Complaints systems being developed by Payment Systems Regulator

The PSR Board decided in February to establish a complaints system despite there being "no statutory requirement" for it to do so, according to minutes from the Board's meeting (4-page / 68KB PDF).

"The Board noted that the FCA’s Independent Complaints Commissioner (ICC) had indicated that he would be willing to be engaged by the PSR in order to deal with any complaints against the PSR," the minutes said. "The Board agreed the Executive [Committee] should work with the FCA’s complaints scheme to finalise a complaints process modelled on that of the FCA with a view to appointing the ICC in an appropriate manner. The Board noted the ICC should provide an annual report of any complaints considered and attend the Board to present this."

On a webpage about the complaints scheme, the PSR said that "anyone who is directly affected by the PSR's actions or inactions – or anyone acting on such a person's behalf – will be able to file a complaint against the PSR" providing the complaints are made within a year of the date those complaining "first became aware of the circumstances giving rise to the complaint".

There may be complaints that the PSR "exclude" or do not investigate, it said. It said it plans to issue guidance on how complaints can be made under the new scheme once it is operational. The PSR will also describe the complaints process, provide a complaints form that can be used and contact details for where complaints should be filed.

The PSR, which began its regulation of some payment systems on 1 April this year, said that consumers that encounter problems making payments should approach their bank or financial service provider in the first instance if seeking to raise a complaint and that the Financial Ombudsman Service "may also be able to help".