Complaints Procedure

1. Our promise to you

The Society aims to provide an efficient, friendly, personal service to all our members. We believe that we are here to serve you and are committed to treating you fairly at all times.

If at any time we fail to live up to these standards or give you any grounds for dissatisfaction then please do tell us. We promise that we will listen sympathetically and do our utmost to resolve any problem or misunderstanding promptly and in a fair and effective manner.  

2. Informing us of any complaint

There are two ways in which you can do this:

If convenient please raise any issue immediately with a member of our staff. Explain to them the nature of your problem. They will try to help and will refer you to their Manager there and then if appropriate, with a view to resolving the problem immediately. If this is not possible they will record the details of your complaint and arrange for it to be investigated.

It may be impractical or inappropriate to discuss the problem with a staff member, or your complaint may involve complex issues or legal matters. In these circumstances please contact the Society's Systems and Compliance Manager at the address shown at the bottom of this page. Contact may be made by any convenient means. Please explain fully the nature of the problem and we will endeavour to resolve it as quickly as possible.  

3. How we will deal with your complaint

Unless immediately resolved, we will investigate your complaint and write to you promptly: 

  • Detailing our understanding of your complaint and explaining why the Society acted as it did;
  • Offering redress where appropriate (whether or not we accept or reject your complaint, giving reasons for doing so);
  • Informing you how to pursue your complaint should you remain dissatisfied, and
  • Referring you to the ultimate availability of the Financial Ombudsman Service if you remain dissatisfied with the Society's response.

If your complaint is complex and we require a longer period to investigate then we will write to you promptly:

  • Acknowledging your complaint and detailing our understanding of it;
  • Providing the name and contact details of the person handling your complaint;
  • Enclosing a copy of this notice (unless already given to you) to ensure that you are fully aware of our procedure;
  • Explaining the reason for the delay, and
  • Providing an estimate of the period we need to reach a final decision

If after a period of eight weeks from receipt of your complaint we are still unable to give a response we will write to you:

  • Explaining why we are still unable to take a final decision and indicating when we expect to do so.
  • Informing you that if you are dissatisfied with the delay you may refer your complaint to the Financial Ombudsman Service.
  • Provide a copy of the Financial Ombudsman Service's explanatory leaflet (unless we have already done so). We will endeavour to provide you with our final response as quickly as possible.

If you are happy with our first response to your complaint then you need do nothing more - the Society will regard the case as closed if we do not hear from you within 8 weeks of our letter.

Final Response

If you are not satisfied with our first response, you can refer the matter to our Managing Director. He will carry out a further investigation and issue his decision in a final response which will also:

  • Inform you that you may refer the complaint to the Financial Ombudsman Service if you remain dissatisfied and that you have six months to do so.
  • Enclose a copy of the Financial Ombudsman Service's explanatory leaflet (unless already provided).

4. Complaints we receive against another firm

Where you make a complaint to us against another firm or you are uncertain that the complaint is against another firm, we will refer your complaint to the other firm within five business days. At the same time we will notify you of this action by way of a final response letter.

We sincerely hope that you will be satisfied with every aspect of your dealings with the Society. However, if you are dissatisfied please contact us. We will listen to your comments to ensure that the Society continues to provide a high quality service to all its members.

The address for notification is:

Systems and Compliance Manager
Monmouthshire Building Society
John Frost Square
Newport NP20 1PX

Telephone No: 01633 844444
E-mail Address: enquiries@monbs.com

Or Contact Us