How to get help.

What areas does the Financial Services Ombudsman cover?

The Financial Services Ombudsman can investigate complaints against banks, building societies, insurance companies, intermediaries, pawnbrokers, moneylenders, bureaux de change, hire purchase providers and health insurers.

Since last year credit unions and stockbrokers also fall under his remit, but spread-betting firms aren't covered by the scheme. The maximum compensation the ombudsman can award is €250,000.

If you have suffered a financial loss as a result of a pension scheme, or you have a dispute "of fact or law" about a pension, the complaint should be made to the pensions ombudsman, Paul Kenny.

Who can complain?

Consumers (or companies with an annual turnover of €3 million or less) can make a complaint if they have exhausted the internal complaints procedure at their financial service provider and are still not satisfied.

There is a six-year limit on complaints: if the matter occurred more than six years before the complaint is made, the ombudsman cannot investigate it. He cannot investigate complaints if the matter is or has been subject to legal proceedings or if the complaint is "vexatious or frivolous or not in good faith".

How do you go about it?

Complaints should be made in writing and should be kept as brief as possible. They can be submitted using the online complaints form, available at www.financialombudsman.ie. Complaint forms will also be sent out to consumers who contact the ombudsman's bureau on lo-call 1890 88 20 90 or 01 662 0899.

The form should be returned to the ombudsman's office within 28 days and should be accompanied by any letters or documents that the complainant has sent or received from the financial services provider.

What happens then?

Staff from the ombudsman's bureau may be in touch to request further information in order to assess whether the complaint falls within the ombudsman's remit.

If it does, the complainant will be advised to write to a member of the senior management of the financial services provider requesting a "final response", in the hope that the pressure of the ombudsman's involvement might yield better results. Some 1,551 complaints were resolved this way in 2006.

If the company doesn't budge, or if the complainant still isn't happy, he or she should submit the final response letter and the reply to the ombudsman, who will decide whether to make a formal investigation.

And if the ombudsman decides against an investigation?

Consumers can appeal if the ombudsman decides a formal investigation is not warranted. If he decides to press ahead with a formal investigation, both parties will be notified. Further information and supporting documentation, including the transcripts of phone recordings, may be requested.

How long does it all take?

The ombudsman aims to complete investigations within 60 working days. In practice, it can take between a week for simple disputes and six months for complicated cases.

Legal challenges by the financial services provider may also delay payment of refunds or compensation.

The ombudsman's bureau may also attempt to negotiate a settlement. If no settlement is reached, the deputy ombudsman issues a finding.

Each party has 25 working days to request a review of the deputy ombudsman's finding by the ombudsman if they are dissatisfied with the outcome.

After 25 days, if no review has been requested, the finding becomes a final decision and is binding on both the consumer and the financial services provider, subject to appeal by either party to the High Court.