[23/03/2012] Britain’s biggest banks are receiving one complain in very 12 seconds
insurance plans, and poor services including substandard loan, mortgage, and credit card offers. The British Ombudsman received a total of 2.5 million complaints against leading five banks in 2011 and these complaints have set new records about the legitimate grievance of the consumers who are being misled at the hands of best banking sectors. According to the static, every one customer filed one complain in every 12 seconds against Lloyds, RBS, Barclays, Santander and HSBS in the previous year as majority of landlords were sent emails about poor loan and insurance services.
Figures clearly indicate that consumers submitted around 1.37 million complaints in 2011 between the period of July and December. The complaints rate against the banking sectors have been raised by 26 percent (1.08million) for the same banks as compared to last six months. Majority of complaints were made against payment protection insurance in addition to loans, credit cards, and mortgages. An additional report was published by the Financial Ombudsman Service that settled all disputes started by consumers against the bank and new report indicates that total of 106,193 were actually submitted during the period of last 6 months. An assumption is that these consumers set to file their disputes approaching the Ombudsman when their banks ignored or rejected their complaints taking any serious notice to resolve their issues. The Ombudsman believes that all five big banks are at fault in fobbing off their potential customers.
All consumers first contacted their respective bank with respect to their problem but Britain’s five bank would have had rejected their complaints completing ignoring the importance of the matter and this turned out to be serious when consumers turned to the ombudsman for getting their matters resolved independently.
Lloyds received more complaints with 20,310 as compared to Barclays who topped the list with a total of 12,773 disputed, after it MBNA is on the third position with 9,903 complaints and RBS/NatWest comes next on the list with a colossal complaint number of 6,553. At the end,
Comparison was conducted on the total complaints that cleared out figures as Lloyds on the top of the consumer complaint chart getting eight seven percent more complains from Barclays which received 84 percent. MBNA with 99 percent complaints is ahead of RBS with only 8 percent as RBS has 93 percent complaints on the chart. HSBC received 25 % more complaints than
Halifax and Bank of Scotland are said to have an increase in the number of complaints by forty percent, majority of complaints was made in the last six months. For every one thousand bank account, around 1.5 consumers filed complaints. Taking into considerations the present banking scenario, it’s very clear that banks have been totally failed in providing honest services to their consumers in a professional manner. It is sad that thousand of customers head to the British Ombudsman for getting compensation for the mis-sold insurance, mortgage and credit card policies. Banks could not treat their consumers in a fair way and their unfair practices have given rise to the number of complaints in the reports.
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