The Irish Financial Services Regulatory Authority (IFSRA) has drawn up clear guidelines for consumers who feel they have reason to complain about the service they receive from their bank. This advice can be found on www.ifsra.ie under the "It's your money" section and is summarised below.

Step one: Complain to the institution involved before doing anything else. Keep all records of the complaint and ask for the response in writing if you are not satisfied with the oral reply.

Step two: If you are still not happy, you can bring the matter to the Ombudsman for Credit Institutions or to IFSRA.

A decision of the Ombudsman will be binding on the bank or institution in question but may be rejected by the consumer.

The regulatory authority will consider consumers' complaints on the basis that they might involve a breach of a code of conduct.

Step three: As a more extreme measure, you could bring the complaint to the arbitration stage. This approach, which is similar to going to court, is based on establishing the legal responsibilities of both the consumer and the bank. It can be cheaper than going to court.

If a consumer accepts the arbitrator's decision, they automatically waive their right to go to court.

IFSRA advises that court cases involve lengthy proceedings and uncertain outcomes but recognises that the Small Claims Court could offer a cheaper and speedier alternative for some complainants.