What is the FCA Consumer Duty?

The Consumer Duty is an FCA standard, in force from 31 July 2023, that requires regulated firms to deliver good outcomes for retail customers. It sets a consumer principle and four outcomes: products and services, price and value, consumer understanding, and consumer support.

What are the four Consumer Duty outcomes?

The four outcomes are: products and services that meet customers' needs, price and value that is fair, consumer understanding so customers can make good decisions, and consumer support that is as easy to use as the product was to buy.

Free tool

Consumer Duty readiness checker

Answer ten quick questions to see how ready you are to evidence good outcomes under the FCA Consumer Duty, and where to focus.

Products & services

You assess whether each product meets the needs of its identified target market.

You review products regularly to confirm they still deliver good outcomes.

Price & value

You can evidence that your pricing offers fair value, not just that it is competitive.

You check for customers paying more for the same outcome, such as a loyalty penalty.

Consumer understanding

You test that customer communications are actually understood, not just technically compliant.

Key terms, costs and risks are clear at the moment the customer decides.

Consumer support

It is as easy to cancel, complain or switch as it is to take out the product.

You offer proactive, tailored support to customers in arrears or difficulty.

Vulnerability & monitoring

You identify and appropriately support customers in vulnerable circumstances.

You monitor outcomes with data and act where groups of customers are being harmed.

About the Consumer Duty

The Consumer Duty is an FCA standard, in force since 31 July 2023, requiring firms to deliver and evidence good outcomes for retail customers across four areas: products and services, price and value, consumer understanding, and consumer support. This checker is a quick, informal self-assessment against those outcomes. It is not regulatory advice, and a high score is not a guarantee of compliance.

This tool gives a rough estimate for guidance only. It is not a lending decision, credit or financial advice, or a regulated affordability assessment. Figures are illustrative.

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