Regulators
What is the job of the PRA?
In charge of making and enforcing the rules.
True or False
There is no cooling off period with a fixed rate bond?
True
What is the code to view an account within summit?
CUVL
What is Redress?
Compensating the customer for the error
After asking security questions that pop up on the screen, what other TWO questions do you need to ask your customer?
They need to confirm their telephone number AND e mail address
(checked every 30 days, there will be a pop up in Pega)
What regulators are involved with Shawbrook?
FOS - Financial ombudsman service
PRA - Prudential regulation authority
FCA - Financial conduct authority
FSCS - Financial services composition scheme
What are the withdrawal penalties for a Fixed Term ISA?
1 Year - 90 days
2 Year - 180 days
3 Year - 270 days
5 Year - 360 days
7 Year - 360 days
What does ACMIM amend?
To put an account on maturity
What are the three elements of distress to consider when handling a complaint?
Material distress
Financial loss
Material inconvenience
what does TRUST stand for?
Talk
Reassure
Understand
Support
Tailord
How much are you protected by the FSCS for a sole account?
Bonus x2 for a joint account
£85,000 (Sole)
£170,000 (Joint)
What is the maximum amount you can have in an Easy Access Cash ISA?
£250,000
What code is used to amend a customers address?
CUAMH
What are the five steps to good complaint handling?
Acknowledge
Probe
Isolate
Answer
Confirm
What forms of ID would you need to open an account?
Passport
Driving licence
HMRC letter
What is the maximum penalty that the FCA can enforce on a company?
Take away company's licence to trade
When are you able to fund a fixed rate bond?
Once the account is open
What code would you use to apply Maturity to an ISA in summit?
ACMIM
What are the steps and process in place to deal with complaints?
Complaint received, acknowledgement letter, 4-week letter, 8-week letter, final response letter. financial ombudsman
Who do you report a SAR to?
No one, you just report it on the online portal
(FCCM portal)
How long has the customer got to contact the FOS after the final response letter has been received?
6 Months.
What is the maximum amount you can hold within a fixed rate bond?
Two Million Pound
What are the three codes used to change a linked bank account?
BACM&AUPM
SAM
What are the seven ways of making a complaint?
Phone
Social media
Secure messaging
Letter
Exco
Shawbrook website.
How much can you claim for a small estate indemnity?
£15,000