This page provides an overview of financial services firms' complaints reported to us during 2023 H1 (1 January to 30 June 2023), including the latest trends and analysis split by product group.
By analysing this data, we evaluate the firms' treatment of their customers and track changes in their performance over time. We also use this information to support our supervision of firms and markets, and to identify any potential concerns related to specific financial products.
- Key findings
- Aggregate complaints data sortable tables: 2023 H1
- Opened complaints
- Closed complaints
- Complaints upheld
- Redress paid
- About the complaints data
Download the aggregate complaints data (XLSX)
Key Findings
- In 2023 H1, financial services firms received 1.88m opened complaints, an increase of 5% from 2022 H2 (1.80m) (figure 1).
- The product groups that experienced an increase in their opened complaint numbers from 2022 H2 to 2023 H1 were the following: decumulation & pensions (20%), investments (18%), insurance & pure protection (6%), & banking and credit cards (3%).
- The home finance product group saw a 10% reduction in opened complaints from 101,333 (2022 H2) to 91,469 (2023 H1).
- Since 2016 H2, current accounts have remained the most complained about product. The number of current accounts opened complaints increased, from 500,371 in 2022 H2 to 509,923 in 2023 H1 (2%).
- Noticeable increases in opened complaints can be seen in the following products: motor & transport from 238,009 in 2022 H2 to 278,034 in 2023 H1 (17%), credit cards from 188,200 in 2022 H2 to 201,925 in 2023 H1 (7%), property from 86,150 in 2022 H2 to 92,091 in 2023 H1 (7%), & savings (including ISAs) from 69,373 in 2022 H2 to 85,315 in 2023 H1 (23%).
- The percentage of complaints upheld increased from 60% in 2022 H2 to 61% in 2023 H1. Excluding 2022 H2, the percentage of upheld complaints has been steadily rising since 2019 H2.
- Redress payments went up by 4% from £228m in 2022 H2 to £236m in 2023 H1, but this is 22% below the 2022 H1 figure of £304m. This year-over-year decline is largely due to a 75% decrease in the redress paid for payment protection insurance complaints, decreasing from £32m in 2022 H1 to £8m in 2023 H1.
- Home finance products have the highest figure for opened complaints per 1,000 products sold of 6.8 in both 2022 H2 & 2023 H1 (figure 2).
In 2022, we revised the product group context figure calculation methodology to reduce errors in firm reporting. Be careful when comparing data with previous years.
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Table 1.1 – All complaints closed
| 2021 H2 | 2022 H1 | 2022 H2 | 2023 H1 | |
|---|---|---|---|---|
| Total complaints closed | 1.91m | 1.91m | 1.76m | 1.90m |
| Of which: | ||||
| Complaints closed within 3 days | 49% | 51% | 47% | 46% |
| Complaints closed > 3 days but within 8 weeks | 45% | 44% | 48% | 47% |
| Complaints closed > 8 weeks | 6% | 5% | 6% | 8% |
Source: FCA complaints data
Table 1.2 – All complaints closed by product group
| Banking & credit cards | Decumulation & pensions | Home finance | Insurance & pure protection | Investments | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 H2 | 2023 H1 | 2022 H2 | 2023 H1 | 2022 H2 | 2023 H1 | 2022 H2 | 2023 H1 | 2022 H2 | 2023 H1 | |
| Total complaints closed | 823,706 | 852,140 | 72,407 | 83,258 | 96,771 | 95,311 | 719,250 | 810,258 | 48,161 | 55,517 |
| Of which: | ||||||||||
| Closed within 3 days | 52% | 52% | 26% | 23% | 30% | 32% | 46% | 44% | 28% | 25% |
| Closed > 3 days < 8 weeks | 45% | 43% | 59% | 56% | 60% | 54% | 47% | 48% | 62% | 64% |
| Closed > 8 weeks | 4% | 5% | 14% | 21% | 10% | 14% | 7% | 8% | 10% | 12% |
Source: FCA complaints data
Table 2.1 – Complaints upheld, and redress paid
| 2021 H2 | 2022 H1 | 2022 H2 | 2023 H1 | |
|---|---|---|---|---|
| Total complaints closed | 1.90m | 1.91m | 1.76m | 1.90m |
| of which: | ||||
| Upheld | 1.12m | 1.17m | 1.06m | 1.15m |
| % Upheld | 59% | 61% | 60% | 61% |
| Total redress paid | £294.8m | £304.4m | £228.1m | £236.3m |
| Redress paid for upheld complaints | £253.4m | £268.6m | £198.5m | £210.7m |
| Redress paid for complaints not upheld | £41.4m | £35.8m | £29.6m | £25.6m |
| Average redress upheld | £226 | £230 | £187 | £183 |
Source: FCA complaints data
Table 2.2 – Complaints upheld, and redress paid by product group
| Banking and credit cards | Decumulation & pensions | Home finance | Insurance & pure protection | Investments | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 H2 | 2023 H1 | 2022 H2 | 2023 H1 | 2022 H2 | 2023 H1 | 2022 H2 | 2023 H1 | 2022 H2 | 2023 H1 | |
| Closed value | 823,706 | 852,140 | 72,407 | 83,258 | 96,771 | 95,311 | 719,332 | 810,258 | 48,161 | 55,517 |
| of which: | ||||||||||
| Upheld | 483,227 | 504,436 | 46,162 | 54,209 | 57,509 | 55,223 | 447,030 | 506,281 | 25,954 | 30,815 |
| % Upheld | 59% | 59% | 64% | 65% | 59% | 58% | 62% | 62% | 54% | 56% |
| Total redress paid | £104.8m | £110.1m | £28.9m | £28.0m | £14.3m | £14.4m | £64.6m | £62.2m | £15.5m | £21.6m |
| Redress paid upheld complaints | £88.4m | £96.4m | £25.8m | £25.1m | £13.0m | £12.9m | £57.8m | £56.4m | £13.6m | £19.9m |
| Redress paid complaints not upheld | £16.4m | £13.7m | £31.3m | £2.8m | £1.3m | £1.5m | £6.8m | £5.8m | £1.9m | £1.7m |
| Average redress upheld | £183 | £191 | £558 | £464 | £226 | £234 | £129 | £111 | £522 | £645 |
Source: FCA complaints data
Aggregate complaints data sortable tables: 2023 H1
| Product | Product Group | 2023 H1 | 2023 H2 | 2024 H1 |
|---|---|---|---|---|
| Annuities (including enhanced and impaired) | Decumulation & pensions | 8,711 | 8,501 | 8,987 |
| Assistance | Insurance & pure protection | 27,518 | 26,632 | 18,125 |
| Credit cards | Banking and credit cards | 201,925 | 232,757 | 222,529 |
| Crowdfunding / Peer to Peer | Investments | 457 | 300 | 289 |
| Current accounts | Banking and credit cards | 509,923 | 515,639 | 492,557 |
| Decumulation packaged multi products | Decumulation & pensions | 0 | 2 | 0 |
| Discretionary management services | Investments | 1,175 | 2,162 | 1,404 |
| Drawdown and UFPLS | Decumulation & pensions | 6,326 | 7,008 | 9,037 |
| Endowments | Investments | 3,484 | 3,164 | 3,046 |
| Equity release | Home finance | 2,085 | 1,929 | 2,201 |
| ETPs | Investments | 204 | 327 | 303 |
| FX/CFD/Spreadbetting | Investments | 1,190 | 1,302 | 1,153 |
| General insurance packaged multi products | Insurance & pure protection | 19,726 | 19,336 | 14,864 |
| Impaired credit | Home finance | 581 | 714 | 633 |
| Income protection and other accident, sickness and unemployment | Insurance & pure protection | 3,724 | 3,728 | 4,100 |
| Investment bonds | Investments | 11,051 | 11,275 | 10,949 |
| Investment packaged multi products | Investments | 80 | 75 | 73 |
| Investment trusts | Investments | 815 | 1,344 | 508 |
| ISAs (where investment held) | Investments | 19,868 | 21,170 | 22,737 |
| Medical/health | Insurance & pure protection | 85,316 | 80,293 | 95,886 |
| Motor & transport | Insurance & pure protection | 276,994 | 281,148 | 276,469 |
| Non-discretionary management services | Investments | 974 | 727 | 903 |
| Non-workplace personal pensions (e.g. SIPPs, SHPs, PPPs) | Decumulation & pensions | 47,537 | 45,996 | 50,831 |
| Other banking - Please provide details below | Banking and credit cards | 28,159 | 73,398 | 22,084 |
| Other decumulation | Decumulation & pensions | 77 | 51 | 29 |
| Other general insurance | Insurance & pure protection | 150,740 | 118,981 | 118,527 |
| Other investment products/funds | Investments | 7,790 | 7,090 | 7,522 |
| Other pensions | Decumulation & pensions | 367 | 339 | 286 |
| Other pure protection | Insurance & pure protection | 602 | 381 | 466 |
| Other regulated home finance products | Home finance | 70,136 | 70,393 | 70,614 |
| Other unregulated home finance products | Home finance | 16,718 | 19,147 | 16,759 |
| Overdrafts | Banking and credit cards | 9,387 | 15,232 | 15,317 |
| Packaged accounts | Banking and credit cards | 12,788 | 13,461 | 15,080 |
| Payment protection insurance | Insurance & pure protection | 3,287 | 2,009 | 879 |
| Pensions packaged multi products | Decumulation & pensions | 19 | 26 | 22 |
| Pet | Insurance & pure protection | 27,847 | 26,984 | 27,888 |
| Platforms | Investments | 7,524 | 7,845 | 9,102 |
| Property | Insurance & pure protection | 92,659 | 91,893 | 100,234 |
| Protection packaged multi products | Insurance & pure protection | 887 | 509 | 553 |
| Savings (including ISAs) | Banking and credit cards | 85,315 | 91,177 | 83,380 |
| Second and subsequent charge | Home finance | 1,991 | 2,698 | 3,025 |
| Structured products | Investments | 163 | 107 | 131 |
| Third way products (e.g. investment linked, variable, fixed term) | Decumulation & pensions | 94 | 91 | 75 |
| Travel | Insurance & pure protection | 32,589 | 34,669 | 28,049 |
| Trust based pensions (e.g. Occupational and DB) | Decumulation & pensions | 8,494 | 7,122 | 7,414 |
| UCITS | Investments | 219 | 188 | 187 |
| Unit trusts/OEICs | Investments | 4,419 | 4,437 | 4,496 |
| Warranty | Insurance & pure protection | 49,885 | 43,704 | 53,577 |
| Whole of life/term assurance/critical illness | Insurance & pure protection | 27,094 | 23,672 | 24,672 |
| Workplace personal pensions (e.g. SIPPs, SHPs, PPPs) | Decumulation & pensions | 16,477 | 17,749 | 16,341 |
Complaints, contextualised by number of products.
| Product | Product Group | 2023 H1 | 2023 H2 | 2024 H1 |
|---|---|---|---|---|
| Annuities (including enhanced and impaired) | Decumulation & pensions | 1.2 | 1.1 | 1.2 |
| Assistance | Insurance & pure protection | 3.5 | 2.7 | 1.9 |
| Credit cards | Banking and credit cards | 3.6 | 3.9 | 3.8 |
| Crowdfunding / Peer to Peer | Investments | 0.8 | 0.6 | 1.8 |
| Current accounts | Banking and credit cards | 4.3 | 4.2 | 3.9 |
| Discretionary management services | Investments | 1 | 2.2 | 0.6 |
| Drawdown and UFPLS | Decumulation & pensions | 5.7 | 6.1 | 7.3 |
| Endowments | Investments | 1.4 | 1.3 | 1.4 |
| Equity release | Home finance | 5.9 | 6.7 | 8.6 |
| ETPs | Investments | 0 | 1.1 | 0.8 |
| FX/CFD/Spreadbetting | Investments | 0.1 | 0 | 0.1 |
| General insurance packaged multi products | Insurance & pure protection | 1.5 | 1.5 | 1 |
| Impaired credit | Home finance | 4.3 | 7.9 | 6.6 |
| Income protection and other accident, sickness and unemployment | Insurance & pure protection | 0.3 | 0.3 | 0.9 |
| Investment bonds | Investments | 4.3 | 4.7 | 5 |
| Investment packaged multi products | Investments | 2.9 | 2.3 | 2.2 |
| Investment trusts | Investments | 5.1 | 12.7 | 0.5 |
| ISAs (where investment held) | Investments | 1.8 | 1.7 | 1.8 |
| Medical/health | Insurance & pure protection | 8.8 | 8.3 | 9.9 |
| Motor & transport | Insurance & pure protection | 3.7 | 3.9 | 3.8 |
| Non-discretionary management services | Investments | 0.1 | 0.1 | 0.1 |
| Non-workplace personal pensions (e.g. SIPPs, SHPs, PPPs) | Decumulation & pensions | 3.2 | 2.7 | 3.7 |
| Other banking - Please provide details below | Banking and credit cards | 2.4 | 1.8 | 3.7 |
| Other general insurance | Insurance & pure protection | 2.1 | 1.4 | 1.7 |
| Other investment products/funds | Investments | 0.6 | 0.5 | 0.2 |
| Other pensions | Decumulation & pensions | 0.6 | 0.6 | 0.5 |
| Other pure protection | Insurance & pure protection | 0.3 | 0.4 | 0.1 |
| Other regulated home finance products | Home finance | 7 | 7 | 7.1 |
| Other unregulated home finance products | Home finance | 6 | 7.8 | 7 |
| Overdrafts | Banking and credit cards | 0.2 | 0.3 | 0.3 |
| Packaged accounts | Banking and credit cards | 1.7 | 1.8 | 2 |
| Payment protection insurance | Insurance & pure protection | 0.2 | 0.1 | 0.1 |
| Pensions packaged multi products | Decumulation & pensions | 1,166.70 | ||
| Pet | Insurance & pure protection | 5.6 | 4.8 | 5.1 |
| Platforms | Investments | 2 | 1.3 | 0.2 |
| Property | Insurance & pure protection | 2.2 | 2.1 | 2.3 |
| Protection packaged multi products | Insurance & pure protection | 0.5 | 1 | 1.1 |
| Savings (including ISAs) | Banking and credit cards | 0.7 | 0.7 | 0.6 |
| Second and subsequent charge | Home finance | 12.8 | 28.1 | 27 |
| Structured products | Investments | 4.6 | 0.6 | 4.3 |
| Third way products (e.g. investment linked, variable, fixed term) | Decumulation & pensions | 2.1 | 2.5 | 1.6 |
| Travel | Insurance & pure protection | 0.8 | 0.8 | 0.8 |
| Trust based pensions (e.g. Occupational and DB) | Decumulation & pensions | 0.7 | 0.6 | 0.7 |
| UCITS | Investments | 0.7 | 0.6 | 8.8 |
| Unit trusts/OEICs | Investments | 0.9 | 0.9 | 1.6 |
| Warranty | Insurance & pure protection | 2.5 | 2.4 | 2.8 |
| Whole of life/term assurance/critical illness | Insurance & pure protection | 0.9 | 0.7 | 0.8 |
| Workplace personal pensions (e.g. SIPPs, SHPs, PPPs) | Decumulation & pensions | 1 | 1 | 0.9 |
Context data
Please see about our complaints data section for information about context data.
Disclaimer
The figures reported within this data are accurate at the time of publication. However, they can be subject to change depending on firm submissions.
Copyright
The data on this page is available under the terms of the Open Government Licence.