Complaints Procedure


Verofy Limited (Verofy®, we, our) is committed to providing a quality service to our merchants. If we don’t get it right for you, we would like you tell us as soon as possible so that we can put it right and make improvements. We will:

➢ Make it easy for you to make a complaint
➢ Consider your suggestions and feedback about how we could put things right
➢ Do our best to ensure you are satisfied with how we handle your complaint.

We are authorised and regulated by the Financial Conduct Authority under Firm Reference Number 785762.

Contact us

We need to know the nature of your complaint and how you think the problem should be resolved.
Should you wish to make a complaint to us, you can raise a ticket through your merchant portal. Alternatively, you can e-mail us at

Definition of a complaint

The Financial Conduct Authority defines a complaint as:

“any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service, which alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience.”

The Financial Conduct Authority complaint rules apply to complaints:

➢ made by, or on behalf of, any complainant
➢ relating to regulated activity only
➢ involving an allegation that the complainant has suffered, or may suffer, financial loss, material distress or material inconvenience

The Payment Service Regulations 2017 complaint rules apply to complaints:
➢ made by, or on behalf, a non-eligible complainant
➢ relating to the provision of payment services
➢ involving an allegation that the complainant has suffered, or may suffer, financial loss, material distress or material inconvenience

Eligible complainants

It is our policy to treat all complainants the same, however, eligible complainants are legally defined and have additional rights in law that we must acknowledge and adhere to. An eligible complainant is a complainant that is:

➢ A consumer (a person acting outside their trade, business or profession)
➢ A micro enterprise (enterprise which employs fewer than 10 people and has a turnover or balance sheets that does not exceed EUR 2,000,000)
➢ A charity with an annual income of less than £6,500,000
➢ A trustee of a trust which has a net asset value of less than £5,000,000
➢ A consumer buy to let consumer
➢ A small business (enterprise which has an annual turnover of less than £6.5 million and employs fewer than 50 people or has a balance sheet total of less than £5 million)
➢ A guarantor

Eligible complainants may be permitted to refer their complaints to the Financial Ombudsman Service where we are not able to resolve your complaint to your satisfaction.

Non-eligible complainants are not able to refer their complaints to the Financial Ombudsman Service.

As soon as a complaint is received

All complaints will be referred to our Customer Support team at the earliest opportunity.

We will also:
➢ acknowledge the complaint in writing promptly, if the complaint may take more than 3 business days to resolve
➢ give details in our acknowledgement letter of the Financial Ombudsman Service
➢ make contact to seek clarification on any points where necessary
➢ fully investigate the complaint
➢ keep you informed of our progress
➢ discuss with you our findings and proposed response

We will contact you to advise on our progress if we cannot respond immediately. We will let you have our final response as soon as possible and not later than 15 business days, or 35 business days in exceptional circumstances only that are outside or our control.


Our team will establish the nature and scope of your complaint, having due regards to the Financial Conduct Authority’s direction to:

➢ deal with complaints promptly and fairly
➢ give complainants clear replies and, where appropriate, fair redress.

Complaints settled within 3 business days

Complaints that can be settled to your satisfaction within 3 business days can be recorded and communicated differently.

Where we consider a complaint to be resolved to your satisfaction within this time, we will promptly send you a ‘Summary Resolution Communication’, which is a written communication from us which:

(1) Refers to the fact that you have made a complaint and informs you that we now consider the complaint to have been resolved to your satisfaction.
(2) Tells you that if you subsequently decide that you are dissatisfied with the resolution of the complaint, you may be able to refer the complaint back to us for further consideration or alternatively, refer the complaint to the Financial Ombudsman Service.
(3) Indicates whether or not we consent to waive the relevant time limits (where we have discretion in such matters).
(4) Provides the website address of the Financial Ombudsman Service or details of the dispute resolution service; and
(5) Refers to the availability of further information on the website of the Financial Ombudsman Service, where applicable.

In addition to sending you a Summary Resolution Communication, we may also use other methods to communicate the information where we:

➢ consider that doing so may better meet your needs; or
➢ have already been using another method to communicate about the complaint.

Final response

We will send you a final response within 15 business days. In exceptional circumstances, beyond our control, we will send you a holding response on the 15th business day and issue the final response by the 35th business day.

The final response will set out clearly our decision and the reasons for it. If any compensation is offered, a clear method of calculation will be shown.

We will provide you with a link to the Financial Ombudsman Service leaflet, which includes their details if dealing with an eligible complainant and a regulated activity. We will also:

➢ Explain that you must refer the matter to the Ombudsman within six months of the date of this letter or the right to use this service is lost;
➢ Indicate whether or not we consent to waive the relevant time limits.

Closing a complaint

We will consider a complaint closed when we have sent our final response to you. This does not prevent you from exercising any rights you may have to refer the matter to the Financial Ombudsman Service.

Financial Ombudsman Service

We will co-operate fully with the Financial Ombudsman Service in resolving any complaints made against us and agree to be bound by any awards made by the Ombudsman. We agree to pay promptly any fees levied by the Ombudsman.

You can contact the Financial Ombudsman Service at:

Post: The Financial Ombudsman Service, Exchange Tower, London E14 9SR

Tel: 0800 023 4567 (free for most people ringing from a fixed line) or 0300 123 9123 (cheaper for calls from a mobile) or 020 7964 0500 (if calling from abroad)



Link to the Financial Ombudsman Service leaflet:

We are not covered by the Financial Services Compensation Scheme.