We are very proud at the CP Financial claims to work closely with the FSCS who provide an excellent service for our clients. Detailed below are their published standards
FSCS must be able to protect consumers in a crisis or in the event of major failures to maintain public confidence and financial stability.
FSCS is known and trusted for protection that puts people back on track through outstanding customer experience.
FSCS collaborates with regulatory and industry stakeholders to prevent future failure and to reduce compensation costs.
The full range of FSCS protection is known about and trusted.
FSCS aim to build and maintain the trust of everyone we work with through rigorously independent decisions, efficient operations, resilience in tackling financial failures and always putting our customers first.
FSCS don't just protect consumers with claims against failed firms, we promote awareness and understanding of FSCS protection, learn lessons and work with our stakeholders to help prevent future costs and failures.
FSCS Mission Statement
FSCS mission is to provide a trusted compensation service for customers when financial firms fail. This helps to raise public confidence in the financial services industry.
Thresholds
Up to £85,000 per eligible person, per bank, building society, credit union, or regulated firm. Up to £170,000 for join accounts.
How Long Will A Claim Take?
FSCS will investigate your claim as quickly as possible. As each claim is unique they can’t predict exactly how long it will be before they can give you a decision.
The information below shows how long it is currently taking FSCS to complete most claims (8 out of every 10) that they receive for different products.
This gives you an idea of the amount of time it is likely to take from making an FSCS application to receiving a decision letter.
This data includes all claims that have been completed within the past 9 months and was last updated on 5 March 2024.
Claim type (Most customers get their decision within):
Pensions: from 6 months - 12 months, however complex Defined Benefit transfer can take up to 24 months.
Investments: from 3 months - 12 months, subject to the status of the firm
(The above timescales illustrations do not include the time it takes to obtain evidence and prepare your claim)
