Aggregate complaints data: 2023 H1

This page provides an overview of financial services firms' complaints reported to us during 2023 H1 (1 January to 30 June 2023), including the latest trends and analysis split by product group.

By analysing this data, we evaluate the firms' treatment of their customers and track changes in their performance over time. We also use this information to support our supervision of firms and markets, and to identify any potential concerns related to specific financial products.

Download the aggregate complaints data (XLSX)

Key Findings

  • In 2023 H1, financial services firms received 1.88m opened complaints, an increase of 5% from 2022 H2 (1.80m) (figure 1).
     
  • The product groups that experienced an increase in their opened complaint numbers from 2022 H2 to 2023 H1 were the following: decumulation & pensions (20%), investments (18%), insurance & pure protection (6%), & banking and credit cards (3%).
     
  • The home finance product group saw a 10% reduction in opened complaints from 101,333 (2022 H2) to 91,469 (2023 H1).
     
  • Since 2016 H2, current accounts have remained the most complained about product. The number of current accounts opened complaints increased, from 500,371 in 2022 H2 to 509,923 in 2023 H1 (2%).
     
  • Noticeable increases in opened complaints can be seen in the following products: motor & transport from 238,009 in 2022 H2 to 278,034 in 2023 H1 (17%), credit cards from 188,200 in 2022 H2 to 201,925 in 2023 H1 (7%), property from 86,150 in 2022 H2 to 92,091 in 2023 H1 (7%), & savings (including ISAs) from 69,373 in 2022 H2 to 85,315 in 2023 H1 (23%).
     
  • The percentage of complaints upheld increased from 60% in 2022 H2 to 61% in 2023 H1. Excluding 2022 H2, the percentage of upheld complaints has been steadily rising since 2019 H2.
     
  • Redress payments went up by 4% from £228m in 2022 H2 to £236m in 2023 H1, but this is 22% below the 2022 H1 figure of £304m. This year-over-year decline is largely due to a 75% decrease in the redress paid for payment protection insurance complaints, decreasing from £32m in 2022 H1 to £8m in 2023 H1.
     
  • Home finance products have the highest figure for opened complaints per 1,000 products sold of 6.8 in both 2022 H2 & 2023 H1 (figure 2).

In 2022, we revised the product group context figure calculation methodology to reduce errors in firm reporting. Be careful when comparing data with previous years.

 

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Table 1.1 – All complaints closed

  2021 H2 2022 H1 2022 H2 2023 H1
Total complaints closed 1.91m 1.91m 1.76m 1.90m
Of which:        
Complaints closed within 3 days 49% 51% 47% 46%
Complaints closed > 3 days but within 8 weeks 45% 44% 48% 47%
Complaints closed > 8 weeks 6% 5% 6% 8%

Source: FCA complaints data

Table 1.2 – All complaints closed by product group

  Banking & credit cards Decumulation & pensions Home finance Insurance & pure protection Investments
  2022 H2 2023 H1 2022 H2 2023 H1 2022 H2 2023 H1 2022 H2 2023 H1 2022 H2 2023 H1
Total complaints closed 823,706 852,140 72,407 83,258 96,771 95,311 719,250 810,258 48,161 55,517
Of which:                    
Closed within 3 days 52% 52% 26% 23% 30% 32% 46% 44% 28% 25%
Closed > 3 days < 8 weeks 45% 43% 59% 56% 60% 54% 47% 48% 62% 64%
Closed > 8 weeks 4% 5% 14% 21% 10% 14% 7% 8% 10% 12%

Source: FCA complaints data

Table 2.1 – Complaints upheld, and redress paid

    2021 H2 2022 H1 2022 H2 2023 H1
Total complaints closed 1.90m 1.91m 1.76m 1.90m
of which:        
Upheld 1.12m 1.17m 1.06m 1.15m
% Upheld 59% 61% 60% 61%
Total redress paid £294.8m £304.4m £228.1m £236.3m
Redress paid for upheld complaints £253.4m £268.6m £198.5m £210.7m
Redress paid for complaints not upheld £41.4m £35.8m £29.6m £25.6m
Average redress upheld £226 £230 £187 £183

Source: FCA complaints data

Table 2.2 – Complaints upheld, and redress paid by product group

  Banking and credit cards Decumulation & pensions Home finance Insurance & pure protection Investments
  2022 H2 2023 H1 2022 H2 2023 H1 2022 H2 2023 H1 2022 H2 2023 H1 2022 H2 2023 H1
Closed value 823,706 852,140 72,407 83,258 96,771 95,311 719,332 810,258 48,161 55,517
of which:                    
Upheld 483,227 504,436 46,162 54,209 57,509 55,223 447,030 506,281 25,954 30,815
% Upheld 59% 59% 64% 65% 59% 58% 62% 62% 54% 56%
Total redress paid £104.8m £110.1m £28.9m £28.0m £14.3m £14.4m £64.6m £62.2m £15.5m £21.6m
Redress paid upheld complaints £88.4m £96.4m £25.8m £25.1m £13.0m £12.9m £57.8m £56.4m £13.6m £19.9m
Redress paid complaints not upheld £16.4m £13.7m £31.3m £2.8m £1.3m £1.5m £6.8m £5.8m £1.9m £1.7m
Average redress upheld £183 £191 £558 £464 £226 £234 £129 £111 £522 £645

Source: FCA complaints data

Aggregate complaints data sortable tables: 2023 H1

 

Product

Product Group

2022 H1

2022 H2

2023 H1

Annuities (including enhanced and impaired)

Decumulation & pensions

4,978

6,494

8,694

Assistance

Insurance & pure protection

26,428

29,091

27,518

Credit cards

Banking and credit cards

199,359

188,200

201,925

Crowdfunding / Peer to Peer

Investments

602

562

361

Current accounts

Banking and credit cards

528,850

500,371

509,923

Decumulation packaged multi products

Decumulation & pensions

25

1

0

Discretionary management services

Investments

1,029

1,088

1,147

Drawdown and UFPLS

Decumulation & pensions

5,012

5,075

6,326

Endowments

Investments

4,188

3,603

3,490

Equity release

Home finance

2,699

2,674

2,085

ETPs

Investments

326

215

204

FX/CFD/Spreadbetting

Investments

1,358

1,175

1,190

General insurance packaged multi products

Insurance & pure protection

23,796

26,764

19,713

Impaired credit

Home finance

559

592

581

Income protection and other accident, sickness and unemployment

Insurance & pure protection

3,393

3,192

3,724

Investment bonds

Investments

7,603

8,199

11,059

Investment packaged multi products

Investments

48

71

80

Investment trusts

Investments

543

725

815

ISAs (where investment held)

Investments

18,198

15,988

19,472

Medical/health

Insurance & pure protection

76,789

79,351

85,316

Motor & transport

Insurance & pure protection

245,101

238,009

278,034

Non-discretionary management services

Investments

885

813

965

Non-workplace personal pensions (e.g. SIPPs, SHPs, PPPs)

Decumulation & pensions

38,629

38,543

47,413

Other banking - Please provide details below

Banking and credit cards

30,784

28,197

28,159

Other decumulation

Decumulation & pensions

21

57

77

Other general insurance

Insurance & pure protection

251,049

154,014

142,758

Other investment products/funds

Investments

8,531

6,986

6,226

Other pensions

Decumulation & pensions

320

270

367

Other pure protection

Insurance & pure protection

840

7,685

8,549

Other regulated home finance products

Home finance

68,221

78,418

70,130

Other unregulated home finance products

Home finance

14,931

17,398

16,682

Overdrafts

Banking and credit cards

14,648

12,182

9,386

Packaged accounts

Banking and credit cards

45,935

26,178

12,788

Payment protection insurance

Insurance & pure protection

6,687

3,622

3,287

Pensions packaged multi products

Decumulation & pensions

20

10

19

Pet

Insurance & pure protection

22,026

23,466

27,799

Platforms

Investments

5,928

5,055

7,524

Property

Insurance & pure protection

94,609

86,150

92,091

Protection packaged multi products

Insurance & pure protection

487

827

887

Savings (including ISAs)

Banking and credit cards

51,419

69,373

85,315

Second and subsequent charge

Home finance

2,107

2,250

1,991

Structured products

Investments

198

219

163

Third way products (e.g. investment linked, variable, fixed term)

Decumulation & pensions

74

92

94

Travel

Insurance & pure protection

22,261

31,900

31,279

Trust based pensions (e.g. Occupational and DB)

Decumulation & pensions

7,201

8,814

8,487

UCITS

Investments

191

180

219

Unit trusts/OEICs

Investments

4,293

3,792

4,351

Warranty

Insurance & pure protection

44,077

42,995

49,836

Whole of life/term assurance/critical illness

Insurance & pure protection

23,689

24,908

27,073

Workplace personal pensions (e.g. SIPPs, SHPs, PPPs)

Decumulation & pensions

13,921

13,713

16,514

Complaints, contextualised by number of products.

Product

Product Group

2022 H1

2022 H2

2023 H1

Annuities (including enhanced and impaired)

Decumulation & pensions

0.7

0.9

1.2

Assistance

Insurance & pure protection

1.1

3.1

3.5

Credit cards

Banking and credit cards

3.7

3.5

3.6

Crowdfunding / Peer to Peer

Investments

2.6

0.8

Current accounts

Banking and credit cards

4.7

4.3

4.3

Discretionary management services

Investments

0.8

0.9

1.0

Drawdown and UFPLS

Decumulation & pensions

4.6

4.8

5.7

Endowments

Investments

2.4

2.2

1.4

Equity release

Home finance

7.8

6.1

5.9

ETPs

Investments

4.4

3.1

0.0

FX/CFD/Spreadbetting

Investments

0.5

0.5

0.1

General insurance packaged multi products

Insurance & pure protection

2.3

2.9

1.5

Impaired credit

Home finance

4.6

3.9

4.3

Income protection and other accident, sickness and unemployment

Insurance & pure protection

0.3

0.3

0.3

Investment bonds

Investments

3.0

4.3

Investment packaged multi products

Investments

2.9

40.3

2.9

Investment trusts

Investments

222.0

5.2

5.1

ISAs (where investment held)

Investments

1.7

1.4

1.8

Medical/health

Insurance & pure protection

8.8

10.5

8.8

Motor & transport

Insurance & pure protection

2.9

3.2

3.7

Non-discretionary management services

Investments

0.3

0.1

0.1

Non-workplace personal pensions (e.g. SIPPs, SHPs, PPPs)

Decumulation & pensions

2.7

2.6

3.3

Other banking - Please provide details below

Banking and credit cards

2.6

2.3

2.4

Other general insurance

Insurance & pure protection

3.1

2.0

2.1

Other investment products/funds

Investments

0.6

0.5

0.4

Other pensions

Decumulation & pensions

0.5

0.4

0.6

Other pure protection

Insurance & pure protection

0.5

8.5

9.3

Other regulated home finance products

Home finance

4.2

7.0

7.0

Other unregulated home finance products

Home finance

3.1

6.0

6.0

Overdrafts

Banking and credit cards

0.3

0.3

0.2

Packaged accounts

Banking and credit cards

7.2

3.5

1.7

Payment protection insurance

Insurance & pure protection

0.3

0.2

0.2

Pensions packaged multi products

Decumulation & pensions

1,166.7

Pet

Insurance & pure protection

4.3

4.6

5.5

Platforms

Investments

1.2

0.6

2.0

Property

Insurance & pure protection

2.2

2.0

2.2

Protection packaged multi products

Insurance & pure protection

0.9

0.5

0.5

Savings (including ISAs)

Banking and credit cards

0.4

0.5

0.7

Second and subsequent charge

Home finance

14.3

15.0

12.8

Structured products

Investments

7.5

14.5

4.6

Third way products (e.g. investment linked, variable, fixed term)

Decumulation & pensions

0.5

2.2

2.1

Travel

Insurance & pure protection

0.9

0.6

0.9

Trust based pensions (e.g. Occupational and DB)

Decumulation & pensions

0.6

0.8

0.7

UCITS

Investments

0.9

0.6

0.7

Unit trusts/OEICs

Investments

0.9

0.8

0.8

Warranty

Insurance & pure protection

2.4

2.8

2.6

Whole of life/term assurance/critical illness

Insurance & pure protection

0.8

0.8

0.9

Workplace personal pensions (e.g. SIPPs, SHPs, PPPs)

Decumulation & pensions

1.0

0.8

1.0

Context data

Please see about our complaints data section for information about context data.

Disclaimer 

The figures reported within this data are accurate at the time of publication. However, they can be subject to change depending on firm submissions.

Copyright

The data on this page is available under the terms of the Open Government Licence.