Purpose
The purpose of this Complaints Policy (Policy) is to make sure that:
- all Complaints are dealt with honestly, fairly, at an appropriate level;
- as far as possible the quality of our client relationships is preserved; and
- complaints are utilised as part of our work to continually improve our internal procedures, systems, and controls.
A Complaint should be addressed seriously, and the proper management and resolution of a Complaint is particularly important – not only does it lead to client satisfaction, but it is also a useful tool for identifying opportunities to improve our internal procedures, systems, or controls to ensure that we continue to provide a quality service to all our valued clients.
Regulatory Framework
This document has been created to ensure Novoville complies with the Electronic Money Regulations 2011 (as amended by the Payment Services Regulations 2017), The FCA Approach Document, and the FCA Handbook (DISP).
Responsibilities
The Company ensure that all staff are provided with the time, resources and support to learn, understand and implement the complaints procedures and associated policy into their business practices. Senior Management are responsible for a top-down approach and in ensuring that all staff are included.
Definition
Under DISP I of the FCA Handbook a complaint is defined 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; and
- Relates to an activity of that respondent, or any other respondent with whom that respondent has some connection in marketing or providing financial services or products or claims management services, which comes under the jurisdiction of the Financial Ombudsman Service.
Novoville recognizes that there is a distinction between an EMD complaint and a non-EMD complaint. The key difference between these types of complaints is that non-EMD complaints are broader in scope than EMD complaints.
Novoville recognizes that there is a distinction between an EMD complaint and a non-EMD complaint. The key difference between these types of complaints is that non-EMD complaints are broader in scope than EMD complaints.
A EMD complaint as defined under the Electronic Money Regulations 2011 (EMRs) is a complaint that relates to the conduct of business rules specifically covering:
- the information provided to customers as part of the issuance of e-money and related payment transaction; and
- the rights and obligations of the payment service provider and the customer in relation to payment transactions.
The time limits for handling EMD complaints differ from the complaints that are non-PSD complaints. Therefore, all complaints will be measured against the DISP definition for the reasons set out within the ‘time limits’ section of this policy.
Who is eligible to make a complaint to Novoville?
Novoville accepts complaints from those who are eligible and non-eligible (for EMD complaints) who believes that the firm should have provided a better service or managed a situation in a more appropriate manner. This can be from a business that has received a service from us, or that has been impacted by the service that has been delivered.
Who is eligible to make a complaint to the Financial Ombudsman Service?
The guideline on the types of complaints that the Financial Ombudsman Service (FOS) handles can be found here.
A complaint can only be dealt with by the FOS if it brought by or on behalf of an eligible complainant.
DISP 2.7 defines who an eligible complainant must be:
| Eligible Complainant | Definition |
|---|---|
| Consumer | any natural person acting for purposes outside his trade, business or profession. |
| Micro-enterprise | an enterprise which: (a) employs fewer than 10 persons; and (b) has a turnover or annual balance sheet that does not exceed €2 million |
| Small charity | a charity which has an annual income of less than £6.5 million at the time the complainant refers the complaint to the respondent |
| Small trustee | a trustee of a trust which has a net asset value of less than £5 million at the time the complainant refers the complaint to the respondent |
| CBTL consumer/business | N/A |
| Small or medium size enterprises | A business with a turnover of less than £6.5 million, and less than 50 persons or has a balance sheet of less than £5 million. |
| Guarantor | N/A |
For the purposes of the table above, some of the categories of eligible complainants have not been expanded upon as they do not apply to this business model.
DISP 2.7.6 states that to be an eligible complainant that a person must also have a complaint which arises from matters relevant to one or more of the following relationships with Novoville:
- The complainant is (or was) a payment service user of Novoville
- The complainant is (or was) a potential payment service user of Novoville
- The complainant is (or was) a payer in a payment transaction in relation to which Novoville is (was) the payee’s payment service provided, provided the complaint relates to Novoville obligations under regulation 90 (3) of the Payment Service Regulations.
Time Limits
The regulatory time limits for handling complaints are very distinct in that the time to manage them will be dependent on whether they are an EMD complaint or a complaint under DISP. To ensure that identification of the type of complaint is effectively handled, the time limits that have been adopted are the ones stipulated for EMD complaints. We recognise that these time limits are shorter in length than those under the DISP rules, but have chosen to follow the former, as to minimise the risk of breaching regulatory requirements.
Novoville will aim to resolve all Complaints within the following timeframes:
- A final response will be sent to complainants by the end of 15 business days after the day on which it received the complaint.
- In exceptional circumstances, if a final response cannot be given by the 15 business days deadline, for reasons beyond Novoville control, we will:
- Send a holding response to the complainant by the end of 15 business days after the day on which the complaint, clearly indicating the reasons for the delay in answering the complaint and specifying the deadline by which it will send the final response: and
- Send a final response to the complainant by the end of 35 business days after the day on which it received the complaint.
How are Complaints received?
Complaints can be received over the phone, by email, or through the “contact us” form on our website. Once the complaint has been received, a member of staff will copy key information over to our internal complaints tracker.
How Complaints will be handled
On receipt of a complaint about our services, we aim to resolve the complaint as quickly as possible. We will do this by:
- Acknowledging the complaint promptly
- Investigating fully the reasons for the complaint
- Providing timely updates on the status of the complaint
- Resolving the complaint within the specified timeframes including reasons for our decision
Complaints will be handled by a relationship manager, who will investigate, assess the merits of the complaint, and make a proposal for resolution. In the cases, where the complaints are more complex in nature, escalation to a member of the board will be made for the approval for the proposed resolution and associated response to the complainant.
Final Response
On conclusion of our investigation into the complaint made, Novoville will provide the complainant with a final response and referral rights to the Financial Ombudsman Service (FOS), if required. The final response letter shall reflect the guidelines set out below.
A written response which
- Accepts the complaint, and, where appropriate, offers redress; or
- Offers redress without accepting the complaint; or
- Rejects the complaint and gives reasons for doing so;
- encloses a copy of the Financial Ombudsman Service's standard explanatory leaflet;
- provides the website address of the Financial Ombudsman Service;
- informs the complainant that if he remains dissatisfied with the respondent's response, he may now refer his complaint to the Financial Ombudsman Service; and
- indicates whether or not the respondent consents to waive the relevant time limits in DISP 2.8.2 R or DISP 2.8.7 R (Was the complaint referred to the Financial Ombudsman Service in time?) by including the appropriate wording set out in DISP 1 Annex 3R; or
“You have the right to refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of this letter.”
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.”
