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Bank Complaints still at astronomical levels

Recent figures show that UK banks still haven’t got their acts together with almost 150,000 complaints made against the 10 most complained about banks in the first half of the year.

Our banks and lenders will have us believe that they are getting their house in order, but these statistics don’t lie.

With an average of one complaint being made every 30 seconds it’s clear the banks are continuing to let the British public down in almost every area possible.

The top 10 worst offenders

It comes as no surprise to see the following banks safely tucked into the top 10 positions of worst banks:

Lloyds Banking Group (including Halifax, Bank of Scotland, Blackhorse) – 62,132 complaints
Barclays (including Barclaycard) – 27,487 complaints
Royal Bank of Scotland (including Natwest) – 13,654 complaints
HSBC (including HFC, First Direct) – 13,240 complaints
Santander (including Abbey, Alliance & Leicester) – 8,569 complaints
Bank of America (including MBNA) – 7,980 complaints
Capital One – 5,303 complaints
Nationwide – 4,983 complaints
National Australia Group (including Clydesdale Bank, Yorkshire Bank) – 2,666 complaints
Citibank – 1,930 complaints

These banks and lenders have proven time after time that they cannot be trusted to look after our finances, and are far too concerned with lining the pockets of their shareholders, rather than looking after the best interests of it’s customers.

Most complained about products

Sorry, there are no prizes for guessing that the most complained about product STILL, is Payment Protection Insurance (PPI). Although there has been a slight fall in the number of complaints made about PPI, it still accounts for approximately 70% of the total number of complaints made.

We cannot foresee this changing anytime soon, given the fact that our estimations suggest there are still 7 million people who have yet to come forward with a complaint about their mis-sold PPI, many of them still unaware they’re been sold the product.

However, there is a new kid on the block, so to speak. Mis-sold Packaged Bank Account complaints are rising steadily and we believe this is the new big mis-selling scandal and will soon be in the news as much as PPI.

Trust lost

It’s clear that we cannot trust the banking system, it’s broken beyond repair and will remain that way until such time as the Financial Conduct Authority starts to hit these banks with proper fines, rather than fines that have little impact or deterrent factor.

Could you be one of the 7 million yet to claim? Your Money Claim can carry out the checks and work on your behalf to get the compensation you deserve if you’ve been mis-sold PPI or mis-sold a Packaged Bank Account.

Contact Your Money Claim today, we’re here to answer your questions, and fight your corner.

Bank Complaints

Bank Complaints

About the author

Daniel Lee

Company Director

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