FOS rules out charging complainants

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The Financial Ombudsman Service (FOS) has ruled out charging "nominal" fees to complainants, agreeing with Parliament's view the service must be free to ensure the public's confidence in it.

In its latest update, the service said businesses often suggest it charge consumers and claims managers for referring unresolved complaints, with one company suggesting it introduce "a nominal fee of £50 to £100". But the FOS, which is funded by £550 case fees and an annual levy on the financial services industry, said its view on charging consumers "is very unlikely to change". It pointed out Parliament decided a free ombudsman service underpins confidence in financial services, and that it recognises "some of the people most in need of help might not be in a position to pay [a fee]"...

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