ombudsman publishes complaints data on individual financial businesses

[EXC]

http://www.financial-ombudsman.org.u...an-Jun-09.html

15 September 2009

Following a year of extensive public consultation and planning, the Financial Ombudsman Service today makes available for the first time a range of complaints data relating to individually named financial businesses – including banks, insurance companies and investment firms.
The data includes the number of complaints received about individual businesses – and the percentage of complaints upheld by the ombudsman service in favour of consumers.

The data published today on the ombudsman's website covers consumer complaints handled by the ombudsman service between 1 January and 30 June 2009. During this six-month period, the ombudsman service received a total of 69,841 new complaints – of which 87% related to 142 financial businesses (out of more than 100,000 businesses covered by the ombudsman).

The number of new complaints about each of these individual businesses ranged from 31 to 8,283. Five banking groups each had more than 3,000 complaints which together accounted for 38,286 cases – over half of all the new complaints received by the ombudsman during this six-month period.

The number of new complaints against each business is likely to be affected by the business size. However, experts consulted by the ombudsman have been unable so far to agree how size (or market share) should be taken into account, when comparing complaints statistics across the financial services sector.

The data published today shows that the ombudsman service upheld an average of 59% of complaints in favour of consumers. Across the 142 individual businesses included in the complaints data, this uphold rate varied substantially between 11% and 95%.

The ombudsman service upheld 61% of banking-related complaints, 41% of mortgage complaints, 70% of general-insurance complaints and 42% of investment-related complaints.

[Amethyst]

Re: ombudsman publishes complaints data on individual financial businesses

lol I only emailed them yesterday to ask when they were publishing it, had in my head was 22nd, but yeyy. Will have a nosey

[Amethyst]

Re: ombudsman publishes complaints data on individual financial businesses

number and outcome of complaints to the ombudsman – showing individual financial businesses

Our data on the number and outcome of complaints shows both good and bad complaints handling by the 142 financial businesses that together made up 90% of the ombudsman service's workload over the six-month period from 1 January to 30 June 2009.
Our complaints data about these financial businesses is listed on our website under the official name by which each business is regulated. If the financial business was part of a larger financial group, we show that as well. But they may also operate under different trading names (or brands).
You can check here to see if the name you are looking for is a trading name (or brand) – which means any complaints data might be listed under a different business name.



blimey - LLOYDS HAS A LOT !

hmmmm to work out whos good and who's not really need to know their customer base size.

30 million current account customers with Lloyds - complaints 6947
Abbey has 18 million UK and expatriate customers - complaints 2493
12 million current accounts customers at Barclays - complaints - 8283

[EXC]

Re: ombudsman publishes complaints data on individual financial businesses

Black Horse must be the worst. A staggering 95% of complaints to the FOS were upheld.

[Amethyst]

Re: ombudsman publishes complaints data on individual financial businesses

black horse are terrible, nice to have the proof !

Is PPI under general insurance ?

bbc

Banks identified over complaints


Walter Merricks called for improved complaints handling by financial firms

The top five High Street banks accounted for more than half the complaints dealt with this year by the Financial Ombudsman Service (FOS).
The FOS deals with complaints from customers in the financial services industry if firms are unable to settle them themselves.
The FOS upheld an average of 59% of all complaints in the first half of 2009.
The UK's largest five banking firms are Lloyds Banking Group, Barclays, Royal Bank of Scotland, Abbey and HSBC.
The FOS said it was publicising the names of individual firms to force them to resolve more complaints themselves.
"We have already been providing comparative complaints data on a private basis to the larger financial businesses - but this has led to no improvement in the standard of complaints handling by the worse-performing businesses," said Walter Merricks, the outgoing chief ombudsman.
"Putting this information into the open will now give those worse-performing businesses vital encouragement to improve - which should mean fewer of their customers having to bring complaints to the ombudsman that should already have been resolved," he added.
Upheld
In the first half of this year the FOS received almost 70,000 complaints, nearly 90% of which had been generated by customers of just 142 businesses out of the 100,000 the FOS covers.
Only a tiny proportion of complaints are referred to the FOS


HSBC

Each of the five High Street banks had more than 3,000 complaints against them, with Barclays accounting for the most with 8,283.
Together those five businesses accounted for 38,000 complaints.
The Ombudsman acknowledged that as these banks each have millions of customers they are likely to have most complaints.
But the FOS highlighted the very high level of complaints that it had upheld.
Regarding bank accounts and loans, an average of 61% of complaints were upheld.
Among the worst offenders were CitiFinancial (88%), Capital One (87%), Egg (78%), Abbey National (71%), Alliance & Leicester (70%), Bank of Ireland (68%), Citibank (68%), Barclays (67%), American Express (64%), and PayPal (64%).
HSBC (59%), Lloyds (54%), NatWest (54%), and RBS (55%) were below average for complaints upheld.
An even higher percentage of general insurance complaints, 70%, were settled in the customers favour.
The highest levels were against Egg (99%), MBNA (99%), Black Horse (99%), Firstplus (99%), Capital One (98%), Lloyds TSB (98%), Northern Rock (98%), Co-op bank (97%), Tesco (97%), HFC, part of Barclays (96%), RBS (94%), Barclays (93%), NatWest (89%), Clydesdale bank (81%), and HSBC (79%).
Scandal?
Earlier this year the FOS accused many firms of being deliberately unhelpful to people who complained about poor service, to fob them off rather than deal with their complaints properly.
How many more people have given up on the way?


Marc Gander, CAG

"Naming and shaming these companies is a victory for consumers but humiliating for the industry, who have had five years to get their houses in order," said Which? chief executive, Peter Vicary-Smith.
"Over half of the complaints to FOS are upheld in favour of the consumer; they should have been dealt with by providers' internal procedures before reaching that point," he said.
Lloyds TSB said the "vast majority" of its 30 million customers were satisfied with its service .
"This is reflected in the low number of complaints we receive in relation to the high number of customer accounts we hold," the bank said.
"We take all customer complaints very seriously and encourage customers to contact us directly should they have a concern about one of our products or the service we provide."
HSBC had a similar message.
"We resolve the vast majority of issues for our customers within 48 hours," said a spokesman.
"Only a tiny proportion of complaints are referred to the FOS and we are working hard to reduce this even further," he added.
But Marc Gander of the Consumer Action Group was unimpressed.
"It is a scandal. How many more people have given up on the way?" he asked.
Millions of complaints
Two weeks ago the Financial Services Authority (FSA) revealed the huge scale of complaints that have built up in the financial services industry.
More than nine million individual complaints were made to financial firms in the 2006-2008 period, and more than half of them were about banking and loans.
The rising numbers have been driven by a huge increase in complaints about bank overdraft charges, and about the mis-selling of payment protection insurance and mortgage endowments.
During the second half of 2008, 40% of complaints were being settled by firms in their customers' favour, the FSA found.

[Amethyst]

Re: ombudsman publishes complaints data on individual financial businesses

PPI and credit card charges complaints have upp'd figures for a lot of these, and most of these with the mass of evidence that the products were missold (PPI) and the OFT report that the charges were unfair (credit card charges) I'd expect a vast majority of these complaints should have been resolved before even reaching the ombudsman.



Black Horse, Egg, FirstPlus and MBNA has 99% of complaints about insurance products upheld.

Banking and Credit complaints - Citi, Cap One, Shop Direct, Santander & Egg top the table.


Some other interesting ones I think;

Complaints upheld in favour of the consumer

Black Horse Limited - Lloyds - 95% of 1009 cases (99% of insurance complaints upheld)

Loans.co.uk Ltd - Loans.co.uk - 93% of 220 cases (all cases were insurance complaints)

Welcome Financial Services Limited Welcome 80% of 1044 (80% of those were complaints about insurance of which 91% were upheld)

Nemo Personal Finance Limited NEMO 71% (93% of insurance complaints upheld)

[enaid]

Re: ombudsman publishes complaints data on individual financial businesses

Martin has been on this morning and he really was losing his temper over it lol

[Amethyst]

Re: ombudsman publishes complaints data on individual financial businesses

1,476,183 complaints to firms in second half of 2008 (FSA figures)

only 60,573 of complaints in first half 2009 reached Financial Ombudsman (71% resolved in favour of consumer)

assuming complaints to firms was about the same, thats a heck of a lot resolved at the firm or let drop.

[Amethyst]

Re: ombudsman publishes complaints data on individual financial businesses

lol I do love Martin when he gets all hot and bothered.

[enaid]

Re: ombudsman publishes complaints data on individual financial businesses

lol I do love Martin when he gets all hot and bothered.

He very nearly bursted outa his shirt, lol

[Amethyst]

Re: ombudsman publishes complaints data on individual financial businesses

This is easier to get an overview

Upheld complaints % & Total number of Complaints.

[Sapphire]

Re: ombudsman publishes complaints data on individual financial businesses

Perhaps now this is out, the banks might start to see sense and deal with complaints etc fairly and stop dragging everything out. Even more they could start paying back the charges...........
Hey I can dream can't I ?

[enaid]

Re: ombudsman publishes complaints data on individual financial businesses

Lloyds and Barclays stand out a mile and for high St banks their figures are disgusting imo

[Amethyst]

Re: ombudsman publishes complaints data on individual financial businesses

Think certain forums with this opinion

''For the most part, don't bother.
The Ombudsman is an industry arranged service which is under-resourced, takes too long, lacks clear transparency.
The FOS is the preferred complaints route for the banking industry.
The county court is to be preferred by consumers for its speed, openness, the quality of its awards and also because it will award 8% interest on top of any damages won by you."



might be changing their mind ?

Don't think a 71% uphold rate (and 90% odd for PPI) is really showing them to be in favour of the banks.

In the BBC article they complain that many people fall by the wayside before going to the FOS -

How many more people have given up on the way?


Marc Gander, CAG

hardly suprising when they are being told constantly they are a waste of time.

[EXC]

Re: ombudsman publishes complaints data on individual financial businesses

hardly suprising when they are being told constantly they are a waste of time.

Not much.

Personally I think his problem must be hereditary. I'm absolutely convinced that somehow he lacks the gene that's responsible for grasping the concept of irony.