One complaint every 12 seconds over PPI

29 February 2012

monopoly moneyBritain’s banks received an impressive 2.5million complaints last year, with customers making a complaint every 12 seconds about Lloyds, RBS, Barclays, Santander and HSBC.

The bulk of the gripes focused on insurance mis-selling and terrible service with customers of the leading five establishments making 1.37million complaints between July and December 2011, a rise of 26 per cent on the previous six months.

The big beef was the misselling of payment protection insurance (PPI) and the financial ombudsman revealed that Lloyds was most griped about. Of the complaints made to banks where original queries were rejected, the ombudsman upheld more than seven in every ten complaints. This leaves the banks guilty of seemingly trying to pull a fast one over people with legitimate grievances.

The complaints list sees Lloyds at the top, followed by Barclays, MBNA, RBS/NatWest, Santander, HSBC and Capital One. It has been reported that 87 per cent of complaints against Lloyds TSB were upheld, compared with Barclays (84 per cent), MBNA (99 per cent), RBS (93 per cent), Santander (55 per cent), HSBC (80 per cent) and Capital One (11 per cent).

Peter Vicary-Smith, chief executive of ninja consumer group Which!!! said: ‘This data is further evidence that some banks are systematically failing to treat their customers fairly when things go wrong. It is especially unacceptable that tens of thousands of consumers have been forced to take their PPI compensation claim to the ombudsman, where the overwhelming majority of complaints are then upheld.’

TOPICS:   Investments   Complaints   Banking   Debt

3 comments

  • Mary H.
    I thought it was Which?
  • MLM S.
    Things doest seem to be getting better with the current PPI situation. Lots of people out there that are due a fair bit of money that dont even know about it.
  • Connieheer
    What will happen to unresolved complaints that are over eight weeks old?

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