Who can ensure that I get a fair deal?

In the UK there are a host of organisations who monitor how we are sold financial products, and the terms contained in things like bank accounts, mortgages and insurance policies.

Heading it all is the Financial Services Authority (FSA), now considered to be the world's most powerful financial regulator.

What is the FSA?

The Financial Services Authority licenses and monitors many of the people and companies that are competing to handle our money and to sell us financial products such as: financial advisers, stockbrokers, life insurers and fund managers.

There are currently 10,000 firms regulated by the FSA, which is answerable to the government if things should go wrong.

How do I get in touch

You can call the FSA on: 0845 606 1234. Or you can visit the FSA website for information.

But before you go to the FSA, you may want to go to the Financial Ombudsman.

What does the Financial Ombudsman do?

If the financial company you are unhappy with will not do anything about your complaint, then the Financial Ombudsman is the one to turn to.

The Financial Ombudsman can order a firm to pay compensation if it is judged you have been treated unfairly.

The Ombudsman makes 30,000 judgements each year and is the consumers' champion if injustice has occurred.

Financial Ombudsman tel: 0845 080 1800

Is the Ombudsman the person to go to if I do not like the way my bank is treating me?

Possibly, but first you will need to decide whether your bank is breaking its own rules on how it treats customers.

Almost all banks and credit card companies have agreed to be bound by the Banking Code; which lays down rules on how they advise us of interest rate changes, and how they should treat us if we get into debt.

And you can call: 020 7661 9694 to get a copy of the code.

All those who have signed up to the Banking Code have agreed to allow the Financial Ombudsman to hear complaints and decide on compensation.

Some firms who are not signed up to the Banking Code have agreed to different rules drawn up the Finance and Leasing Association, but this does not include letting the Ombudsman decide the outcome of complaints.

What about my mortgage, if I am unhappy about that, who is there to turn to?

Again, there are rules that should not have been broken by those selling mortgages.

Almost everyone who sells home loans, that is the big lenders and individual mortgage brokers, have promised to abide by it and will be punished with fines or expulsion if they do not.

If you are arranging a mortgage, establish if the person selling it to you, and the firm lending the money, are signed up to the Mortgage Code.

And the people I buy insurance from. Let me guess, another code?

Yes, this one is run by the General Insurance Standards Council.

Tel: 0845 601 2857

Remember, in most cases where you cannot resolve your complaint with a bank, building society, insurer etc, the Financial Ombudsman will be the person to turn to after you have reached deadlock with the organisation you have been dealing with.

Unfortunately he cannot order companies to resolve an injustice by compensating all customers who are similarly affected.

So if, for example, a customer wins a case saying that a bank has paid unfair interest rates, the Ombudsman is unable to order that all customers should be recompensed.

Individual customers might still have to take their own case to the Ombudsman in order to win.