Lightyear Financial Ltd Complaints Policy
Lightyear Financial Ltd (“the Firm”) is a company registered in England and Wales (company number 12925823). Lightyear Financial Ltd is an appointed representative of RiskSave Technologies Ltd which is authorised and regulated by the Financial Conduct Authority (FRN: 775330).
Providing a high standard of customer service is a priority to the Firm. The Firm welcomes all feedback on its services at all times. If you have become dissatisfied with the services of the Firm please allow the Firm a chance to remedy this. The Firm accepts, investigates and reviews all complaints made to it.
Introduction
The Firm has implemented effective, fair and transparent procedures for the handling of customer complaints. These procedures are in line with the rules and guidelines set by the Financial Conduct Authority.
Should you have any concern or issue, in respect of any of the services offered by the Firm, your first action should be to submit a complaint by contacting our team on complaints@lightyear.com.
The complaints handling procedure below sets out the process for the submission of complaints by customers and the Firm's policy for handling such complaints.
What is a ‘complaint’?
The Firm defines a complaint as being:
- 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, claims management service or a redress determination, 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 of 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.
- 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, claims management service or a redress determination, which alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience.
How do you make a complaint?
To ensure the Firm can respond as quickly as possible please include the following in your complaint communication:
- The date on which the issue arose;
- The affected transaction numbers, if applicable; and
- A clear description of the issue.
Should the Firm find it necessary, they may contact you directly in order to obtain further clarifications and/or information regarding the complaint.
Please ensure that all communication does not include offensive language directed to either the Firm or any Firm employee.
Procedure for handling complaints
Investigation
Once a member of staff has received your complaint they shall acknowledge that they have received it and, where necessary, they shall investigate the complaint. When handling a complaint, the Firm shall communicate with you clearly, in plain language that is easy to understand and shall reply to you without undue delay, as well as keeping you properly informed.
The Firm will endeavour to resolve the complaint as soon as is possible, however please note that regulations provide the Firm with up to eight weeks to deal with a complaint.
Time Frames
The Firm will send the complainant a prompt written acknowledgement providing early reassurance that the complaint has been received and is being dealt with. This will happen within 1 business day of receiving the complaint.
The Firm shall aim to resolve the complaint within three business days and confirm this to you in writing. If we can’t do this, within eight weeks from receipt of the complaint we will send you:
- A ‘final response‘, being a written response from the Firm which:
- accepts the complaint and, where appropriate, offers redress or remedial action; or
- offers redress or remedial action without accepting the complaint; or
- rejects the complaint and gives reasons for doing so; and which:
- encloses a copy of the Financial Ombudsman Service standard explanatory leaflet;
- the website address of the Financial Ombudsman Service;
- informs the complainant that if they remain dissatisfied with the Firm’s response, they may refer their complaint to the Financial Ombudsman Service; and
- indicates whether or not the Firm consents to waive the relevant time limits;
- or a written response which:
- explains why the Firm 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/she may now refer the complaint to the Financial Ombudsman Service;
- indicates whether or not the Firm consents to waive the relevant time limits, if it becomes apparent that the complaint has been made or is referred outside those time limits;
- encloses a copy of the Financial Ombudsman Service standard explanatory leaflet; and
- provides the website address of the Financial Ombudsman Service.
A complaint will generally be seen to have been finalised when a written response from the Firm is provided to the complainant, which:
- accepts the complaint, and, where appropriate, offers redress; or
- offers ex gratia payment without accepting the complaint; or
- rejects the complaint and gives reasons for doing so;
- and which informs you that if you remain dissatisfied with the Firm’s response, you may now refer your complaint to the Financial Ombudsman Service and must do so within six months.
Where the complainant has received a substantive reply and does not, within 12 weeks after it being despatched, indicate that they are dissatisfied, then the complaint may be treated as settled on the terms of that reply provided the letter contained a sentence that it would be so treated.
The Financial Ombudsman Service
The Financial Ombudsman Service (FOS) is a free and easy-to-use service that settles complaints between consumers and businesses that provide financial services. The FOS looks to resolve disputes impartially and fairly with its decisions being binding. The FOS is a free service and complaints can be made at no cost to the complainant.
The FOS suggests that consumers give the Firm the opportunity to address the complaint in the first instance. Consequently, we recommend that you do not raise any complaint with the FOS until the Firm has issued you with a final response, or eight weeks have passed since you made the complaint (whichever is sooner).
FOS contact details:
Phone number: 0800 023 4567 (+44 20 7964 0500 if you're calling from outside the UK)