Keep Me Posted has welcomed the Financial Conduct Authority's new report on Consumer Vulnerability which outlines several of our own concerns, including the lower level of internet useage among older people and those with a disability, people with power of attorney being shut out of their charge's online accounts and some consumers' difficulty remembering a myriad of passwords.
OFFLINE CUSTOMERS MUST NOT BE PENALISED: KEEP ME POSTED WELCOMES FCA CONSUMER VULNERABILITY REPORT
- Keep Me Posted welcomes new guidance by the FCA that financial service providers should provide a range of communication options to help vulnerable customers, such as face-to-face communication, post, phone and email
- Financial service providers should offer inclusive communication methods which are clear, easy to understand and meet consumer need
- Campaign welcomes this guidance which is a step in the right direction to protect consumers’ right to choose how they are communicated to by companies
Judith Donovan CBE, Chair, of the Keep Me Posted Campaign, said: “The Keep Me Posted campaign welcomes today’s report from the FCA which urges financial services providers to ensure their method of communication with customers is inclusive. This is a step in the right direction, that follows representations we have made. The Keep Me Posted campaign calls on service providers to give their customers the choice of receiving their bills and statements on paper at no extra charge”
“Throughout all of our research, one key word consistently comes through from the consumer: choice. A significant number of people, and in particular vulnerable groups, have difficulty accessing the internet, meaning they are automatically at a disadvantage. For instance, bank customers don’t want to be forced to receive their statements online only to find that they have difficulty proving their address or identity when they do. They want to rest safe in the knowledge that their right to choice is protected by regulation.”
You can read the full report here: