Financial Ombudsman Service receives over 305,000 complaints in 2024/25
2 July 2025
Financial complaints are at their highest level in six years, according to new annual figures.
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
Consultation on compensation interest levels launched by the Financial Ombudsman Service
4 June 2025
Today we opened a consultation on the interest rate applied to the compensation awarded to consumers.
Financial Ombudsman Service celebrates raising more than £30,000 for baby loss charity
22 May 2025
We have raised more than £30,000 for Sands, the UK’s leading pregnancy and baby loss charity – hitting our two-year fundraising target in just 12 months.