Finance firms attract nearly 17,000 complaints

The figures were published by the Financial Conduct Authority

Finance firms attracted nearly 17,000 complaints each working day between July and December last year. More than two million grievances were made by fed-up customers in the six months, according to the latest figures from the Financial Conduct Authority.

Total redress paid out over the period increased by 4 per cent to £2.44bn, and Barclays remained the most complained-about financial company, closely followed by Lloyds Bank and Bank of Scotland. However only HSBC – in fourth place – actually posted an increase in the number of complaints received, climbing 16 per cent from the first half of 2014.

Excluding payment protection insurance (PPI), the overall number of complaints rose by 1 per cent from the first half of 2014 and by 2 per cent compared with the second half of 2013.

However there was an 8 per cent rise in the number of complaints relating to banking and credit cards over the six months to the end of December. Meanwhile complaints about current accounts soared 22 per cent in the period.