12MONEY


THE GUESTLIST NETWORK | SEPTEMBER 2010 FrEE MONEy


In recent years, surfing the net and using debit cards have become such a part of our lives it’s hard to imagine how we managed without them. Most of the time, using the near- est cash machine, banking online or shopping on the web will be trouble-free. But what happens if something goes wrong? If you find that you have a financial complaint that you can’t sort out with your bank or building society, the Finan- cial Ombudsman Service may be able to help. The ombudsman service is the free service set up by law to settle complaints between consumers and financial businesses. Each year the ombudsman is asked to sort out a range of complaints about cash machine problems, online transac- tions and cases where people have been a victim of fraud.


Cash machine complaints Cash machines have become a significant feature of our everyday lives since the first cash machine was installed in Enfiled High Street over 40 years ago - and are now used millions of times a day in the UK. The number of cash-machine disputes referred to the ombudsman


is in comparison very small. Last year, the service received around 3,000 complaints involving cash machines.


Keeping it confidential Most of us realise the dangers of responding to ‘spam’ emails asking for personal information. But it can sometimes be all too easy to be tricked in to revealing confidential information, including bank and credit card details and passwords when you think a request is genuine. A common “phishing” scam that you might find in your inbox is a fraudu- lent request for information from “your bank”. These emails will gen- erally ask you to provide personal information such as your account number, online banking password or answers to security questions and are becoming increasing sophisti- cated. However, bear in mind that your bank will not generally ask you to confirm any personal information by email. If you receive a suspi- cious email, you can forward it to reports@banksafeonline.org.uk.


Online errors Many people shop online regularly without a problem. However, each


Could you get by without using the internet to shop online or keep an eye on your bank account? How about queuing up at your bank each lunchtime instead of using the cash machine?


year the ombudsman is asked to settle a range of complaints involving online transactions. In a recent case, Steph Carroll ordered some business cards from an online retailer for her new graphic design business. She paid £9.99 for the cards online, only to discover over a year later that the same amount had been debited each month ever since. She complained to her bank, who rejected her complaint, saying that she must have agreed to a ‘continuous-payment authority’, Steph complained to the ombuds- man who agreed that in her particu- lar circumstances, she had used her debit card for the first payment only. Though the bank argued that it had no option but to make the payments, the ombudsman felt that Steph was not liable & told the bank to refund the money,


If you do have a banking problem your bank will usually be able to sort things out quickly and easily. But if you’ve complained to your bank and are still unhappy, the ombudsman service may be able to help. Here are some tips on how to safeguard your finances from fraudsters.


1 Stay alert when using a cash machine. Don’t get distracted or let anyone interrupt you while you withdraw your money.


2 Never provide your banking, credit card or personal details unless you’re certain that the request is genuine.


3 Don’t give anyone your security information, such as your internet or telephone banking password, PIN number or log-on details for online services.


4 Try to memorise your PIN or passwords where possible. If you do need to write them down, make sure they are appropriately disguised and are not kept with your bank cards.


5 Shred bank statements and other documents containing your personal details rather than put- ting them straight in the bin.


6 Be careful making card pay- ments. Make sure you are using a secure method tayment.


To find out more, visit www.financial-ombudsman.org.uk or phone 0300 123 9 123


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