Barclays tops FSA rankings for bank complaints

Barclays Bank has become Britain's most complained about finance brand, grabbing the title from Spanish-owned Santander. According to figures issued yesterday by the Financial Services Authority, there were nearly 10,000 complaints a day about finance institutions in the last six months of 2010, with Barclays attracting 276,315 new complaints.

The bank had 205,151 banking complaints in the second half of the year, a rise of 5 per cent over the first half. Antony Jenkins, the chief executive of Barclays Global Retail Banking, said: "We are working hard to identify the root causes of our complaints and put in place solutions to permanently fix the problems, reducing or removing the need for our customers to complain."

He admitted that a key cause of complaint received by the bank had been about the lengthy time it takes to replace a debit card. "A dedicated programme of activity has reduced this from five days to 48 hours," Mr Jenkins claimed.

"A significant number of complaints" were also received about delays in changing customers' account details on the bank's system. Mr Jenkins said the process has been improved. Barclays also attracted 59,000 insurance complaints, with the remainder concerning home finance, pensions and investments.

Banks once again made up the top five most-complained about finance firms. Santander took second spot, although it saw the number of complaints it received fall to 195,475. Meanwhile Lloyds TSB had 175,892 complaints during the six-month period, Bank of Scotland (owned by Lloyds) 123,477 and Royal Bank of Scotland (under its NatWest brand) 118,765.

The figures show that banks fail to treat customers properly, according to Oliver Morgans, financial services expert at the government-funded watchdog Consumer Focus. "The spotlight has been on profits and bonuses, but today's figures indicate something is very wrong not just with customer service but with how financial products are designed and sold. The unnecessary complexity of many accounts, policies and fees often leads to customers getting a raw deal," Mr Morgans said.

Across the financial services industry the number of people complaining climed 3 per cent to more than 1.7 million. Within that, there was a 37 per cent increase in complaints about insurance to 710,000.

Sales of payment protection insurance continued to attract the bulk of complaints but the figure came as no surprise to Which? chief executive Peter Vicary-Smith. "A 63 per cent increase in the number of PPI complaints shows the widespread mis-selling that's been going on for years," he said. "With almost half a million PPI complaints made in six months, the industry has to stop trying to wriggle out of its responsibility to customers."

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Sales Executive / Foreign Exchange Dealer - OTE £40,000+

£16000 - £40000 per annum: Recruitment Genius: A Foreign Exchange Dealer is re...

SThree: Experienced Recruitment Consultant

£20000 - £40000 per annum + OTE + Incentives + Benefits: SThree: Established f...

SThree: Trainee Recruitment Consultant

£20000 - £25000 per annum + OTE 40/45k + INCENTIVES + BENEFITS: SThree: The su...

Recruitment Genius: Collections Agent

£14000 - £16000 per annum: Recruitment Genius: This company was established in...

Day In a Page

The long walk west: they fled war in Syria, only to get held up in Hungary – now hundreds of refugees have set off on foot for Austria

They fled war in Syria...

...only to get stuck and sidetracked in Hungary
From The Prisoner to Mad Men, elaborate title sequences are one of the keys to a great TV series

Title sequences: From The Prisoner to Mad Men

Elaborate title sequences are one of the keys to a great TV series. But why does the art form have such a chequered history?
Giorgio Armani Beauty's fabric-inspired foundations: Get back to basics this autumn

Giorgio Armani Beauty's foundations

Sumptuous fabrics meet luscious cosmetics for this elegant look
From stowaways to Operation Stack: Life in a transcontinental lorry cab

Life from the inside of a trucker's cab

From stowaways to Operation Stack, it's a challenging time to be a trucker heading to and from the Continent
Kelis interview: The songwriter and sauce-maker on cooking for Pharrell and crying over potatoes

Kelis interview

The singer and sauce-maker on cooking for Pharrell
Refugee crisis: David Cameron lowered the flag for the dead king of Saudi Arabia - will he do the same honour for little Aylan Kurdi?

Cameron lowered the flag for the dead king of Saudi Arabia...

But will he do the same honour for little Aylan Kurdi, asks Robert Fisk
Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Humanity must be at the heart of politics, says Jeremy Corbyn
Joe Biden's 'tease tour': Could the US Vice-President be testing the water for a presidential run?

Joe Biden's 'tease tour'

Could the US Vice-President be testing the water for a presidential run?
Britain's 24-hour culture: With the 'leisured society' a distant dream we're working longer and less regular hours than ever

Britain's 24-hour culture

With the 'leisured society' a distant dream we're working longer and less regular hours than ever
Diplomacy board game: Treachery is the way to win - which makes it just like the real thing

The addictive nature of Diplomacy

Bullying, betrayal, aggression – it may be just a board game, but the family that plays Diplomacy may never look at each other in the same way again
Lady Chatterley's Lover: Racy underwear for fans of DH Lawrence's equally racy tome

Fashion: Ooh, Lady Chatterley!

Take inspiration from DH Lawrence's racy tome with equally racy underwear
8 best children's clocks

Tick-tock: 8 best children's clocks

Whether you’re teaching them to tell the time or putting the finishing touches to a nursery, there’s a ticker for that
Charlie Austin: Queens Park Rangers striker says ‘If the move is not right, I’m not going’

Charlie Austin: ‘If the move is not right, I’m not going’

After hitting 18 goals in the Premier League last season, the QPR striker was the great non-deal of transfer deadline day. But he says he'd preferred another shot at promotion
Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea