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If things go wrong when sending money overseas
The most important point to make is that you should always keep a receipt of your transaction. If things do go wrong, you should go back to the outlet where you sent the money from and present this receipt, or alternatively contact their customer services number which should be available from the outlet where you sent the money from. Most providers of money transfer services do have a customer service charter or something similar in place, which will enable you to get you a refund or at least provide an explanation of the difficulties and how they are going to be resolved.
If something goes wrong and the money transfer company you used is unable to resolve the problem to your satisfaction, you should contact the Financial Ombudsman for help. The Financial Ombudsman can be contacted in the following ways:
The Financial Ombudsman
Consumer helpline - 0845 080 1800
E-mail - complaint.info@financial-ombudsman.org.uk
Post - Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR
Telephone - +44 (0)20 7964 1000
Fax - 020 7964 1001
The table below shows a step-by-step way of how to resolve a complaint (courtesy of the Financial Services Authority (FSA):
How to complain about a firm
I have a complaint: what can I do?
Follow this diagram to see what steps you can take:
"This diagram is reproduced by kind permission of the Financial Services Authority (FSA). General information about financial services is available from theFSA which is an independent watchdog set up by the government to regulate services and protect your rights. It provides free and independent information about financial matters on its website at www.fsa.gov.uk
Further information
All the UK's high street banks and building societies are regulated by the Financial Services Authority (FSA) and subscribe to the Banking Code Standards Board (BCSB). MTOs are regulated by Her Majesty's Revenue and Customs (HMRC). These organisations will not be able to assist with individual complaints, but you can check with them to see if the provider you are using is operating legally and is regulated by the UK government.
Contact details
Financial Services Authority
FSA Consumer Helpline - 0845 606 1234 (minicom/textphone - 08457 300 104). Call rates may vary.
The FSA does not deal with specific consumer complaints, recommend firms or give legal advice. However, the Consumer Helpline can answer general queries about financial products and services. It can also tell you if a firm is authorised and help 'signpost' you if you have a complaint and don't know who to contact.
The Helpline is open between 8am and 6pm Monday to Friday offering both an automated publication request service and advisors to take your call.
HM Revenue and Customs National Advice Service
The national enquiries help line is open 8am to 8pm Monday to Friday.
If you have a question about MTOs, please call 0845 010 9000 then select option 3 on your telephone handset (+44 208 929 0152) outside UK.
To enquire about a specific MTO you will need to provide them with a Money Services Business (MSB) number or the company's registered name and address which HMRevenue and Customs require before they can help.
In addition, if you believe that a provider is operating illegally, HM Revenue and Customs provide a Customer confidential free-phone number, 0800 595000, where you can leave information concerning the provider in question.
Banking Code Standards Board
The mission of the BCSB is to ensure that the Banking Code and the Business Banking Code deliver their promises of fair dealing and standards of good banking practice to the customers of UK banks and building societies.
If you have a specific query on a bank, you can contact the BCSB through the enquiry form on their website, or by post, email or telephone.
Phone - 0845 230 9694
Fax - 020 7600 6914
Email - helpline@bcsb.org.uk
Post The Banking Code Standards Board, 6 Frederick's Place, London, EC2R 8BT
Although the BCSB cannot resolve matters directly, they may be able to point you in the right direction.
