So who’s the most complained about bank?

17 October 2013

BankIt’s not Santander! New figures released by the Financial Conduct Authority show that the most complained about bank between January and June 2013 was actually Barclays. Santander didn't even come second, although they are in the top (bottom?) five.

The full details from the FCA reveal that 2.9 million consumer complaints were made to financial services firms during the first half of this year, which although high, is down by around half a million complaints from the previous six months. The second half of 2012 saw the highest number of complaints since records began being released in 2006.

The top five complained-about providers, who account for 44% of the total are as follows:

Barclays Bank Plc – opened 370,733 complaints (a fall of 11% since the second half of 2012). Of these 90% were closed in eight weeks, and 62% of closed complaints were upheld by the firm.

Lloyds TSB Bank Plc – opened 253,735 complaints (a fall of 27% since the second half of 2012). Of these, 90% were closed in eight weeks, and 62% of closed complaints were upheld by the firm.

MBNA Limited – opened 237,103 complaints (a fall of 12% since the second half of 2012). Of these, 93% were closed in eight weeks, and 36% of closed complaints were upheld by the firm.

Bank of Scotland Plc – opened 222,249 complaints (a fall of 34% since the second half of 2012). Of these, 97% were closed in eight weeks, and 45% of closed complaints were upheld by the firm.

Santander UK Plc - opened 198,736 complaints (a fall of 16% since the second half of 2012). Of these, 83% were closed in eight weeks, and 43% of closed complaints were upheld by the firm.

The things complained about were, unsurprisingly, topped by PPI.

Payment protection insurance (PPI) – 1,786,626 complaints opened (61% of new complaints).

Other general insurance – 313,860 complaints opened (11% of new complaints).

Current accounts - 280,711 complaints opened (10% of new complaints).

Credit cards – 164,134 complaints opened (6% of new complaints).

Savings (including cash ISAs) and other banking products – 97,733 complaints opened (3% of new complaints).

Our friends over at Which! were pleased to hear about the falls in complaints, but highlighted the fact that banks only have to report complaints which have not been resolved by close of business on the working day after they are received. Also, complaints to the Financial Ombudsman Service, where complaints fail to be resolved with the banks directly, were up by 179% in the first quarter of the financial year 2013/14 from the same period last year, with 159,197 new complaints lodged.

So does your bank take good care of you or is it just better at clearing complaints inside two days?

TOPICS:   Debt   Banking

9 comments

  • Chewie
    Complanied? You utter, utter, fucking morons.
  • Harold
    Utter ends of a bell
  • Richard
    Pure complaints numbers are fairly meaningless though because the banks are going to have different numbers of customers. I reckon that Barclays probably have a larger number of customers than some of the other guys on that list so the fact that they have more complaints is expected. You'd have to look at complaints per 1000 customers etc. to get a true picture
  • Lewis W.
    @Richard Logic doesn't equal a sensationalist headline unfortunately.
  • shiftynifty
    What about the Bank of Mum and Dad...surely they get loads of complaints...
  • Anon
    Having had the misfortune of working for Santander in the past, it was more hassle than it was worth to log a complaint so I dont believe the figures are accurate. Every customer I served I had to start with an apology for the random screw-up the bank had managed to invent that day for the unlucky punters' accounts. I will not believe any figures that dont list Santander as the worst offender.
  • PPI S.
    [...] in first half – FCAReuters UKComplaints to financial service firms fall 15%Herald ScotlandSo who's the most complained about bank?BitterwalletEveryInvestor -Jordans Limited (press release) -Businessweekall 114 news [...]
  • jokester2
    All the banks are thieving bastards that charge ridiculously high fees for doing fuck all, despite the fact that a bank can be highly profitable and successful without doing this.... Credit card companies are the same - although they generally be even more profitable. And don't get me started on those lying, thieving bastards known as insurance companies... "You want to cancel on the 15th day of your 365 day £1000 policy? OK, we'll give you a refund of 50p. See our FCA-approved terms and conditions (which don't fucking mention most of their bullshit cancellation fees)"
  • jokester2
    ^^ oops. missed out the "can" from the second paragraph :S

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