Most complained about firms and products revealed

Published: 15/04/2013     Last Modified: 15/08/2014
Most complained about firms and products revealed
We have published the number of complaints received by banks, building societies, insurers and mortgage providers during the second half of 2012, and what those complaints were about. If you are thinking about moving your money, comparing mortgages or buying a new insurance policy, we show the number of complaints your firm has received.

Complaints levels remain stable

There were a total of 3.4 million complaints to financial services firms between July and December 2012. This is a small increase of one per cent on the first half of 2012.

Firms with most complaints opened

Company name

No. of complaints

% change*

Barclays Bank plc

414,302

-6%

Lloyds TSB Bank plc

349,386

-19%

Bank of Scotland plc

338,912

-7%

MBNA Limited

270,486

-3%

Santander UK plc

237,923

-1%

*Change between January-June 2012 and July-December 2012.

Barclays received the most new complaints in the second half of 2012. This is 6% down on the first half of 2012. However, during this period, the number of banking-specific complaints made to all firms dropped by 12% to 728,284.

See how many complaints your firm received, how promptly they were dealt with and how many were successful.

Ten most complained about financial products

Financial product

No. of complaints opened

% change in complaints opened*

Payment protection insurance

2,170,537

5%

Current accounts

304,196

-6%

Other general insurance

296,679

6%

Credit cards

283,705

-14%

Savings (inc cash ISA) and other banking

100,797

-20%

Other regulated home finance products

62,198

-2%

Unregulated loans

39,586

-18%

Endowments

34,492

0%

Personal pensions and Free Standing Additional Voluntary Contributions (FSAVCs)

22,713

-8%

Other decumulation (ie. conversion of pension assets accumulated during working life into pension income to be spent during retirement.), life and pensions

18,918

-10%

*Change between January-June 2012 and July-December 2012.

Payment protection insurance (PPI) dominated consumers’ complaints between July-December 2012 with firms receiving 2.1 million complaints. This showed a slight increase (5%) on the first half of the year. Overall, PPI made up for 63% of the all complaints received.

Current accounts and general insurance, not including PPI, were the next most common with 304,196 and 296,679 complaints respectively.

Having seen a significant increase in the first part of 2012, complaints about credit cards fell by 14% on the previous six months, with complaints about savings also dropping by a fifth.

Find out more on the number of complaints received according to all types of financial product and what caused the complaints.

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If you need to complain

Making a complaint to a financial services company is free and straightforward. We explain what do if you are not unhappy about a financial product or service you have received.

How to complain