Complaints Policy

Version 01.01.2021

1. Overview

The Company is authorised by the Bank of Lithuania and therefore has the responsibility to have in place clear and effective procedures for the reasonable and prompt handling of complaints. Each of our customers must be at the centre of everything we do and therefore deserve to have a fair and courteous service at all times and the right to raise issues or concerns if they think they have not received a fair, correct or courteous service.

2. Definition of a complaint

For the purpose of compliance with the relevant laws and regulations on complaints procedures a complaint is “any expression of dissatisfaction, whether oral or written, and whether justified or not, from or on behalf of an eligible complainant about the firm’s provision of, or failure to provide, a financial services activity”. A complaint, however, must involve an allegation that the complainant has suffered, financial loss, material inconvenience or material distress

3. Who does this policy apply to?

To be considered an eligible complainant, you must be a MuchBetter user. Regardless of this, if you are not our customer you will not be an eligible complainant, but we will review your complaint in the same way as if you were. However, note that you will not be able to refer your complaint to the relevant authorities if you are not satisfied with the way we have handled your complaint.

4. How to initiate a formal complaint

Although we aim to ensure that our customers are completely satisfied at all times, there are occasions when things can go wrong. In this case, we can assure you that we will do our best to resolve any issue or misunderstanding promptly, fairly and effectively by our Customer Support team.
In the unlikely event that you have followed the steps above and we do not provide you with a satisfactory outcome then you may escalate the issue to a “Formal Complaint” by writing an email (complaints@muchbetter.com) or a letter (Upės g. 23, 08128, Vilnius). Please ensure that you clearly state “Formal Complaint” in the subject of the email or letter reference and provide as much detail as possible of the reason(s) for complaining.

5. How is your complaint treated?

Once the formal complaint process is initiated, we will: – Confirm that our formal complaints process has been initiated and provide you with a reference number for your complaint – Acknowledge your complaint and the details of how we understand the issues you have raised – Enclose a copy of the complaints process that you are aware of the next steps. We will investigate consistently and promptly determining whether the subject matter of the complaint requires remedial action and might need to contact you to request further information or documentation to enable setting out our conclusions in a final response to you within 15 business days from the date when your initial complaint is received. In the unlikely event that our investigations have not concluded before the 15th business day from the date of receipt, we will write to you to explain why we are not able to provide you with a final response and when we might expect to have fully investigated your case.

6. Closing your complaint

Once we have fully investigated and reached a conclusion, we will issue a final response stating that it is our final decision and ask you to reply indicating whether you are happy with the outcome. If you are not satisfied with our final response, or should we fail to respond to you within 15 Business Days from receiving the claim, you shall have a right to apply to the Bank of Lithuania in three different ways:

1. Through the electronic dispute settlement facility E-Government Gateway

2. By completing a consumer application form and sending it to the Supervision Service of the Bank of Lithuania at Žalgirio g. 90, LT-09303 Vilnius, email: frpt@lb.lt or

3. By filing out a free-form application and sending it to the Supervision Service of the Bank of Lithuania, Žalgirio g. 90, LT-09303 Vilnius, email: frpt@lb.lt.

Whatever the way you choose to submit the claim, it must be in the official language of the country, i.e. Lithuanian. You may apply to the Bank of Lithuania within 1 year after you received from us a response that is not satisfactory, or after the 15 Business Days for responding has passed and we did not respond. Addressing us first is a precondition for you applying to the Bank of Lithuania. The decision of the Bank of Lithuania is not mandatory for us or you and you, even after the dispute was solved by the Bank of Lithuania, shall have a right to apply to the court.

In case you are generally not contended with us or MuchBetter Service, where there is no claim or disagreement between you and us, you may always approach the Bank of Lithuania by addressing a complaint to the Bank of Lithuania at Totorių g. 4, LT-01121 Vilnius, email: info@lb.lt, or to the Supervision Service of the Bank of Lithuania, Žalgirio g. 90, LT-09303 Vilnius, email: frpt@lb.lt. Complaints must be submitted in Lithuanian or English languages

7. Questions

There is plenty of information ready to answer your questions on our website but in the event you cannot find the answer you are looking for, please check our website MuchBetter or get in touch with our Support Team.

Version 01.01.2021

1. Overview

The Company is authorised by the FCA in the United Kingdom and therefore has the responsibility to have in place clear and effective procedures for the reasonable and prompt handling of complaints. Each of our customers must be at the centre of everything we do and therefore deserve to have a fair and courteous service at all times and the right to raise issues or concerns if they think they have not received a fair, correct or courteous service.

2. Definition of a complaint

For the purpose of compliance with the FCA requirements on complaints procedures a complaint is “any expression of dissatisfaction, whether oral or written, and whether justified or not, from or on behalf of an eligible complainant about the firm’s provision of, or failure to provide, a financial services activity”. A complaint, however, must involve an allegation that the complainant has suffered, financial loss, material inconvenience or material distress.

3. Who does this policy apply to?

To be considered an eligible complainant, you must be a MuchBetter user. Regardless of this, if you are not our customer you will not be an eligible complainant, but we will review your complaint in the same way as if you were. However, note that you will not be able to refer your complaint to the Financial Ombudsman Service if you are not satisfied with the way we have handled your complaint.

4. How to initiate a formal complaint?

Although we aim to ensure that our customers are completely satisfied at all times, there are occasions when things can go wrong. In this case, we can assure you that we will do our best to resolve any issue or misunderstanding promptly, fairly, and effectively by our Customer Support team. In the unlikely event that you have followed the steps above and we do not provide you with a satisfactory outcome then you may escalate the issue to a “Formal Complaint” by writing an email (complaints@muchbetter.com) or a letter (20-22 Wenlock Road N1 7GU, London). Please ensure that you clearly estate “Formal Complaint” in the subject of the email or letter reference and provide as much detail as possible of the reason(s) for complaining.

5. How is your complaint treated?

Once the formal complaint process is initiated, we will: – Confirm that our formal complaints process has been initiated and provide you with a reference number for your complaint – Acknowledge your complaint and the details of how we understand the issues you have raised – Enclose a copy of the complaints process that you are aware of the next steps. We will investigate consistently and promptly determining whether the subject matter of the complaint requires remedial action and might need to contact you to request further information or documentation to enable setting out our conclusions in a final response to you within 15 business days from the date when your initial complaint is received. In the unlikely event that our investigations haven’t concluded before the 15th business day from the date of receipt, we will write to you to explain why we are not able to provide you with a final response and when we might expect to have fully investigated your case.

6. Closing your complaint

Once we have fully investigated and reached a conclusion, we will issue a final response stating that it is our final decision and ask you to reply indicating whether you are happy with the outcome. However, if you remain unhappy with the outcome then you may request a review of your complaint from the UK Financial Ombudsman Service (FOS) enclosing their contact details. You may contact the Financial Ombudsman Service by:

Post – addressing your complaint to Financial Ombudsman Services Exchange Tower, Harbour Exchange London E14 9SR

Telephone – on 08000234567 or +442079640500 from outside the UK Or online by visiting the FOS website

7. Questions

There is plenty of information ready to answer your questions on our website but in the event you cannot find the answer you are looking for, please check our website MuchBetter or get in touch with our Support Team.

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