Motor Finance Consumer Redress Scheme FAQs
Can I still make a complaint?
Yes. Customers can continue to contact Conister Bank regarding a historic motor finance agreement. If you have already contacted us, there is no need to submit another complaint, as your enquiry or complaint remains on record.
Will all customers receive compensation?
No. Eligibility will depend on the specific circumstances of each finance agreement and the final requirements of the FCA scheme. Not all Conister Bank motor finance customers will be eligible for compensation
When will compensation be paid?
The FCA has stated that if the scheme proceeds following the legal challenge, compensation payments are expected to begin during 2027. The timing will depend on the outcome of the Tribunal proceedings and any subsequent appeals.
Do I need to use a claims management company?
No. You can contact Conister Bank directly, free of charge. The FCA has also advised that customers do not need to use a claims management company or law firm to make a complaint or participate in the scheme. You can find Conister Bank's details on the FCA's Car Finance list of lenders. Template complaint letters and emails are found on the FCA's website.
Do I need to take any action now?
No. Customers do not need to take any action at this stage. The FCA's Motor Finance Consumer Redress Scheme is currently partially suspended while legal challenges are considered by the Upper Tribunal. We will contact affected customers if any further action is required.
For more information about the legal challenge and what it means for customers, please read the FCA's Motor Finance Legal Challenge Factsheet for Complainants.
What happens if I am not entitled to compensation?
If you have submitted a complaint and are not entitled to compensation under the FCA scheme, Conister Bank will notify you in line with the timescales prescribed by the FCA. Where applicable, we will explain the outcome and any options available to you, please read the FCA's Motor Finance Legal Challenge Factsheet for Complainants.
What if I have already contacted Conister Bank?
If you have already submitted a complaint or enquiry about a motor finance agreement, there is no need to contact us again. Your complaint remains on record and we will contact you if further information is required or when we have an update on your case.