Vulnerable Customer Policy

The purpose of this policy is to ensure that the operations of Regalian Ltd trading as The Diamond Store or any of its subsidiaries, partners and providers do not have a negative impact upon vulnerable customers.

For the purposes of this policy, vulnerable customers are defined as customers or prospective customers whose ability or circumstances require us to take extra precautions in the way that we sell and provide our services to ensure that they are not disadvantaged in any way.

What is a vulnerable customer?

The Financial Conduct Authority (FCA) defines a vulnerable customer as ‘someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care’.

The FCA expects firms, like us, to treat customers fairly when dealing with people with vulnerable circumstances.

Identifying a vulnerable customer

Our staff are trained to identify vulnerable customers so that we can take extra steps to assist them outside of our standard procedures. However, it is not always easy or possible to recognise these characteristics.

Therefore, if you believe you may fit the criteria for a vulnerable customer, please read this policy and notify us immediately of your particular needs.

Vulnerability groups

We recognize that certain groups of customers may be vulnerable. Whilst not all customers in these groups may be vulnerable, we will consider individual circumstances where a potential vulnerability is identified.

These groups may include, but are not restricted to:

  • Customers with communication difficulties (for example, learning difficulties, dyslexia, English not being the first language)
  • Customers with a reduction in physical or mental capacity
  • Customers with health issues or illness, whether physical or mental, severe or long term (for example, dementia, mental illnesses, cancer, etc.)
  • A sudden diagnosis of a serious illness to the customer or close family member
  • Personal circumstances of the customer (for example, severe financial difficulties, bereavement, caring responsibilities or redundancy)
  • The customer’s age, particularly older and younger people (for example, a younger person may be considered inexperienced and an older person may be considered less technologically able)

Our key principles when engaging with a vulnerable customer

As soon as we think that we may be engaging with a vulnerable customer, whether this is through our identification, or due to the customer approaching us, we will:

  • Immediately make a record of this and ensure that we adhere to this policy
  • Provide additional opportunities for the vulnerable customer to ask questions about the information we have provided
  • Continuously seek confirmation that the vulnerable customer has understood the information that has been provided
  • Ask if there is anybody with the vulnerable customer who is able to assist, and if not (and if we believe this will be beneficial), make arrangements to continue with the subject matter at another time
  • Allow more time and flexibility in the vulnerable customer’s arrangements with us, in order to try and reach a successful outcome

If we cannot do any of the above, we will try and make sure that the vulnerable customer understands what alternative options are available to them

Further information

To obtain further information or to register as a vulnerable customer you can contact us by email at, by phone +44 (0)208 457 3362 or through our Contact Us page.