Which? executive director Richard Lloyd said:
“Our own research confirms that there are far too many occasions when banks are giving huge numbers of their customers cause for complaint, and when people do complain they often find they get let down a second time.
“Naming and shaming banks is a useful wake up call that encourages them to improve, but the regulator must also take action to ensure that they sort out their complaints handling, learn from the mistakes of the past and put customers first, not sales.”
1. Which? wants to see the FCA change the way it publishes complaints to increase transparency and show the breakdown of complaints by product type, or complaint type. This will allow consumers to more easily compare banks.
2. Our research found that a fifth of complaints about current accounts are not dealt with satisfactorily by banks, according to their customers. Populus, on behalf of Which, interview 2,029 UK adults online between 22nd and 24th February 2013.