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ARTICLE · 29 AUGUST 2024

Challenging A De-Banking: Next Steps After A Bank Refuses Your Complaint

Gherson
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The article discusses the growing issue of "de-banking" and offers guidance for affected individuals. It suggests filing complaints with banks and the Financial Ombudsman Service (FOS) within strict timeframes, highlighting increased complaints and challenges related to compliance databases and CIFAS markers.

United KingdomFinance and Banking
Gherson  
Gherson  

The tide is gradually turning.

Following several high-profile ‘de-banking' cases, we recently published blogs titled “What are the proposed new laws aimed at preventing de-banking?” and “Why the proposed new laws to try and prevent de-banking do not go far enough” 

Unfortunately, we are still being approach by individuals who feel that they have been unfairly de-banked. This is an incredibly frustrating situation to be in.

We have previously outlined steps that individuals who feel that they have been de-banked can take. This includes making a formal complaint to the relevant bank, accompanied by a Data Subject Access Request (“DSAR”).

However, if the bank's final decision is to reject this formal complaint, what other steps can you take?

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