Finance firms named and shamed for poor customer service

by Property118.com News Team

15:29 PM, 28th September 2011
About 9 years ago

Finance firms named and shamed for poor customer service

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Finance firms named and shamed for poor customer service
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"Barclays are the bank with the most complaints"

The worst banks and financial services firms picked up 1.1 million customer complaints in the first six months of the year.

The figures come from name and shame data published by the Financial Services Authority (FSA).

Bottom of the list come the high street banks, courtesy of the payment protection insurance debacle that has led to them repaying customers around £13 billion in rip-off fees.

Also in the bottom 10 are credit card providers Capital One and MBNA, while British Gas sneaks in at number 10.

The bank with the most complaints is Barclays, with 251,563 customers moans. Next were Lloyds TSB stacking up 181,907 gripes and Santander with 168,888 complaints.

Altogether, 165 financial firms which picked up more than 500 complaints are listed.

They collected a total 1,761,144 customer complaints. Around 285,000 are still open.

“The FSA is committed to greater transparency where it will benefit consumers. Publishing this data brings complaints to the attention of firms and consumers alike, and gives firms a benchmark and an incentive to improve how they treat their customers and handle complaints,”said an FSA statement accompanying the data.

The complaints cover banking, insurance, credit cards, loans and mortgages


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