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Banks top complaints league table but Hargreaves Lansdown sees surge

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Biggest banks receive thousands of calls and emails a day from disgruntled consumers

 

Customers made 2.5 million complaints against financial companies in the second half of 2013, with the biggest banks receiving thousands of calls and emails a day from disgruntled consumers. Barclays topped the list, racking up 309,494 new complaints over the six-month period, which equates to 1,695 a day. Lloyds Bank came second, receiving 256,656 complaints, while Bank of Scotland and National Westminster also feature in the top five complained-about firms.

 

But complaints about financial firms on the whole have fallen by 15pc, figures from the Financial Conduct Authority (FCA) show. In the first half of 2012 a total of 2.9 million complaints were made. Complaints about Barclays fell by 17pc, Lloyds Bank posted a small 1pc increase, while Bank of Scotland and NatWest both reported decreases, of 18pc and 5pc respectively.

 

The reason for the fall is a heavy decline in the number of complaints about the mis-selling of payment protection insurance (PPI). A total of 1.4 million PPI complaints were made, a fall of 22pc on the previous six months. But PPI still accounted for 56pc of all complaints.

 

More: http://www.telegraph.co.uk/finance/personalfinance/consumertips/banking/10754355/Banks-top-complaints-league-table-but-Hargreaves-Lansdown-sees-surge.html


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