Fasterpay welcomes and supports the FCA’s drive to require firms to deliver good outcomes for retail customers, supported by the three cross-cutting rules to:
- Act in good faith towards retail customers
- Avoid foreseeable harm, and
- Enable and support retail customers to pursue their financial objectives.
The Consumer Duty
The Consumer Duty rules relate to four different outcomes which represent the key elements of the relationship between companies and their customers:
- Products and services
- Price and value
- Consumer understanding
- Consumer support
Fasterpay is committed to providing a seamless and secure payment experience that prioritises your interests and safeguards your rights as consumers. As part of this commitment, we have formulated this Consumer Duty Statement to outline our responsibilities and the assurances under the FCA guidelines. Our commitment to Consumer Duty is part of our company principles and focuses on customer satisfaction.
Customer-Centric Culture
The dedication to our clients is vital to our business. Our culture, purpose, and values are all committed to generating excellent outcomes for our customers. We seek to integrate a customer-first mentality into all aspects of our business.
Transparent and Fair Pricing
Our pricing structures are intended to maintain fair value to our consumers, with complete transparency of all costs involved. We aim to provide clear information about our fees, charges, and any other relevant costs associated with our services and regularly evaluate our products and services to ensure that they meet the needs of our target market.
Governance and Continuous Improvement
To guarantee that every employee is aware of their obligations under the Consumer Duty, we make continuous investments in employee training and growth. We have also put in place monitoring procedures, such as frequent reviews and audits, to guarantee compliance and ongoing improvement.
Moreover, your feedback is crucial to us, and we welcome your suggestions for enhancing our products and services.
Customer Support and Complaints handling
Our dedicated customer support team is available 24/7 in over 30 languages to assist with queries, concerns, and issues, regardless of location. We ensure a clear and transparent complaint handling process, investigating concerns thoroughly and aiming for a fair resolution within the shortest time frame. We prioritize customer needs and behaviour throughout the service cycle.
For more information on our Consumer Duty commitments or to provide feedback, please contact us.
Your satisfaction is our priority.