Complaints Data

Our customers are at the heart of our business and we strive to put them first in all we do.

Whilst we are proud of our record of high customer advocacy and recognition by external commentators, we also recognise that sometimes things can go wrong. When it does, we encourage our customers to tell us and we try to put things right as quickly as possible. The feedback we receive from our customers is invaluable and it helps us to shape the way we do things in the future.

Every six months we submit information to the Financial Conduct Authority (FCA) about the complaints we've received from our customers. The information includes details of the number of complaints we receive, how many we've closed and how many we've upheld – found in favour of the customer.

Changes to complaints regulation

In July 2015 the FCA published their policy statement "PS15/19 Improving Complaint Handling, feedback on CP14/30 and final rules".  There were a number of key changes that the Bank had to implement with effect from 30 June 2016.

  • Historically, complaints that were resolved by close of business the next business day did not require a final response letter and were not reportable to the FCA.  In order to help customer complaints be resolved more quickly the FCA has extended the period of time firms have to resolve complaints informally.  Firms now have until the close of three business days after the date of receipt.
  • For those complaints resolved less formally, and where the complaint meets the FCA complaint definition, firms must now issue a ‘summary resolution communication’.  This  letter must provide the right to refer to the Financial Ombudsman Service; previously these rights were only issued within a final written response.
  • At the same time to support transparency, the FCA also changed their reporting rules which means that all complaints that meet the FCA complaint definition are now reportable.  As a result of this complaint volumes will appear to increase across the industry.