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Lloyds receives highest number of complaints, say FSA

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by Kay Mitchell

Banking giant Lloyds has received the highest number of complaints in the first half of 2010 with 288,717 gripes.

Figures from City regulator, the Financial Services Authority (FSA), said Barclays and Santander were second and third in the complaints league, with 250,667 and 244,978 complaints respectively.

The Royal Bank of Scotland (RBS), which like Lloyds is partly-owned by the taxpayer, received 142,688 complaints, while HSBC faced 81,271 complaints.

However, Lloyds defended the high level of complaints and said, on average, they came from less than 1% of their 30 million customers.

A spokesperson for Lloyds said: “Our relationship with our customers is at the heart of our business and we take all feedback very seriously. Like every organisation we know there are areas where we can improve and we are working with our customers to do just that.

“The vast majority are happy with the service we provide and this is reflected in the low number of complaints we receive relative to the high number of accounts our customers hold,” added Lloyds.

Meanwhile, the FSA also published the proportion of complaints which were dealt with within an eight-week period.

Lloyds TSB secured a completion rate of 97% for customers, while Barclays dealt with 91% of cases within eight weeks.

However, Santander closed only 46% of complaints within the period.

Commenting on the figures, the British Bankers’ Association said: “The larger the bank is the more complaints it is statistically likely to receive and, with more than 140 million bank accounts in the UK and billions of transactions a year, there will inevitably be instances when things go wrong.”

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News posted: September 30, 2010

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