PPI still dominates
Bank of Scotland tops complaints table
Bank of Scotland: focused on putting things right
Bank of Scotland drew more complaints than any other bank in the first half of the year.
Complaints continue to rise against about banks and insurers, dominated by payment protection insurance, according to the Financial Ombudsman Service.
Despite a closer focus on customers by all the banks, there were 13% more complaints in the first six months of the year.
Payment protection insurance or PPI, totalled 90,000 of the 170,000 total.
Bank of Scotland, part of Lloyds, received 20,541 complaints, with the 17,080 relating to PPI. Only 22% of complaints against the bank were upheld.
Lloyds itself was second, with 18,068 complaints, 14,847 about PPI. The group has so far put aside more than £18bn to compensate customers who were mis-sold PPI.
MBNA, recently acquired by Lloyds, was 10th, with 4,368 complaints, most of which were about PPI.
Lloyds Banking Group’s group customer service director, Stephen Noakes, said the bank continued to prioritise putting things right as quickly as it can, with over seven in 10 complaints resolved within three days, excluding PPI.
“Where complaints are referred to the Ombudsman they agree with our decisions in the majority of cases,” Noakes said.
Royal Bank of Scotland dropped out of the top 10 table for PPI complaints, with 1,361 new cases.
The Financial Conduct Authority (FCA) has launchd a publicity campaign last week featuring an animated head of actor Arnold Schwarzenegger to raise awareness of the August 2019 compensation deadline for mis-sold PPI policies.
The peak for the number of complaints about PPI was in 2013/14, when the Ombudsman received nearly 400,000 referrals.
The Ombudsman also received over 15,000 complaints about Barclays, the highest number for issues to do with banking or credit.