Complaints Handling Policy

Payron Limited

Definitions

“FCA” refers to the Financial Conduct Authority of the United Kingdom (https://www.fca.org.uk/ (opens new window));

“FOS” refers to the Financial Ombudsman Service of the United Kingdom (https://www.financial-ombudsman.org.uk/ (opens new window));

“Company” denotesPayron Limited (UK) with its register number 12566417, authorised and regulated by FCA as an Electronic Money Institution, FCA Licence number 927991 (https://register.fca.org.uk/s/firm?id=0014G00002WKdK1QAL (opens new window));

“Services” encompass financial services provided by the Company to its customers (detailed information is available through the Payron website https://www.payron.com/services/ (opens new window));

“Complaint” signifies an expression of dissatisfaction about the provision of, or failure to provide, a financial service by the Company resulting in financial loss, material distress, or material inconvenience;

“Complainant” refers to a customer bringing a complaint against the Company;

“Summary resolution communication” (SRC) is a written response of the Company indicating that the Complainant has filed a complaint and that the Company considers it resolved. The SRC also details how the Complainant can refer the Complaint to the FOS if dissatisfied with the resolution.

“Complaints Officer” is an employee designated by the Company to oversee, investigate, and keep records of all customer complaints.

“Holding response” is a written response of the Company explaining why it is not yet in a position to resolve the Complaint and indicating when the Company will make further contact (which must be within 8 (eight) weeks of receipt of the Complaint).

Introduction

The purpose of this Policy is to provide clear guidelines with regards to the handling of customer complaints in accordance with the standards and requirements of the FCA as the regulatory oversight institution and the FOS as a service that settles complaints between consumers and businesses providing financial services.

The aim of this Policy is to ensure that Payron handles customer complaints (written or verbal) in a consistent, fairly, timely, effective, and regulated manner.

Where a customer has a reason to complain, the Complaints Handling Policy will be followed and a detailed record of the nature of the Complaint will be made to help the Company improve its services and customer experience and avoid complaints of a similar nature in the future.

Complaints Handling Principles

Objectives

The Company must ensure that the following objectives are met for effective complaints handling:

  • A clear and easy-to-use procedure for any customer wishing to make a complaint is in place.
  • The procedure is accessible through the Payron website (https://www.payron.com/complaints-handling-policy/ (opens new window)) and, if necessary, upon customer request.
  • All staff are aware of their functions relating to complaints handling;
  • All complaints are investigated fairly and promptly, and the results are used to improve customer experience.

Requirements

The customer shall submit a Complaint to the Company in writing. The Company will investigate the Complaint submitted and provide a motivated reply to the Complainant in line with the following requirements:

  • The Company must send the Complainant a written acknowledgement of the Complaint within 5 (five) business days of its receipt, giving the name or job title of the employee handling the Complaint;
  • If the Company can resolve the Complaint within 3 (three) business days of receipt, it will send the Complainant a summary resolution communication (SRC);
  • The Company must send the Complainant either a final or holding response within 4 (four) weeks of receiving the Complaint;
  • By the end of 8 (eight) weeks of receiving the Complaint, the Company must send the Complainant either a final response or a response, which;

(a) explains that the Company is still not in a position to make a final response, gives reasons for the further delay and indicates when it expects to be able to provide a final response; and

(b) informs the Complainant that he may refer the Complaint to the FOS if they are dissatisfied with the delay and encloses a copy of the FOS's explanatory leaflet.

  • The Company will always respond to complaints in writing and update complainants periodically on the progress of measures taken to resolve their complaint;
  • The Company will inform complainants of their rights and provide them with FOS and FCA contact information should they wish to escalate their complaints;
  • All complaints will be investigated and responded to by the Complaints Officer or a dedicated trained employee, with a full outcome summary provided to Senior Management.
  • Complaint records will be used to revise the Company procedures and improve customer experience and business practices where applicable.

Complaints Handling Procedure

Submitting a Complaint

The Complaint should be sent to complaints@payron.com for the Complaints Officer to review. Alternatively, the Complaint can be sent by post to the Company office at: Interchange House, 1st Floor 81-85 Station Road, Croydon, London, England, CR0 2RD.

Acknowledging the Complaint

If the Company can resolve the Complaint within 3 (three) business days of receipt, it will send the Complainant a summary resolution communication (SRC).

Otherwise, the Company must send the Complainant a written acknowledgement of the Complaint within 5 (five) business days of receipt. The acknowledgement will detail the complaint handling procedure and approximate timelines for investigating and sending a final response.

Investigating the Complaint

The Complaints Officer or a dedicated trained staff member will gather all necessary documents, recordings, and information to investigate the Complaint.

A reference number should be assigned to the Complaint, and all documents relevant to the Complaint should have this reference number written or printed on them for control and record-keeping purposes. A reference number should be assigned to the Complaint, and all relevant documents should bear this reference number for control and record-keeping purposes.

Final Response (Decision Letter)

Once the investigation is complete, the Complaints Officer or a dedicated trained staff member will prepare a final response (decision letter) containing the findings and the decision on any action to be taken or compensation awarded.

The Company must send the Complainant a final response within 4 (four) weeks of receiving the Complaint. In complex cases, where it is not possible to send a final response within 4 weeks, the Company has 8 (eight) weeks of receiving the Complaint. In this case, the Complaints Officer shall send the Complainant a holding response which:

  • explains why the Company is not in a position to make a final response and indicates when it expects to be able to provide one;
  • informs the Complainant that he may refer the Complaint to the FOS; indicates whether or not the Company consents to waive the relevant time limits set out in DISP 2.8.2 R or DISP 2.8.7 R if it becomes apparent that the Complaint has been made or is referred outside those time limits;
  • encloses a copy of the FOS standard explanatory leaflet and provides the FOS contact details.

If the Company cannot send a final response by the end of 8 (eight) weeks after receipt of the Complaint, it will inform the Complainant of their right to refer the Complaint to the FOS if they are dissatisfied with the delay and encloses a copy of the FOS standard explanatory leaflet, contact details and a link to the FOS website.