We recognise that things can go wrong. We want to learn from our mistakes and improve your experience whenever possible.
So, we've made it as easy as possible to raise a complaint with us, either through email (at email@example.com), by post or Chip's live-chat (this can be found under the profile tab in the app).
Our registered address is: Chip Financial Ltd, 7 Bell Yard, London, WC2A 2JR.
We will do our best to resolve your complaint immediately and we aim to respond to any complaints within two business days of receipt.
Sometimes it may take longer to fully investigate your concerns. Where this is the case, we will:
● Send you a written acknowledgment within 3 working days.
● Keep you informed of what is being done to resolve your concerns.
● Other than for Investment Platform related complaints, if your complaint will take longer to resolve, we will provide you with a final response within 15 business days. If we are unable to do so, we will always write every week explaining what is happening and when we expect to resolve your complaint.
● Other than for the Investment Platform related complaints in exceptional circumstances, we may provide a full reply within 35 business days.
As an appointed representative of P1 Investment Management (P1) P1 are accountable for all Investment Platform specific complaints and will receive copies of all complaints.
Upon receipt of a complaint we will do all we can to resolve your concerns within 3 business days, and confirm this to you in writing. If a resolution has not been reached then the complaint will be forwarded to P1.
Paul White, the Compliance Director of P1, is the nominated point of contact for P1 with regards to your Investment Platform related complaint. He will take an objective view of the complaint and will investigate your concerns within the timescales explained in this document.
He will write to you, normally within five business days, to acknowledge your complaint and to let you know when he expects to be able to issue a full response.
When acknowledging your complaint, especially in the case of an oral complaint, we (Chip or P1) will set out the nature of the complaint and may request further clarification if necessary. Your complaint will be investigated using our files together with reports from other parties if relevant. We may also write to you if further information is required. We will keep you informed of the progress of the complaint investigation.
You can also address Investment Platform related complaints to the following address:
P1 Investment Management Limited
By email: firstname.lastname@example.org
By telephone: 01392 429683
After 8 weeks, if a final response letter has not already been sent to you, you will receive;
● A final response letter detailing our conclusions and resolution to the complaint. This letter will also confirm that if you remain dissatisfied with our final response that you may refer your complaint to the Financial Ombudsman Service (FOS) within 6 months of the date of our final response letter, otherwise you would lose this referral right. A copy of the FOS leaflet ‘your complaint and the Ombudsman’ will be enclosed, if not already supplied. See further information on referral to the FOS below.
● A response that we are still not in a position to make a final response, giving the reasons for the further delay and indicating when we expect to be able to provide a final response;
● Informing you that you may refer your case to the FOS if you are dissatisfied with the delay.
● A copy of the FOS leaflet ‘your complaint and the Ombudsman’ will be enclosed, if not already supplied. See further information on referral to the FOS below.
Please bear in mind that if your complaint involves information from third parties some delays could be beyond our control. We will, however, pursue information on a regular basis.
We aim to resolve your complaint as quickly as possible and to your complete satisfaction.
If for any reason you’re unhappy with our final response or we’re unable to issue a final response within 8 weeks for an Investment Platform related complaint or 35 working days for all other complaints you can refer the matter to the Financial Ombudsman Service.
The Financial Ombudsman Service who can be contacted as follows:
● Telephone: call them on 0800 023 4567 or 0300 123 9123
● Email: email@example.com
● Post: write to them at: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR.
● Website: www.financialombudsman.org.uk
It’s important that our complaints procedures are finalised before you contact the Financial Ombudsman, as they will only investigate once we have issued our final response, or after the end of the 8 week or 35 working day period. If you are not satisfied with our final response and you wish to refer to the Financial Ombudsman Service, you only have six months from the date of our final response to refer. However, none of these procedures affect your legal rights.
In the event that we receive a complaint that is not about us, or our services, and assuming that we can identify the firm to whom the complaint should be addressed, we will carry out the following action (please expand to see more):
● We will write to the firm concerned, explaining that we believe the complaint to be theirs, and suggesting that they contact you, the client, directly.
● We will enclose a copy of the original complaint letter.
● We will write to you, the client, giving contact details of the firm, and invite you to get in touch with them. We will also enclose a copy of the letter we send to the firm.
● We will copy the new firm in on this letter as well.
We recognise that things can go wrong.We want to learn from our mistakes and improve your experience whenever possible. So, we've made it super easy to raise a complaint with us, either through email (at firstname.lastname@example.org), Chip's live-chat or by post.
Our postal address is: Chip Financial Ltd., 64 Chancery Lane, London, WC2A 1QU
When you state your intention to complain, a member of our Customer Success team will send you an email with our 'Chip' complaints form.
In your complaint, please let us know your issue concisely, give all relevant information regarding the issue, and let us know how you would like it to be resolved.
Once we have received your complaints form, we firstly want to work alongside you to resolve the issue you've faced quickly and efficiently (as per the FCA's DISP regulations).
We will confirm that we received your complaint within two working days, and our Head of Customer Trust and Satisfaction will respond to you within seven working days (but likely much sooner!).
If your issue is not resolved within seven working days, or you are not happy with our final response (within the first 35 days), you can take your case to the Financial Ombudsman Service (FOS). We will remind you when you can escalate your case to the Ombudsman.
You can complain to the Ombudsman if we've not addressed your complaint after eight weeks, or once you receive a final response from Chip, they will carry out an independent review.
The FOS can help with most complaints if you are:
A) A consumer
B) A business employing fewer than 10 persons that has an annual turnover that doesn't exceed €2 million
C) A charity with an annual turnover of less than £1 million
D) A trustee of a trust with a net asset value of less than £1 million
Please note that in accordance with regulatory obligations, Chip will compile a report of each complaint. These records will be retained for no less than three years from the date the complaint was received.
We will continue to develop and refine our complaints process so we can deliver an outstanding customer experience for everyone.
If you do make a complaint, we will take it seriously, work hard to resolve your problem, and learn from it. We treat every complaint as an opportunity for us to improve your experience with Chip.
Last updated - 03 April 2019