If you are wrongly charged by the bank or become a victim of fraudulent activities, frustration arises when the bank doesn’t offer any help in these tough times. The bank may have alibis about unnecessary fees and may not help, thinking it was your fault in the first place.
If the bank ignores, then it is time to take the issues further and report them to higher authorities by filing a complaint against the bank. This move will not only help you but also other people who suffered from unfair business practices. Here are some steps to help you file a complaint against the bank.
Try to work things out with the bank
It is a basic right to raise a concern to the bank about issues faced. Work with the customer support team and provide complete information about the problem. If no customer representative can solve the issue over the phone, reach out through various methods, such as web-based messages. Make sure to save the conversations and take proper notes when speaking to a representative.
BankQuality listens to customer complaints
It is common for big financial institutions not to take any action over some issues. However, BankQuality ensures that every customer is heard whether the problem is big or small.
BankQuality is a customer-centric website that helps users review and rate the services of financial institutions. Instead of offering bank products, the website works to build the gap between users and financial institutions. A dedicated team works hard to bring out unbiased customer reviews that are published on social media channels, so banks can be informed about the concerns. BankQuality tags the right financial institution so that complaints won’t go unnoticed.
File a formal complaint if the issue still arises
If there are no solutions to the problems, even after chasing the bank for days and making multiple attempts to go through the customer service, file an official complaint. Choose an appropriate government agency or a company that will be in talks with the bank so it will take the right action.
Begin with filing a complaint with the Financial Industry Disputes Resolution Centre (FIDReC) or the equivalent agency in your country. It assists consumers in disputes with financial institutions. Consider filing a complaint by mail or in person.
File a specific complaint. Gather all the documents such as billing statements or messages from the organisation. Mention these points in the complaints to structure it better.
About the complaint
Fill in the accurate details such as the service being complained about, fraudulent charges or unnecessary fees, and the type of account that was utilised, and so on. The organisation supervises a range of financial companies, including banks, credit unions, lenders, financial technology firms, and more. Disclose the financial institution you are having trouble with.
Submitting the official complaint
The issue might be urgent but probably won’t receive an answer immediately. The FIDReC said the length of time needed to solve a case varies with the complexity of each case. Most of the cases registered with them are solved within six months.
The complaints can be a helpful resource for issues however, consider other banking alternatives depending on how bad the situation is.
At BankQuallity.com, you can learn about various banks and other financial service lenders that can help make smart financial decisions.