist customers as much as possible when they wish to make a complaint, and they should not receive any different service. Customers will have their expectations managed, and staff will explain the complaints process so a customer can understand the next steps.
If a customer makes a complaint about a specific member of the team, that employee will not have any involvement in handling the customers complaint.
We will ensure that our complaints procedure is in a clear location so our customers can access with ease.
Point of Contact
Complaints will currently be handled by Anthony. In the event a customer makes a complaint, staff must either email or pass a call through to Anthony to handle the complaint further. He will then liaise with the customer and broker/lender as required, and if applicable issue a final response letter or summary resolution.
It’s important that we can differentiate between a complaint and an SQ issue. Whilst they are different, we do adopt the same principles, and try to assist our customers rectify any issues they have with their vehicle. We provide this service as an extension to our offerings in the hope we can make the customer’s journey as easy as possible.
All SQ’s will be documented on our complaints log (listed within this document) for management information purposes, which assists in providing additional information on broker/dealerships and their service/business activities.
Monitoring and Compliance
All complaints and SQ issues will be documented on our complaints log. This will be kept up to date with as much information as possible. Full details of a complaint and any correspondence will be able to be found on our internal systems.
The complaints log will be used for management information, it will also be reviewed to consider if any patterns are emerging.
We will ensure that we keep up to date with any regulatory requirements with complaints, re-evaluating process to ensure we are carrying out procedure as required. All complaints against us will be documented in the relevant GABRIEL report.
This policy, along with our complaints procedure will be reviewed on at least an annual basis. Any updates will be reissued to our team, along with any training to ensure they fully understand the changes that have been made.