Letter Writing: Bank Complaint Letter
If you have a problem with a service or product provided by a bank, writing a complaint letter is an effective way to get the issue resolved. Use these sample letters to complain about unsatisfactory service or unfair charges.
You can also write to your bank to complain about discrimination on the grounds of race, religion, sex or disability.
Table of Contents
1. Explain the Problem
When you write a complaint letter, explain the problem precisely and suggest how it could be resolved. Be polite, but firm, and include any evidence that you have to support your claim, such as copies of receipts or checks. Make sure the letter is legible and dated.
Before writing a letter of complaint, try to resolve the issue with your bank or other financial institution directly. Contact a customer service representative or branch manager by phone or in person. Keep a written record of your conversation, including dates and employee reference numbers, as you may want to refer back to it later.
You should also ask the financial institution to follow its complaints process, which is typically laid out in a booklet or on its website. Most banks and provincially regulated credit unions are required to have a formal complaints procedure in place.
If you are unable to resolve the issue with your bank, consider filing a complaint with your state’s consumer protection agency or the federal Consumer Financial Protection Bureau (CFPB). If you are complaining about investments, file your grievance with your state’s securities regulator or the Securities and Exchange Commission.
If all else fails, you can always sue your bank or move your money to another financial institution that will treat you better. But that route is usually limited by the fine print in your contracts with your financial institution.
2. State Your Case
When writing a complaint letter, you need to explain the problem and what you want them to do about it. This should be in a polite but firm manner. You should also state that you will be contacting the Financial Ombudsman Service if you do not get the resolution you are looking for from them.
You should also include a timeline in which you expect them to respond by. If you don’t have a timeline in mind, you can simply say that you will not wait very long before taking action.
Effective complaint letters are not sarcastic or threatening, as the person reading them may not have any personal involvement in your problem and they could actually be very helpful in getting it resolved. It’s always worth having someone else read your letter to see if it makes sense and is clearly written.
If you have a positive experience with the bank, you might want to mention this as well, if it is pertinent to your complaint. This can help them remember you and can provide a good incentive for them to find a solution for you. You should also compliment any staff who have given you good service or the products they offer, if it is appropriate to do so. If the organisation is a large one, it will often need to consider how much it’s willing to invest in resolving your complaint and what return that might provide to them.
3. Ask for Action
Once the bank has received your complaint letter, it will have 30 days to respond to you. If the entity does not resolve the issue within that time frame, you can ask for additional assistance from your state’s consumer protection office or private legal counsel.
In your letter, state how long you are willing to wait for a response and what action you want the company to take. Be reasonable in your requests, but don’t be sarcastic or threatening. The person who reads the letter probably isn’t responsible for your problem, but he or she may be helpful in resolving it. Also, be sure to keep copies of all correspondence.
It’s important to file a complaint to get the bank’s attention and make it clear what kind of treatment you have received. However, it’s best to start with the company and try to come up with a solution on your own before asking the CFPB to step in, Baer says. It’s also a good idea to tell the company that you will complain on social media or other digital channels if you aren’t satisfied with its response.
If you aren’t happy with the response to your complaint from your bank, you can appeal it by contacting the banking ombudsman. This is an independent service that can help resolve disputes between consumers and banks. There are 20 banking ombudsman centres in India. You can find contact details for them in the telephone book or online.
4. Give the Response
As a bank customer, you have the right to inform the relevant authority when you identify a problem with your account. Writing a letter is a good way to bring your concern to the notice of the bank’s management so that it can take necessary steps to resolve the issue as soon as possible. In your letter, you must indicate the problem precisely and make a suggestion to resolve it. Also, be sure to include any evidence if applicable. It is a good idea to send the letter by recorded delivery so that you have a record of its receipt.
If you are unhappy with the response to your complaint, you can ask for further information from the Financial Ombudsman Service. You should do this within six months of getting your bank or building society’s final response to your complaint or from the end of the eight week period if they haven’t responded yet.
It is important to be calm and polite in your letter, but it’s also worth pointing out that you have legal rights to the service you have received and you are not happy with it. You should also state that if you don’t get the resolution you want, you will be taking the matter further. The more you can show that you are a knowledgeable customer who knows their rights, the more likely they will be to treat your complaint seriously.
Example 1: Bank Complaint Letter
[Your Name]
[Your Address]
[City, State ZIP Code]
[Date]
[Bank Name]
[Address]
[City, State ZIP Code]
Dear Sir/Madam,
I am writing to file a complaint regarding the service I received from your bank. On [Date of Incident], I encountered an issue with my [Account Type] account, and I was extremely dissatisfied with the way the situation was handled.
[Describe the incident and the issue you encountered in detail, including any relevant dates, times, and names of bank representatives you spoke with.]
I believe that the service I received was unprofessional, and that the bank failed to provide me with the assistance I needed. I am extremely disappointed with the level of service that I have received from your bank, and I believe that this is a clear breach of the agreement between us.
I request that you [Provide a solution that you would like the bank to offer, such as an apology, compensation or a resolution to the issue you encountered]. I also request that you investigate the matter and take appropriate actions to prevent similar incidents from occurring in the future.
Please let me know if you require any further information or documentation from me. I hope that we can resolve this matter quickly and amicably.
Sincerely,
[Your Name]
Example 2: Bank Complaint Letter
[Your Name]
[Your Address]
[City, State ZIP Code]
[Date]
[Bank Name]
[Address]
[City, State ZIP Code]
Dear Sir/Madam,
I am writing to express my dissatisfaction with the service I received from your bank. On [Date of Incident], I encountered an issue with my [Account Type] account, and I was extremely dissatisfied with the way the situation was handled.
[Describe the incident and the issue you encountered in detail, including any relevant dates, times, and names of bank representatives you spoke with.]
I believe that the service I received was unprofessional, and that the bank failed to provide me with the assistance I needed. I am disappointed with the level of service that I have received from your bank, and I believe that this is a clear breach of the agreement between us.
I request that you [Provide a solution that you would like the bank to offer, such as an apology, compensation or a resolution to the issue you encountered]. I also request that you investigate the matter and take appropriate actions to prevent similar incidents from occurring in the future.
I have been a loyal customer of your bank for [Number of Years], and I believe that my concerns should be taken seriously. Please let me know if you require any further information or documentation from me.
Thank you for your attention to this matter.
Sincerely,
[Your Name]
Example 3: Bank Complaint Letter
[Your Name]
[Your Address]
[City, State ZIP Code]
[Date]
[Bank Name]
[Address]
[City, State ZIP Code]
Dear Sir/Madam,
I am writing to file a complaint regarding the service I received from your bank. On [Date of Incident], I encountered an issue with my [Account Type] account, and I was extremely dissatisfied with the way the situation was handled.
[Describe the incident and the issue you encountered in detail, including any relevant dates, times, and names of bank representatives you spoke with.]
I believe that the service I received was unacceptable, and that the bank failed to provide me with the assistance I needed. I am frustrated with the level of service that I have received from your bank, and I believe that this is a clear breach of the agreement between us.
I request that you [Provide a solution that you would like the bank to offer, such as an apology, compensation or a resolution to the issue you encountered]. I also request that you investigate the matter and take appropriate actions to prevent similar incidents from occurring in the future.
I have been a customer of your bank for several years, and I have always valued the services that you provide. However, this experience has left me with a negative impression of your bank, and I hope that we can resolve this matter quickly and amicably.
Please let me know if you require any further information or documentation from me. Thank you for your attention to this matter.
Sincerely,
[Your Name]
