T&C Activity
Who set the minimum expectations for training & Competence for Financial services firms?
Financial Conduct Authority (FCA)
How many questions does someone need to get right to pass security?
4
What department handles accounts in arrears?
Collections/CLS
How long does it take for a bank transfer to clear?
1 working day
How long after a complaint is raised should a customer receive confirmation it was raised?
5 working days
Who Owns the T&C Framework?
A: The Operational Control T&C
B: The Business Unit
C: The FCA
The Operational Control T&C
How long does verbal permission last?
Until the end of the working day/5pm.
What department is the VT checklist emailed to?
Auctions
Double Jeopardy
How long does it take a direct debt to clear?
5 working days
After raising a complaint, when can a customer raise the complaint with the FoS?
After 8 weeks or getting their final decision letter.
At What stage of the T&C framework would an individual be competent?
stage 3
What is the max amount of security questions that can be asked?
8
When we fill out a complaint form, what department do we send it to?
Support/Customer Help/ Northridge Customer Service
How long after a direct debt is taken can it be refunded?
8 - 10 working days
What does FoS stand for?
Financial Ombudsmen Service
What are the potential outcomes of evaluation activity?
Competent, competent with development and Non-Competent
Double Jeopardy
What questions can be answered without passing security?
General enquiries/if we hold interest in a vehicle.
What is the password for the DCA team for February?
Iceberg
When a direct debt is rejected, how long after is it reapplied for?
10 working days
What are the timeframes under the Consumer rights act 2015?
1 month after purchase customer can reject vehicle or accept repairs, after 1st month and up to 6 months dealership is entitled to 1 chance to repair, after 6 months customer must prove fault was at point of sale.
Double Jeopardy
When should feedback be given following a non-competent activity?
Immediately or as soon as possible
How close to the original loan/finance does the customer have to be to pass the security question?
+/- 500
What details must be give to another agent before transferring call?
Password, agreement number and dpa passed
How much can a customer change their payment date by from the original payment date?
Anything under a month
Double Jeopardy
Under what circumstances would the dealership be required to give the customer a courtesy car?
There is never a requirement, it is a courtesy.