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Barclays tops FCA complaints data


Barclays was the most complained about financial services firm between July and December last year, with complaints against the firm up by almost 50 per cent. 

Data from the Financial Conduct Authority, published this week, reveals the bank received 414,302 complaints in the second half of last year, up 47 per cent from 281,484 in the same period for 2011. Barclays upheld 44 per cent of the complaints, down from 59 per cent in 2011.

Overall, 3.4 million complaints were made about financial services firms over the six month period, an increase of 52 per cent on the 2.3 million complaints recorded in the second half of 2011.

The figures relate to firms that have reported over 500 new complaints within a six month period. The Financial Ombudsman Service publishes separate data about the complaints it receives.

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.

Lloyds upheld 46 per cent of its complaints during the period. Bank of Scotland upheld 50 per cent of complaints, MBNA upheld 26 per cent and Santander upheld 49 per cent.

The most complained about product overall was payment protection insurance, accounting for 2.2 million complaints.

A Barclays spokesman says the bank is making progress in driving down complaints and is focusing on getting things right the first time around so that consumers do not feel the need to complain.

Hudson Green & Associates principal Ian Hudson says: “It is a not a good sign that complaints are up, as either people are more keen to complain or the banks are not improving.”



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