Complaints Policy

Presto Finance Ltd

Complaints Policy

Introduction

Presto Finance Ltd is committed to providing the highest level of customer service, going above and beyond to ensure that our customers are always 100% satisfied. However, despite our best efforts, we understand that things don't always go as planned. When things do go wrong, we want to hear about the experience so we can put it right and learn from it.

Our complaints process has been designed to ensure that all issues are dealt with as quickly as possible and that all complaints are handled on an individual and equitable basis.

We are fully committed to following all guidance provided by the Financial Conduct Authority and will ensure that the following undertakings are strictly adhered to:

  • You will never incur any costs or charges from raising a complaint/concern with Presto Finance Ltd either through premium phone lines or administration.
  • At your discretion you can raise a complaint via any of the normal channels namely phone, digitally (E-mail) or in person.

What is the nature of the complaint?

As Presto Finance Ltd. acts as an intermediary between our dealer partner, the lender and the customer we must identify the nature of the complaint to ensure the correct response is delivered to the customer. We do this through what amounts to a triage system as follows:

  • For vehicle quality issues the complaint will initially be directed to the dealer.
  • For payment, settlement or finance related issues the complaint will be directed to the lender.
  • For queries relating to the placement, deal structure or anything else the issue will be dealt with by Presto Complaints (this will inevitably be Gordon Veale).

Whilst these are broad categories Presto Finance Ltd will help in any way to resolve a customer's issue by acting as honest broker of facilitating an agreement between the parties above and the customer.

Examples:

If a customer has an issue with the paintwork of any mechanical defect the issue will be referred to the dealer under advice to the customer.

If the repayment comes out on the incorrect date of for the incorrect amount the issue will be referred to the lender.

If the customer queries the interest payable or it is not as agreed Presto Finance Ltd along with the dealer will investigate.

If the customer has been sold a product of the deal is structured differently to that which the customer agreed Presto Finance Ltd with deal with the issue.

If the customer wishes to cancel the deal Presto Finance Ltd. will act as intermediary through all parties to reach a resolution

How can I make a complaint?

Presto Finance Ltd. are dedicated to putting things right when we are at fault. There are several ways to make a complaint. The customer can either come in store (during standard opening hours as published on the website) and speak to one of our management team, give us a call on 01934273895, send an email to [email protected], or complete our online contact form.

  • We will always endeavour to learn from any mistakes we have made and instigate robust plans to ensure they do not recur. We will take a practical view of the causes of any such issues analysing ways it could have been avoided and how we can do better next time.
  • If the customer chooses to enlist the services of a third party for example a solicitor or financial advisor this will not affect the way the complaint is dealt with. However, should we uphold the complaint we will not be liable for any fees incurred by such third party and any redress payment will be sent directly to the customer.
  • If, because of our actions or omissions the customer suffers detriment either financial or otherwise, we will look to remediate the position once cause has been identified and confirmed.
  • The complaint will be handled by a senior member of the management team and that person will be identified to you at the outset and remain as your point of direct contact until resolution.
  • We promise to investigate all complaints competently, diligently and fairly ensuring a timely outcome. Presto Finance Ltd will always endeavour to take whatever reasonable steps possible whether by redress, cancellation or goodwill to bring the customer to the right place.
  • We will acknowledge any complaint within 24 hours of receipt and attempt to provide a resolution within 5 working days subject to what investigation and information is required to do so. Where greater investigation is required, we will agree a mutually acceptable timeline to bring a resolution however would limit this in most circumstances to a maximum of eight weeks. At such time we will deliver a decision to the customer and if the complaint is upheld offer redress in line with the extent of the complaint the ensuring, based on the evidence, the decision is equitable.
  • Once we have concluded our investigation and should a resolution be achieved, we will confirm the basis of such resolution to the customer over which ever channel they have engaged with. We all so welcome the involvement of any Alternate resolution Service However, should be we fail to reach a resolution or do not respond with a final outcome within eight weeks the customer may refer the matter to the Financial Ombudsman Service within six months of the initial complaint having been received. We will provide the customer with the details of the Financial Ombudsman Office should they wish to pursue the matter further as detailed below.

Name and address:
Financial Ombudsman Service,
Exchange Tower,
London,
E149SR - 03001239123

( http://www.financial-ombudsman.org.uk) )

Will I hear back regarding my complaint?

We respond to each and every complaint, unless you specify otherwise. Sometimes our customers just want to let us know about their experience and simply want to pass on their feedback so we can take it on board. That's totally fine, if you'd rather we didn't respond to your complaint, just let us know.

As we proceed to resolution you will be kept informed at every stage by the dedicated manager dealing with the issue. In normal circumstances that would be at least every three days.

Whilst not part of our policy, we undertake to keep a record of all complaints relating to our regulated activities detailing the date received, the nature of the complaint and the outcome for an initial period of three years. Furthermore, this information will be relayed to the FCA in line with our reporting procedures within six months of our year end as prescribed.

The internal mapping will be as follows:

Complaint received

Complaint logged and allocated to a senior manager.

Acknowledgement sent within 24 hours

Triage as to who best to deal with the issue

Investigation and deliberation normally within 5 working days.

If further investigation is required timeline agreed with the customer.

Decision relayed to customer by whatever channel they chose as to whether the complaint is upheld.

Agreed redress sent to customer within 24 hours of decision advice.

If resolution can not be reached a final outcome advice will be relayed to the customer within 8 weeks, If the customer is still not satisfied or such outcome is not forthcoming the customer may refer the matter to FOS within 6 months of the date of receipt of the initial complaint.

Management Information

Senior Managers will personally deal with every complaint and log it on a Complaints log this will include the following information:

Date of receipt

Date of acknowledgement

Triage as to most suitable area of responsibility

Person allocated as responsible for resolution

Decision

Date customer advised

Customer acceptance/rejection

Referral date to FOS

This information will be analysed and used to identify trends and areas that improvements can be made to enhance our service to the customer. Any areas highlighted will therefore become part of the dealer partner review and equally staff appraisal programme to prevent recurrence.

Understanding this policy and adherence to it is compulsory for all staff at Presto Finance Ltd.