Consumer Duty deposit rules 2026

The FCA’s Consumer Duty refresh (landing Q1 2026) extends to home services, forcing clearer deposit disclosures and faster refunds when jobs slip. If you collect upfront payments through Toolfy, use this checklist so you stay compliant without slowing bookings.

1. What’s changing

• Pre-contract info: you must spell out deposit amount, refundable scenarios, and timelines before the customer pays.
• Receipts: confirmations must include cancellation rights and contact info for disputes.
• Refund SLAs: qualifying refunds need to be processed within 7 calendar days, even for micro firms.
• Record keeping: regulators expect a digital trail showing customer consent and refund timestamps.

2. Update quotes & invoices now

1. Quote templates: add a “Deposits & cancellations” block inside your Toolfy quote template with plain-English bullets (deposit %, refundable events, admin fees).
2. Invoice footers: include contact email plus “refund timeline” line so receipts meet Duty rules.
3. Multi-language: if you serve multilingual neighbourhoods, store translated versions in Documents and pick the right one per customer.

3. Consent + proof inside Toolfy

• Checkboxes: add a required checkbox to digital quotes (“I agree to the deposit terms above”). Toolfy logs acceptance time + IP.
• Call notes: log any verbal agreement on the job card; attach call recording if you use VoIP integration.
• Refund tracker: tag jobs that need refunds and create a reminder workflow to alert you if the refund isn’t processed within 5 days.

4. Refund workflow (7-day SLA)

1. Trigger Toolfy’s refund action (Stripe/Square) the same day you approve.
2. Upload the refund confirmation PDF/email to the job.
3. Send the customer a short email template documenting reason + timeline (store template in Documents → Compliance).
4. Close the loop in your “Duty log” spreadsheet so you can show regulators the end-to-end trail.

5. Staff training for tiny teams

• Host a 20-minute review using Toolfy Documents. Cover: when deposits are mandatory, how to update quotes, and how to escalate edge cases.
• Create a “Deposits escalation” task list in Toolfy so apprentices know who to call if a customer disputes a charge on site.
• Add Consumer Duty FAQs to your onboarding checklist for any new hire or subcontractor.

6. Timeline to stay ahead

| Date | Action | | --- | --- | | December 2025 | Draft new deposit copy and translate if needed. | | January 2026 | Update Toolfy templates + reminder workflows; test acceptance checkbox and refund reminders. | | February 2026 | Run mock audit: pull three random jobs, confirm deposit terms + refunds are logged. | | Launch month | Email existing customers describing the updated policy; store the message in your CRM history. |

If you want our deposit disclosure block or the refund reminder workflow, email support@toolfy.io and we’ll drop it straight into your workspace.