Belfast Telegraph

Barclays top of league for consumer complaints

By Vicky Shaw

Financial services firms received 2.11 million new complaints between July and December 2015, marking a 1.4% fall compared with the previous six months, according to figures from the Financial Conduct Authority (FCA).

The figures also showed that Barclays was the most complained-about financial services firm in the second half of 2015, followed by Lloyds Bank, Bank of Scotland, NatWest and HSBC.

All five firms saw complaints reduce compared with the previous six months.

The overall fall in complaints was mainly driven by a 10% decrease in gripes about current accounts and a 15% fall in complaints about savings accounts, the FCA said.

But issues with payment protection insurance (PPI) increased by 6% during the period compared with the previous six months, with 932,298 new complaints recorded. PPI remains the most complained-about product, followed by current accounts, other general insurance, credit cards and savings including cash Isas.

Matt Hammerstein from Barclays said complaints helped the bank improve its service.

Belfast Telegraph