In accordance with the guidance issued by the Channel Islands Financial Ombudsman, Bank Julius Baer & Co Ltd., Guernsey Branch (the Bank) is required to advise you of its complaints handling procedures. These procedures describe what the Bank will do, how we will handle your complaint and further action available to you.
The Bank has a complaint handling procedure in place for the investigation of complaints received. We will investigate all complaints received from our clients, potential clients or other counterparty, regarding the products and services or advice we provide.
A complaint can be made in person, via the telephone or in writing either by letter or email. Once received, your complaint will be logged and investigated. Your complaint will normally be investigated by an individual with some knowledge and experience of your case. However, depending on the nature of your complaint, an independent investigator may be appointed. An independent investigator will be someone appointed from within the Bank with appropriate seniority, knowledge and experience, who has not been involved in the activity that has given rise to your complaint. We will aim to resolve your complaint as quickly as possible.
The following timetable summarises when you will receive a response and what it will include:
On Receipt of a Complaint
Unless by the end of the third business day following the business day on which your complaint was received, you have confirmed, either verbally or in writing, that your complaint has been resolved to your satisfaction and the Bank has written to you confirming this but noting that if you remain dissatisfied you may be able to refer the complaint to the Channel Islands Financial Ombudsman (CIFO), the Bank will write to you within five working days answering your complaint.
If your complaint cannot be settled within this time frame a confirmation of receipt and a progress report detailing the steps the Bank is taking to resolve the complaint will be sent to you.
The Bank must send you a written final response within eight weeks of first receiving your complaint. The final response will either:
- Accept your complaint and offer any appropriate redress and/or remedy; or
- Offer redress and/or remedy without accepting your complaint; or
- Reject your complaint and give the reasons for doing so.
The final response will also tell / remind you in writing that, if you remain dissatisfied you:
- Can refer your complaint to the CIFO;
- Must refer your complaint to the CIFO within six months of the final response, giving the date the six months expires (the Bank will advise you of this date); and
- Must do so within six years of the event complained about or (if later), within two years of when you could reasonably have been expected to become aware that you had a reason to complain
The contact details for the CIFO are:
Channel Islands Financial Ombudsman (CIFO)
PO Box 114
Jersey local phone: 01534 748610
Guernsey local phone: 01481 722218
International phone: +44 1534 748610
Should your complaint remain unsettled the Bank is required to inform the Guernsey Financial Services Commission, our local Regulator, of this and to advise you that you may inform them directly of your complaint. The role of the Regulator is to ensure that regulated entities have the appropriate systems and controls in place to deal with complaints in an open and transparent manner. You may also contact them following the submission of your complaint, if you are dissatisfied at any point in time with the way in which the Bank is dealing with your complaint. Their contact details are:-
The Guernsey Financial Services Commission
PO Box 128
St Peter Port
Guernsey local phone: 01481 712706
International phone: +44 1481 712706