Barclays was the most complained about financial services firm between July and December last year, and upheld 44 per cent of the complaints against it over the same period.
Data from the Financial Conduct Authority, published today, reveals the bank received a total of 414,302 complaints in the second half of last year, down 6 per cent on the first half of 2012.
Overall a total of 3,422,384 were made about financial services firms over the six month period, an increase of 1 per cent on the first half of the year.
The figures relate to firms who have reported over 500 new complaints within a six month period. It covers the first stage of the complaints process where individuals refer their complaint to the business it relates to.
The Financial Ombudsman Service publishes separate data about the complaints it receives where the initial complaint has been rejected by the business.
Lloyds TSB was the second most complained about firm with 349,386 complaints. Bank of Scotland received 338,912 complaints, MBNA had 270,486 complaints and Santander received 237,923.
On investments, Santander was the most complained about firm with 2,236 complaints. It also received the most mortgage complaints, with 14,080.
Prudential was the most complained about firm for decumulation, life and pensions complaints with 7,788.
The most complained about product overall continues to be payment protection insurance, accounting for 2,170,537 complaints.
Redress payments in the second half of last year totalled £2.9bn, down from £3.2bn in the first half of the year.
FCA chief executive Martin Wheatley says: “Greater transparency drives greater competition, and the publication of the complaints data lays bare the track record of the UK’s financial institutions when it comes to resolving customer conflicts.
“When I meet with the bosses of the financial institutions they frequently tell me that they do not want to be at the top of the table, which means they strive to improve both their sales and complaints handling processes.
“Not only does our data help consumers compare and contrast their current bank or lender, but it also boosts competition among firms too.”
A Barclays spokesman says: “We continue to make substantial and sustained progress in improving service and driving down banking complaints, which were 184,000 fewer in 2012 compared to 2010.
“Despite these welcome reductions, complaint volumes are still too high and we cannot be complacent. Our sole focus is on helping our customers and getting it right so they do not feel the need to complain in the first place.”
Click here to see the FCA’s table on the top five most complained about firms