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The Financial Ombudsman Service (FOS) has announced their fees for handling case from April 2017.
Case fees will be frozen at £550 and the supplementary fee for PPI will remain at zero having been reduced this year.
Firms will be given 25 ‘free’ cases before being required to pay the case fee. This has remained the same as currently.
Firms with the highest number of complaints, such as banks, will be able to continue with group-account arrangements for fees.
The FOS levy charged to FCA authorized firms will also be frozen at £24.5m. This is paid by authorized firms as part of their FCA annual charges.
For more details please contact us or visit the FOS website.