Financial Services Ombudsman

The Ombudsman is an independent person who, after a fair, thorough review of a complaint, decides if it is justified. If it is, the Ombudsman makes recommendations to resolve the problem. An Ombudsman is impartial and provides a free service. There are a number of ombudsmen in Ireland, and they look into different kinds of complaints.

The Financial Services Ombudsman deals with complaints against Financial Service Providers. This includes:

• Banks
• Building societies
• Insurance companies
• Credit Unions
• Mortgage, insurance and other credit intermediaries
• Stockbrokers
• Pawnbrokers
• Money lenders
• Bureaux de Change
• Hire purchase providers
• Health insurance companies.

The Financial Services Ombudsman Bureau was established under the Central Bank and Financial Services Authority Ireland Act 2004 which helps improve consumer protection. Along with the Sales of Goods and Supply of Services Act (1980) and the Consumer Information Act (1978) consumer’s rights with regard to goods and services, in particular financial services, are stronger than previously.

To read more about the Financial Services Ombudsman why not look at the available case studies and/or click to the Financial Services Ombudsman web site at www.financialombudsman.ie.