1. Introduction and Objective:
Currency Solutions Ltd (“CSL” or the ‘’Company’’) is committed to providing excellent customer service and ensuring that any complaints received are handled promptly, fairly, and transparently. The objective of this policy and procedure is to outline the process for handling complaints in accordance with the Financial Conduct Authority (‘’FCA’’) guidelines and regulations.
2. Definitions:
The Company considers a complaint as 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 which alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience.
The Company considers a Complainant as any natural or legal person who is presumed to be eligible to have a complaint (for more information please refer to Eligible Complainants FCA).
3. Complaint Handling Principles:
We are committed to offering the highest levels of services at all times. However, this doesn’t guarantee that complaints relating to the provision of services will not arise from time to time. If you are not satisfied with our Services, you can submit your complaint and offer us the opportunity to improve, resolve any issue and ensure it does not repeat in the future.
Our company adheres to the following principles when handling complaints:
a) Accessibility: We ensure that our clients have easy access to our complaint handling process and understand how to submit a complaint.
b) Fairness: We treat all complainants fairly and impartially, regardless of their status or relationship with our company.
c) Efficiency: We aim to resolve complaints promptly, within reasonable timeframes.
d) Transparency: We provide clear and understandable information about our complaint handling process to complainants. We tell them the outcome of any investigation and give our reasons for the decision to uphold or dismiss a complaint. If we can’t share something, we explain the reason and refer to any relevant legislation.
e) Accountability: We maintain records of all complaints and review them regularly to identify areas for improvement.
f) Continuous Improvement: We use complaint data to improve our services, systems, and procedures to prevent future complaints.
4. Complaint Handling Procedure:
4.1. Complaint Submission:
a) Clients can submit a complaint through various channels. The Complaint can be submitted:
By phone: +44 (0)20 7740 0000
Electronically, via email: By sending the complaint to the email address: complaints@currencysolutions.com
In hard copy via post/courier/personal delivery to the below address: Currency Solutions, Unit A, 4th Floor Hobbs Court, 2 Jacob Street, London, SE1 2BG.
b) Complaints should be addressed to the Complaints Department.
c) We encourage complainants to provide all relevant details, including their account information and the nature of the complaint.
d) The information submitted to the company must be accurate, complete and up-to-date, to enable an appropriate investigation and evaluation of each complaint. The company may request further information and/or clarifications and/or evidence in relation to each complaint.
e) The Company reserves the right to reject complaints based on false misleading information, complaints unsubstantiated by supporting evidence or in cases of deliberate withholding or non-disclosure of information and evidence in relation to the complaint. Submitting false or misleading information is a serious offense and we reserve the right to proceed with legal proceedings in such circumstances, including in cases where the Company suffers financial or other damage.
4.2. Complaint Acknowledgment:
a) Upon receiving a complaint, we will acknowledge it promptly, typically within 3 business days of receipt. The acknowledgment will include information about the expected timeline for final response and resolution.
b) Complaints related to an alleged fault in performance of the Company’s services or infringement of rights under the law or agreements with the Company shall be dealt with in accordance with this Complaint Handling Policy, internal regulations and policies of the Company and applicable legislation.
4.3. Complaint Investigation:
a) Our dedicated Complaints Team will investigate the complaint impartially. During the investigation process the company will keep the complainant updated on the handling process of the complaint.
b) The Complaints Team will review all relevant information and may request additional details from the complainant, if necessary.
c) We aim to resolve complaints within 15 business days after receiving it in cooperation with the relevant departments. In the event that a complaint is more complex and requires further investigation, we will send a holding response in writing indicating the reasons for the delay and specifying the deadline that you will receive the final response. The final response will not exceed thirty-five (35) business days from the date the initial receipt of your complaint.
4.4. Complaint Resolution:
a) Once the investigation is completed, we will provide a final response no later than 15 business days after the receipt of the complaint. The final response will include information on the outcome of the investigation.
b) If the complaint is upheld, we may offer appropriate redress or compensation, as applicable.
c) If the complaint is not upheld, we will provide a clear explanation of our decision and the reasons behind it.
5. Complaint Escalation:
a) Complainants have the right to escalate the complaint to the Financial Ombudsman Service (“FOS”). The FOS expects that a complainant will contact the business in the first instance to give it the opportunity to investigate the complaint and provide its response. If the complainant gives the opportunity to the Company and is dissatisfied with the outcome or resolution, they then have 6 months from the date of the final response to complain to the FOS.
b) If the complaint is lodged outside the 6-month period, the FOS will not usually consider the complaint, unless the delay is to due to exceptional circumstances (such as serious illness), the response from the business was invalid, or the business otherwise agrees that the FOS can consider the complaint despite the 6-month time limit having expired. More information on eligibility and requirements for submitting complaints to the FOS is available on the Ombudsman’s website, all contact details are indicated below:
Address: Exchange Tower, London, E14 9SR
Email: complaint.info@financial-ombudsman.org.uk
Telephone number: 0800 023 4567
From outside the UK: +44 20 7964 0500
Calls using Relay UK: (180002) 020 7964 1000 Switchboard: 02079641000
c) In certain circumstances you may also be able to submit your complaint to the FCA. Please contact the FCA on 0800 111 6768. Further details can be found here Financial Conduct Authority.
d) We cooperate fully with any external dispute resolution services and regulatory bodies involved in the complaint resolution process.
6. Training and Staff Awareness:
a) All employees and representatives involved in the complaint handling process receive appropriate training on the company's complaint handling policy and procedure.
b) We ensure that staff members are aware of their responsibilities, including treating complainants fairly, maintaining confidentiality, and handling complaints promptly and professionally.
7. Documentation and Reporting:
a) We maintain a central register of all complaints received, including details of the complaint, actions taken, and resolutions.
b) Regular reports on complaints are prepared and shared with the Senior Management to monitor trends, identify areas for improvement, and ensure compliance with FCA regulations.
8. Review and Improvement:
a) We review our complaint handling policy and procedure periodically, considering feedback from complainants, changes in regulations, and internal audits.
b) Any necessary improvements to the policy or procedure are implemented promptly and communicated to relevant staff members.
This Complaint Policy and procedure is designed to ensure that our company handles complaints effectively and in accordance with FCA regulations. By adhering to these guidelines, we aim to maintain high levels of customer satisfaction and continually improve our services.
