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(London.CityRegions.com, April 21, 2013 ) Crawley,England -- According to the latest data from the FCA regarding customer complaints to the financial services firms, Santander UK was the worst in the field.
The regulator's study examined the complaints delivered to it concerning the financial services firms from July to December of last year. Within that period over 3,422,000 customers made
concerns and frustrations known.
A tally of 1% of consumers made complaints to the FCA within the six-month period in question. Of all the firms, the top five were: Barclays Bank Plc with 414,302 complaints; Lloyds TSB Bank Plc with 349,386; Bank of Scotland Plc with 338,912; MBNA Limited with 270,486; and Santander UK Plc with 237,973 total complaints.
Santander, while with the lowest total, also had the lowest decrease since the last numbers taken, dropping the total by only 1%. When one considers the individual sectors of banks' offerings, Santander UK were the most unsatisfactory firm within home finances. It accumulated an FCA log of 14,080 complaints that mentioned the bank. Bank of Scotland had only 8,628,
while Barclays had 5,257, all told.
Santader was also caused the most concern amongst customers with 125,451, while Barclays came in second with 118,031.
National Westminster Bank Plc answered over 81,500 worried customers, with HSBC having only 64,050 all told.
Complaints about payment protection insurance (PPIs) were at the top of the FCA's table, with over 2.2 million concerned customers trying to contact Authority, which is a 5% increase on the totals taken in the first half of last year. Current accounts caused 304,196 complaints, which constitutes a 6% decrease on the first half of 2012.
Complaints for all financial product types decreased overall, however, there was the exception of 'general insurance and pure protection' products, which increased by 5% overall.
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Source: EmailWire.Com
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