Financial Ombudsman Service shares a festive finance warning
18 December 2025
With the festive season approaching, we are encouraging consumers to take a few practical steps to protect their finances.
The Financial Conduct Authority (FCA) has confirmed the annual increase to our award limits.
Our award limit is the maximum amount we can require a financial service 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 2020, our award limits will change to:
-
£375,000 for complaints referred to us on or after 1 April 2022 about acts or omissions by firms on or after 1 April 2019.
-
£355,000 for complaints referred to us between 1 April 2020 and 31 March 2022 about acts or omissions by firms on or after 1 April 2019.
-
£350,000 for complaints referred to us between 1 April 2019 and 31 March 2020 about acts or omissions by firms on or after 1 April 2019.
-
£160,000 for complaints referred to us after 1 April 2019 about acts or omissions by firms before 1 April 2019.
-
£150,000 for any complaints referred to us before 1 April 2019.
The FCA’s policy statement PS19/8 on increasing our award limit sets out the full background. The change can be seen in the FCA's handbook.
For further enquiries:
- Consumers can contact us online
- Regulated financial services businesses can contact our Business Support Hub
- For media enquiries, call 0207 964 1234
Latest news
Joint statement by the FCA and Financial Ombudsman on targeted support
11 December 2025
Today we have published our joint statement with the Financial Conduct Authority (FCA) following their new guidance on targeted support.
Financial Ombudsman Service driving reform and delivering improvements as it sets out its plans for next year
27 November 2025
The continuous delivery of changes and improvements to our service will be a key focus for 2026/27 as we launched a consultation on our Plans and Budget.