Yes Loans – Complaints Policy
A primary goal at Yes Loans is to provide an excellent standard of service to our customers. We aim to operate with an exceptional level of care that places their needs and wellbeing at the forefront of our business. Sadly however things can sometimes go wrong and you feel the need to make a complaint. The following policy details how you should make your complaint and what we will do when we receive it.
Ways to complain
You can make your complaint in a number of ways:
- By post at: Unit 3, Fountain Parade, Barnsley. S75 6FW
What to tell us about your complaint
We will of course handle any complaint, regardless of how much, or how little, information you provide. However to ensure that we can try an put things right for you as quickly as possible, please provide as much as you can of the following:
- What it is that you are unhappy about.
- Any information or events leading up to this
- What you would like to see us do to resolve this matter*
- Anything else you think may be relevant to the complaint and our investigation.
* We may not always be able to resolve things the way that you would wish, however it often helps us to understand what YOU would like to see as an outcome to your complaint. Providing information about what you would like to see as a resolution is not a requirement of the complaints process, however experience has shown that this can, in some cases lead to a faster resolution.
What we do when we receive your complaint.
- To begin, we look at the information you have provided along with any records we have of your relationship with us. If we need any additional information from you we will ask for this via a call or email.
- The regulations allow, and encourage, for simple complaints an abbreviated complaint handling procedure. Where possible we will consider using this in the following way:
- We have a resolution to offer you by the end of the 3rd business day since receiving your complaint. We communicate this to you either verbally or in writing.
- You confirm, either verbally or in writing, by the end of the 3rd business day since we received your complaint, that you accept this as the resolution to your complaint.
- We provide you with a Summary Resolution Communication (SRC). An SRC will not provide details of your complaint or the resolution as we have already communicated these, however it will:
- Confirm that we have received yoru complaint.
- Confirm that we have provided you with a resolution to the complaint and that it is our understanding that you have accepted this.
- Provide you with detail of, and your referral rights to, the Financial Ombudsman Service should you later decide that you are no longer satisfied with the resolution.
- If we are unable to complete steps a and b within the 3 business days then we will automatically move to item 3.
- We will promptly write to you to acknowledge your complaint and advise you that we are dealing with it. Timing for this may vary, but we aim to do this within 5 business days.
- We will then investigate your complaint fully using all the information we have available. If we need further information from you we will write or call you to ask for it.
- When we have completed our investigation we will send you our Final Response Letter. This will detail our findings, the outcome of the complaint and any redress we feel is due to you. Please note that redress is not always financial and may take the form of an apology or offer to put things right. We aim to send this to you within 8 weeks of receiving your complaint.
- We will also provide you with details of the Financial Ombudsman Service (FOS) to whom you may refer your complaint for arbitration should you remain dissatisfied with our response.
- We want to keep you updated throughout the process and therefore if we are still not able to provide a Final Response Letter after 4 weeks have passed since receiving your complaint, we will write to you to advise of this.
- If we have not been able to provide our Final Response Letter within 8 weeks of receiving your complaint (which is very rare) we will write to tell you this too. At this stage we will also give you your referral rights to the Financial Ombudsman if you do not want to wait any longer for our decision.
The Financial Ombudsman Service (FOS)
The Financial Ombudsman Service provides an alternative arbitration service for customers who are unhappy with a business’s response to their complaint, without having to take the matter to the Courts.
When we issue our Final Response Letter or Summary Resolution Communication, we will give you your rights to refer the matter to the Financial Ombudsman Service and also explain how to do this. You will however only have 6 months from the date we issue our final response letter to make this referral, otherwise if you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances. We will provide full details of this within our final response. The web address and contact details for the Financial Ombudsman Service is provided below.
You must make your complaint to us to investigate first before you can refer the matter to the Financial Ombudsman Service.
By post: Financial Ombudsman Service, Exchange Tower, London, E14 9SR
By telephone: 0300 123 9 123 or 0800 023 4 567
By text: 07860 027 586 (The Financial Ombudsman Service will call you back)
Or their website is at www.financial-ombudsman.org.uk
European Online Dispute Resolution Platform
You do also have the option to submit your complaint via the European Online Dispute Resolution (ODR) platform. This can be done by following this link - http://ec.europa.eu/consumers/odr/
PLEASE NOTE: While this platform is very useful for making complaints against businesses in other countries where you do not know their contact details or their arbitrator, in some cases this may slow the process down.
We will still be required to investigate the complaint using all the process details above, and you will still have the right to refer to the Financial Ombudsman Service if you remain unhappy. However using this method the complaint will have travelled from the European Online Dispute Resolution Platform to the UK Financial Ombudsman Service and then to us. The clock for investigation still only starts when we receive the complaint.