VULNERABLE CLIENT POLICY
No one from Centspay or any financial partner will ever contact you and request you to send money or ask you to buy any products prior to receiving your service.
Stop sending money!
If you think you’re a victim of fraud, you should stop sending money and notify your bank straight away.
Report it immediately
If you think you’ve been a victim of fraud, please report it immediately to the helpful links below
Money Advice Service on scams
Citizens Advice - Scams
The firm is not responsible for external links.
Contact the financial conduct authority for more information:
Telephone: 0800 111 6768 Email: email@example.com
Financial Conduct Authority
12 Endeavour Square
London E20 1JN
Treating Customers Fairly Link
Centspay operates a “fair treatment of customers” policy in order to understand the needs and interests of our clients. Fair treatment of customers is core to our culture and how we behave and conduct our business.
Fair treatment of customers takes into account, not only how we use our clients details, but how we deal with them at all stages of our business relationship. This includes:
• Clients can be confident that they are dealing with a firm where the fair treatment of customers is central to the business culture
• The client will receive the best service possible and their details will be referred to a reputable firm who will provide them with a suitable product or service to meet their needs and requirements.
• Clients are provided with clear and non- misleading information and are kept informed of progress as appropriate.
• Clients receive a service which is of an acceptable standard and to a level they would expect
• Clients do not face unreasonable barriers in their dealings with us and are provided with clear communication routes and ability to make a complaint.
• All customers should be dealt with in a fair manner throughout their dealings with us.
Vulnerable Consumer Policy
• "Someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care"
Protecting vulnerable consumers is a key priority for us. We want vulnerable consumers to experience outcomes that are as good as those for other consumers. The fair treatment of vulnerable consumers is embedded into our culture, policies and processes throughout the whole consumer journey. With vulnerable consumers, there are factors that may limit their ability or willingness to make reasonable decisions and choices. These consumers may be at a higher risk of harm. So, the level of care that is appropriate for these consumers will be different from that for others. We have identified 4 key drivers which may increase the risk of consumer vulnerability:
• Health: health conditions or illnesses that affect the ability to carry out day-to-day tasks
• Life events: major life events such as bereavement, job loss or relationship breakdown
• We recommend that consumers be scam aware and visit the Friends Against Scams website at www.friendsagainstscams.org.uk where they will find a wealth of information. Friends Against Scams is a National Trading Standards initiative, which aims to protect and prevent people from becoming victims of scams.
• Resilience: low ability to withstand emotional or financial shocks
• Capability: low knowledge of financial matters or low confidence in managing money (financial capability). Low capability in other relevant areas such as literacy or digital skills characteristics of the 4 key drivers are shown in the table below. We understand that these may well overlap and become more complex.
• Health – Physical Disability, Short or Long Term illness, Hearing or visual impairment, Mental Health condition, Addiction, Low Mental Capacity
• Life events – Retirement, Bereavement, Income Shock, Relationship Breakdown, Domestic Abuse (including economic control), Caring responsibility, Other circumstances (Care/Asylum/Human trafficking/Slavery/Convictions)
• Resilience – Inadequate or erratic income, Over-indebtedness, Low savings, Low emotional resilience
• Capability – Low knowledge or confidence in managing finance, Poor literacy/numeracy skills, Poor English Language, Poor digital skills, Learning Difficulties, No or low access to help and support
• In treating consumers fairly, we are also aware of our obligations under the Equality Act 2010.