Here at Nationwide Vehicle Contracts, we take Treating Customers Fairly (TCF) very seriously. All firms regulated by the Financial Conduct Authority (FCA) must pay due regard to the interests of its customers and as a consequence, TCF is an integral part of our culture and is embedded in all areas of our business from systems and controls to training, remuneration and staff behaviour.
The principles of TCF are not new and are part of existing regulatory requirements. They aim to raise standards by introducing a series of changes that will benefit consumers and increase their confidence in the financial services industry.
As TCF is not a ‘one-size-fits-all’ concept, Nationwide Vehicle Contract has put together some information on what TCF means to us including what you can expect from us, how we deliver this, what is expected of you and what to do if you feel you have been treated unfairly.
The FCA has outlined six outcomes as part of TCF. These include:
Outcome 1: Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances.
Outcome 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is both of an acceptable standard and as they have been led to expect.
Outcome 6: Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
TCF is an integral part of Nationwide Vehicle Contracts’ business culture and we are continuously working to ensure customers are treated fairly. As a result, you can expect the following services when dealing with us:
TCF is a continuous process and we’re implementing many process throughout the business to ensure we comply. These include:
In order to deliver the best possible service, we rely on you (the Customer) to also play your part. An efficient service relies as much on capable and confident consumers as it does on the firms who are committed to treating customers fairly. When dealing with us, we expect you to:
A critical element of TCF is how we handle customer complaints. It is our aim to provide a very high standard of service to every client but on occasion, things do go wrong. If you have a complaint about any aspect of our service, we would like to hear from you.
To help us investigate and resolve your concerns as quickly as possible, you should contact our Customer Services team on 0345 811 9595 (option 3) or email email@example.com. A full explanation of how we will deal with your complaints and what to do if you think your complaint has not been resolved to your satisfaction is in our Complaints Procedure.
If you have a regulated consumer contract with us and are not satisfied with our final response, you may be eligible to refer the matter to the Financial Ombudsman Service. You must do this within six months of our final response and we will also provide you with a copy of the Financial Ombudsman Service’s explanatory leaflet when we send our final response.