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.