The Financial Conduct Authority (FCA) has confirmed the increase to our award limits.
Our award limit is the maximum amount we can require a financial services firm to pay when we uphold complaints. This limit is adjusted each year in line with inflation, as measured by the Consumer Prices Index (CPI).
From 1 April 2022, our award limits will change to:
Different limits apply depending on when the complaint was brought to us. You can read about current and previous limits on our Understanding compensation page.
We will be updating the guidance on our website to reflect these changes from 1 April 2022.
The FCA’s policy statement PS19/8 sets out the full background to increasing our award limits. The change can be seen in the FCA’s handbook.
1 April 2025
From 1 April 2025, professional representatives will be charged £250 to refer a case to our service due to our new charging regime.
24 March 2025
A lack of awareness from firms about Scotland’s Debt Arrangement Scheme (DAS) could be negatively impacting consumers in Scotland, the Financial Ombudsman Service has warned this Debt Awareness Week.
4 March 2025
The Financial Ombudsman Service is continuing to receive high levels of complaints from consumers and small businesses, according to new figures published today.
