If you have a problem with your bank or savings provider, ask them to put things right. If you’re still unhappy, you can complain. Here's how to sort common issues.
For most problems, speak to your bank first
If you have a problem, such as receiving poor customer service or being charged unfairly, give your bank the chance to fix things.
Here’s how:
- ask your bank’s customer services to put things right – if you can’t agree on a resolution, then
- make a formal complaint – they have eight weeks to investigate and give a final response. If you still don’t agree, or the timeframe has passed, you can
- take your complaint to the free Financial Ombudsman ServiceOpens in a new window – you’ll get an independent decision on whether your bank’s response was fair or if they need to do more.
For more information, see our how to complain guide.
Frozen bank accounts
Your bank might freeze your account if they spot unusual activity that could be fraud. Or, if terms and conditions have been broken, such as not using the account for a long time.
You’ll normally be told this has happened, with a direct way to contact your bank – such as replying to a text message or app notification to approve or decline a payment.
If you’re worried these messages could be a scam, contact your bank a different way – you can speak to most banks by dialling 159.
You can then ask your bank’s customer services to get your account up and running again. If you’re still unhappy, you can make a formal complaint.
See step-by-step help in our how to complain guide.
Joint account disputes
Any joint account holder can ask to freeze the account. This means no-one can access it.
The account will only be unlocked when everyone agrees how to split the money. If you can’t, you might have to let the courts decide who gets what.
Find out more in our guide Sort out your finances with an ex-partner.
Lost bank accounts, pensions and Premium Bonds
A lost account is where:
the bank loses contact with you
you no longer use it, usually with no activity for three or more years.
If this happens, the account is marked as inactive or dormant and might be closed. Any money will still be yours, but you’ll usually need to submit a claim to get it back.
Use a free account tracing service
If you know where the account was held, contact the bank or provider directly. If not, there are free services you can use.
These use your details to track down any missing accounts on your behalf. If an account is found, you’ll normally need ID to reclaim the money and any interest due.
Premium Bonds, UK bank and savings accounts
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Apply online or by post. Results can take up to three months. |
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Apply online. Results are usually instant. Gretel is adding more companies so will repeat the search every two weeks. |
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Locates lost Ulster Savings Certificates. |
If you find a missing Premium Bond, use the NS&I prize checkerOpens in a new window to see if you have any unclaimed winnings.
Lost workplace or private pensions
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Gives you the contact details for pension providers. Apply online, by phone or post. |
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Apply online. Results are usually instant and updated every two weeks. |
Investments
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Apply online. Results are usually instant and updated every two weeks. |
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For investment trust funds. Apply online or by post. Results can take up to three months. |
If your bank goes bust
In the unlikely event your bank, building society or credit union were to fail, another bank would likely take over – with your money automatically moved over.
If this doesn’t happen, the Financial Services Compensation Scheme (FSCS) will automatically give your money back within seven days. This covers up to £85,000 you have with each banking group (£170,000 in a joint account).
The FSCS protection checkerOpens in a new window shows if your bank is covered. If it’s not, it’s likely to be a virtual account covered by e-money rules.
This means your money is kept safe at a different bank, but you’d need to make a claim to the administrator if your provider failed.