This page gives an overview of the complaints financial services firms reported to the FCA during 2024 H2 (1 July to 31 December 2024), including the latest trends and analysis by product group.
By analysing this data, we evaluate firms' treatment of their customers and track changes in their performance over time. We also use this information in our supervision of firms and markets, and to identify any potential concerns about specific financial products.
- Key findings
- Aggregate complaints data sortable tables: 2024 H2
- Opened complaints
- Closed complaints
- Complaints upheld
- Redress paid
- About the complaints data
Download the aggregate complaints data (XLSX)
Key Findings
- In 2024 H2, financial services firms received 1.78m complaints, a 4.3% decrease from 2024 H1 (1.86m) (Figure 1). Since 2021 H1, complaints have stayed relatively constant between 1.7m and 2.0m.
- All product groups saw a decrease in their complaint numbers:
- Banking and credit cards decreased 1.3% from 850,983 (2024 H1) to 839,526 (2024 H2)
- Decumulation & pensions decreased 4.2% from 93,045 (2024 H1) to 89,172 (2024 H2)
- Home finance decreased 10.0% from 93,234 (2024 H1) to 83,936 (2024 H2)
- Insurance & pure protection decreased 6.0% from 764,272 (2024 H1) to 718,496 (2024 H2)
- Investments decreased 15.7% from 62,825 (2024 H1) to 52,971 (2024 H2)
- There were decreases in the 3 most-often complained about products:
- Current accounts from 492,558 in 2024 H1 to 491,172 in 2024 H2 (0.3%)
- Motor and transport from 276,795 in 2024 H1 to 254,788 in 2024 H2 (8.0%)
- Credit cards from 222,529 in 2024 H1 to 217,160 in 2024 H2 (2.4%)
- Most other products saw small increases or decreases by similar percentage amounts. The 2 products with the largest percentage changes, driven mostly by the low number of complaints about those products, were:
- Investment packaged multi products from 73 in 2024 H1 to 115 in 2024 H2 (57.5% increase)
- Protection packaged multi products from 554 in 2024 H1 to 788 in 2024 H2 (42.2% increase)
- The percentage of complaints that were upheld by firms remained around 57% between 2024 H1 and 2024 H2.
- In 2024 H2 the total amount of redress was £236m. This is a 3.0% decrease on the 2024 H1 figure of £243m.
In preparing this publication, we identified a discrepancy in our calculations which resulted in an overstatement of the total number of accounts in the product groups Banking and Credit Cards and Investments. This figure is used in calculating the relevant contextualisation metric in Figure 2. We have made the necessary updates for this and future publications. Previous publications will remain unchanged.
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.
Additionally, figures for previous years may have changed when compared to previously published figures, due to firm re-submissions.
Chart tips: hover over the data series to view the data values and filter the data categories by clicking on the chart filters.
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Table 1 – Complaints closed in the period
| All complaints | ||||
|---|---|---|---|---|
| 2023 H1 | 2023 H2 | 2024 H1 | 2024 H2 | |
| Grand Total | 1,897,746 | 1,908,308 | 1,867,834 | 1,783,169 |
| Complaints closed within 3 days | 45.47% | 46.00% | 43.36% | 44.68% |
| Complaints closed > 3 days but within 8 weeks | 46.89% | 48.11% | 49.71% | 50.04% |
| Complaints closed > 8 weeks | 7.64% | 5.89% | 6.93% | 5.28% |
Source: FCA complaints data
Table 2 – Complaints upheld, and redress paid
| 2023 H1 | 2023 H2 | 2024 H1 | 2024 H2 | |
|---|---|---|---|---|
| Closed Value | 1,897,746 | 1,908,308 | 1,867,834 | 1,783,169 |
| of which: | ||||
| Upheld Value | 1,152,396 | 1,087,741 | 1,059,248 | 1,010,067 |
| % Upheld | 60.72% | 57.00% | 56.71% | 56.64% |
| Redress Value | £236,497,646 | £261,028,349 | £243,161,052 | £235,862,365 |
| Redress paid for upheld complaints | £210,930,890 | £221,725,053 | £213,298,705 | £208,877,023 |
| Redress paid for complaints not upheld | £25,566,756 | £39,303,296 | £29,862,347 | £26,985,342 |
| Average redress upheld | £183 | £204 | £201 | £207 |
Source: FCA complaints data
Aggregate complaints data sortable tables: 2024 H1
| Product | Product Group | 2023 H2 | 2024 H1 | 2024 H2 |
|---|---|---|---|---|
| Current accounts | Banking and credit cards | 515,639 | 492,558 | 491,172 |
| Motor & transport | Insurance & pure protection | 281,251 | 276,795 | 254,788 |
| Credit cards | Banking and credit cards | 232,757 | 222,529 | 217,160 |
| Other general insurance | Insurance & pure protection | 118,981 | 118,520 | 123,824 |
| Property | Insurance & pure protection | 91,940 | 100,250 | 91,890 |
| Savings (including ISAs) | Banking and credit cards | 91,177 | 83,392 | 80,592 |
| Medical/health | Insurance & pure protection | 80,293 | 95,886 | 77,075 |
| Other regulated home finance products | Home finance | 70,393 | 70,619 | 63,670 |
| Warranty | Insurance & pure protection | 43,704 | 53,576 | 51,383 |
| Non-workplace personal pensions (e.g. SIPPs, SHPs, PPPs) | Decumulation & pensions | 45,996 | 50,832 | 49,383 |
| Travel | Insurance & pure protection | 34,669 | 27,551 | 29,280 |
| Pet | Insurance & pure protection | 26,984 | 28,019 | 27,748 |
| Whole of life/term assurance/critical illness | Insurance & pure protection | 23,673 | 24,674 | 23,622 |
| Other banking - Please provide details below | Banking and credit cards | 73,419 | 22,107 | 21,353 |
| Assistance | Insurance & pure protection | 26,632 | 18,125 | 20,370 |
| ISAs (where investment held) | Investments | 21,170 | 22,737 | 18,483 |
| Workplace personal pensions (e.g. SIPPs, SHPs, PPPs) | Decumulation & pensions | 17,749 | 16,341 | 16,413 |
| Other unregulated home finance products | Home finance | 19,147 | 16,759 | 14,738 |
| General insurance packaged multi products | Insurance & pure protection | 19,336 | 14,866 | 12,203 |
| Investment bonds | Investments | 11,290 | 10,963 | 10,056 |
| Drawdown and UFPLS | Decumulation & pensions | 7,008 | 9,037 | 8,232 |
| Annuities (including enhanced and impaired) | Decumulation & pensions | 8,523 | 9,009 | 7,499 |
| Other investment products/funds | Investments | 7,089 | 7,526 | 6,618 |
| Trust based pensions (e.g. Occupational and DB) | Decumulation & pensions | 7,122 | 7,414 | 6,466 |
| Income protection and other accident, sickness and unemployment | Insurance & pure protection | 3,733 | 4,108 | 4,527 |
| Unit trusts/OEICs | Investments | 4,437 | 4,496 | 4,086 |
| Second and subsequent charge | Home finance | 2,698 | 3,022 | 2,639 |
| Endowments | Investments | 3,164 | 3,046 | 2,562 |
| Equity release | Home finance | 1,929 | 2,201 | 2,328 |
| FX/CFD/Spreadbetting | Investments | 1,302 | 1,153 | 1,052 |
| Protection packaged multi products | Insurance & pure protection | 509 | 554 | 788 |
| Impaired credit | Home finance | 714 | 633 | 561 |
| Payment protection insurance | Insurance & pure protection | 2,012 | 882 | 558 |
| Other pensions | Decumulation & pensions | 339 | 286 | 537 |
| Other pure protection | Insurance & pure protection | 381 | 466 | 440 |
| Investment trusts | Investments | 1,344 | 508 | 415 |
| ETPs | Investments | 327 | 303 | 389 |
| Crowdfunding / Peer to Peer | Investments | 301 | 292 | 306 |
| UCITS | Investments | 188 | 187 | 209 |
| Structured products | Investments | 107 | 131 | 152 |
| Investment packaged multi products | Investments | 75 | 73 | 115 |
| Third way products (e.g. investment linked, variable, fixed term) | Decumulation & pensions | 91 | 75 | 67 |
| Pensions packaged multi products | Decumulation & pensions |
Complaints, contextualised by number of products.
| Product | Product Group | 2023 H2 | 2024 H1 | 2024 H2 |
|---|---|---|---|---|
| Credit cards | Banking and credit cards | 3.9 | 3.8 | 3.7 |
| Current accounts | Banking and credit cards | 4.2 | 3.9 | 3.8 |
| Other banking - Please provide details below | Banking and credit cards | 1.8 | 3.7 | 3.5 |
| Savings (including ISAs) | Banking and credit cards | 0.7 | 0.6 | 0.6 |
| Annuities (including enhanced and impaired) | Decumulation & pensions | 1.1 | 1.2 | 1 |
| Drawdown and UFPLS | Decumulation & pensions | 6.1 | 7.3 | 6.3 |
| Non-workplace personal pensions (e.g. SIPPs, SHPs, PPPs) | Decumulation & pensions | 2.7 | 3.7 | 3.5 |
| Other pensions | Decumulation & pensions | 0.6 | 0.5 | 0.8 |
| Pensions packaged multi products | Decumulation & pensions | |||
| Third way products (e.g. investment linked, variable, fixed term) | Decumulation & pensions | 2.5 | 1.6 | 1.9 |
| Trust based pensions (e.g. Occupational and DB) | Decumulation & pensions | 0.6 | 0.7 | 0.6 |
| Workplace personal pensions (e.g. SIPPs, SHPs, PPPs) | Decumulation & pensions | 1 | 0.9 | 0.9 |
| Equity release | Home finance | 6.7 | 8.6 | 9.1 |
| Impaired credit | Home finance | 7.9 | 6.6 | 8 |
| Other regulated home finance products | Home finance | 7 | 7.1 | 6.4 |
| Other unregulated home finance products | Home finance | 7.8 | 7 | 6.3 |
| Second and subsequent charge | Home finance | 28.1 | 27 | 26.5 |
| Assistance | Insurance & pure protection | 2.7 | 1.9 | 2.6 |
| General insurance packaged multi products | Insurance & pure protection | 1.5 | 1 | 1.2 |
| Income protection and other accident, sickness and unemployment | Insurance & pure protection | 0.3 | 1.3 | 1.6 |
| Medical/health | Insurance & pure protection | 8.3 | 9.9 | 7.3 |
| Motor & transport | Insurance & pure protection | 3.9 | 3.8 | 3.6 |
| Other general insurance | Insurance & pure protection | 1.4 | 1.7 | 1.6 |
| Other pure protection | Insurance & pure protection | 0.4 | 0.1 | 0.4 |
| Payment protection insurance | Insurance & pure protection | 0.1 | 0.1 | 0 |
| Pet | Insurance & pure protection | 4.8 | 5.1 | 5.3 |
| Property | Insurance & pure protection | 2.1 | 2.3 | 2.2 |
| Protection packaged multi products | Insurance & pure protection | 1 | 1.1 | 1.7 |
| Travel | Insurance & pure protection | 0.8 | 0.8 | 1 |
| Warranty | Insurance & pure protection | 2.4 | 2.8 | 2.5 |
| Whole of life/term assurance/critical illness | Insurance & pure protection | 0.7 | 0.8 | 0.9 |
| Crowdfunding / Peer to Peer | Investments | 0.6 | 1.8 | 0.7 |
| ETPs | Investments | 1.1 | 0.8 | 0.9 |
| Endowments | Investments | 1.3 | 1.4 | 1.3 |
| FX/CFD/Spreadbetting | Investments | 0 | 0.1 | 0.2 |
| ISAs (where investment held) | Investments | 1.7 | 1.8 | 1.5 |
| Investment bonds | Investments | 4.7 | 5 | 4.2 |
| Investment packaged multi products | Investments | 2.3 | 2.2 | 2.5 |
| Investment trusts | Investments | 12.7 | 0.5 | 52.6 |
| Other investment products/funds | Investments | 0.5 | 0.2 | 0.2 |
| Structured products | Investments | 0.6 | 4.3 | 4.7 |
| UCITS | Investments | 0.6 | 8.8 | 1 |
| Unit trusts/OEICs | Investments | 0.9 | 1.5 | 1.7 |
Find out more about the complaints data.
Disclaimer
The figures reported within this data are accurate at the time of publication and based on firm submissions. Any outcomes of this data using your calculations will remain your responsibility.
Copyright
The data on this page is available under the terms of the Open Government Licence.