Money Complaints Huge Rise

Money Complaints Huge Rise.

The Financial Ombudsman Service (FOS) received a 15 per cent increase in complaints in the second half of 2010 compared with the first half of the year.  The FOS upheld 53 per cent of complaints in favour of consumers in the last 6 months of 2010, with the most complaints coming from customers that received an unsatisfactory response from their bank.

Lloyds Banking Group were top of the complaints list with over 22,000 complaints received.  Barclays complaints fell by 4 per cent, HSBC fell by 1 per cent, Santander total complaints dropped by 20 per cent, but RBS and NatWest complaints both rose by 41 per cent.

Payment Protection Insurance accounted for more than 50 per cent of the new complaints received by the FOS in the last 6 months of 2010.

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