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Lloyds leads FOS top 10 complaints list

Lloyds Banking Group has again emerged as the banking group with the most complaints referred to the Finanancial Ombudsman Service over a six month period.

Data from the FOS published today shows that between July 1 and December 31 last year the FOS received 20,310 complaints about Lloyds (see top 10 table below).

Lloyds also generated the most FOS complaints between January and June last year, with 37,696 complaints.

The FOS received 12,273 complaints against Barclays between July and December last year. Royal Bank of Scotland generated 6,553 complaints, Santander generated 6,202 complaints, and HSBC 6,190 complaints.

During the same period the FOS upheld 93 per cent of complaints against RBS. It also upheld 87 per cent of complaints against Lloyds TSB, 84 per cent against Barclays Bank, 80 per cent of complaints against HSBC, and 55 per cent against Santander.

Barclays generated the most payment protection insurance complaints to the FOS, with 6,975 complaints. During the same period 99 per cent of PPI cases were upheld against Barclays.

MBNA Europe Bank had 5,377 PPI complaints referred to the FOS, with 99 per cent upheld.

Capital One (Europe) had 5,057 PPI complaints, Lloyds subsidary Black Horse had 4,999 complaints, Lloyds TSB had 4,257 complaints, and HSBC had 2,813 PPI complaints.

The FOS upheld 11 per cent of PPI complaints against Capital One, 98 per cent against Black Horse, 99 per cent against Lloyds TSB, and 87 per cent against HSBC.

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Comments

There are 6 comments at the moment, we would love to hear your opinion too.

  1. With 99% uphold rates where is the TCF outcome for consumers – obviously not learning the lessons of how to deal with complaints. How can this still be the case?

  2. Just wait until RDR is up and running and there are no IFA’s to service Mr/Mrs average the FOS will be inundated with complaints from banks mis selling to meet targets

  3. Totally agree Stephen
    This is clear evidence that complaints are being turned down in the hope that a significant number will not end up with FOS
    What else does the regulator need to wake up to the fact that the banks are still sticking 2 fingers up to TCF despite all their history of misselling??
    What about all the complaints that have been turned down that didn’t go to FOS? On this evidence, surely there should be a mandatory review of these decisions?

  4. @ Stephen Yates.

    The problem is that banks suffer no major additional penalty if the FOS find against them. Essentially return of premiums plus 8% pa. interest on those premiums.

    Suggest that customers should be paid perhaps twice the premiums plus interest when the FOS upholds their complaint and also that the bank pays a similar additional amount as a fine. This might just focus their complaints handling departments.

  5. Agree with how the thread is developing.

    @ John Harding – agree that there needs to be something to dissuade the large providers using FOS as an outsourced complaints department but it needs to be finely balanced as otherwise the threat of double refund plus a fine would play into the Claims Management Companies hands.

  6. I worked with Lloyds as a Financial Adviser for 3 months and the short cuts the so called ” Buddy” you were working with, who had been hardly been in The Financial Services, advice was shocking. I have been in The Financial Services for 38 years and glad I am back self-employed giving credible advice. Cheerio Lloyds.

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