Tag Archives | IFSRA

We’re in the safe hands of our regulators

I wonder if Bertie had it in mind that the assessment of our Financial Regulator he’s planning (referred to here on Public Inquiry) would cover the hygiene habits of staff within the Central Bank?

Cracking article here (sub required) by Quentin Fottrell in todays Opinion section of the Irish Times. The relevant quote for our purposes here is as follows:

In the restroom on the ground floor of an office block in Dublin there is a notice telling us, “Please use the brush provided if you’ve soiled the bowl”. It’s no small irony that this sign urging us to take responsibility for our own actions is in the Central Bank.


Effective complaints my arse! How about effective complaints handling?

IFSRA today published via their website an article on “Making an effective complaint – What you need to know”. But then, at the end of the article they say, bewilderingly given the tone of the heading and article, “However, we do not investigate individual complaints”.

How about that for mixed messages? This statement is on the consumer website of the Financial Regulator – so, we have a regulator telling us how to complain, but then telling us not to complain to them.

Maybe they should be adding this to their own Waffle Corner.

But back to my original point, if you read their directions on complaining, you see that financial institutions have 20 business days (1 month effectively) to just respond to a complaint from a customer. And they have a a total of 40 business days (effectively 2 months) in which to address your complaint, or to tell you how much longer it’s going to take. So, you make a complaint now, you could conceivably be waiting 2 months before the financial institution gets back to you to say it’s going to take another 2 months to address your complaint. Ridiculous!

Now, think of your own day to day job. If someone comes to you as part of your job with a query or an issue, do you reckon you could get away with taking 3 months to even tell that person that you’ll need 3 more months to respond to them?

Tell me again what regulators actually do to help consumers?


SayNoTo1890.com, unless you are a “body corporate”

A couple of weeks ago we launched our new website, www.saynoto1890.com. This website will provide Irish consumers with the alternative telephone numbers to call instead of using the LoCall and CallSave numbers. By using these alternative numbers, consumer can avail of their inclusive minutes as part of their telephone package bundles, thereby cutting their phone bills and saving money.Something weird has struck me in the research that I’ve been doing for this website – it appears that these organisations below may be favouring the busineses that they are actually supposed to be protecting us consumers from – at least when it comes to calling them.

National Consumer Agency – Consumer HelpLine – Lo-call 1890 432 432 – contact us page is here.
National Consumer Agency – Corporate HelpLine – Call 01 402 5500 – contact us page is here

Financial Regulator – Consumer HelpLine – Lo call 1890 77 77 77 – contact us page is here
Financial Regulator – Industry HelpLine – Call 1 4104000 – contact us page is here

Why do two of our regulators distinguish in this way between customer helplines and and those aimed at helping businesses? Based on our www.saynoto1890.com website, in many cases these so-called LoCall and CallSave numbers are actually costing consumers more money than the ordinary 01 numbers would do.


Click here for the SayNoTo1890.com Website.

Click here for the SayNoTo1890.com Website.


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