This page provides an overview of financial services firms' complaints reported to the FCA during 2023 H2 (1 July to 31 December 2023), including the latest trends and analysis 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 guide 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 H2
- Opened complaints
- Closed complaints
- Complaints upheld
- Redress paid
- About the complaints data
Download the aggregate complaints data (XLSX)
Key Findings
- In 2023 H2, financial services firms received 1.87m complaints, a decrease of 1% from 2023 H1 (1.89m) (figure 1). Since the Payment Protection Insurance (PPI) peak in 2020, complaints have stayed relatively constant between 1.8m and 2m.
- The product groups that experienced an increase in their complaint numbers were:
- banking and credit cards - up 3.2% from 847,497 (2023 H1) to 874,568 (2023 H2)
- home finance - up 3.7% from 91,470 (2023 H1) to 94,822 (2023 H2)
- investments - up 3.4% from 59,417 (2023 H1) to 61,446 (2023 H2)
- The product groups that experienced a decrease in their complaint numbers were:
- decumulation & pensions - down 2.8% from 88,058 (2023 H1) to 85,547 (2023 H2)
- insurance & pure protection - down 5.8% from 800,253 (2023 H1) to 753,192 (2023 H2)
- There were increases in the biggest 3 products to be complained about:
- current accounts up 1% from 509,923 in 2023 H1 to 515,336 in 2023 H2
- motor and transport up 1% from 278,148 in 2023 H1 to 281,082 in 2023 H2
- credit cards up 7.5% from 201,925 in 2023 H1 to 217,032 in 2023 H2 which follows recent fluctuation trends
- Most other products saw a decrease in number of complaints.
- The percentage of complaints upheld decreased from 61% in 2023 H1 to 58% in 2023 H2.
In 2023 H2 the total amount of redress was £259m. This is 10% higher than 2023 H1 (£236m).
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 – Complaints closed in the period
|
All Complaints |
||||
|---|---|---|---|---|
|
2022 H1 |
2022 H2 |
2023 H1 |
2023 H2 |
|
|
Grand Total |
1,912,296 |
1,762,998 |
1,898,858 |
1,840,026 |
|
Complaints closed within 3 days |
51.05% |
46.46% |
45.51% |
44.85% |
|
Complaints closed > 3 days but within 8 weeks |
43.69% |
47.67% |
46.85% |
49.05% |
|
Complaints closed > 8 weeks |
5.25% |
5.87% |
7.63% |
6.11% |
Source: FCA complaints data
Table 2 – Complaints upheld, and redress paid
| 2022 H1 | 2022 H2 | 2023 H1 | 2023 H2 | |
|---|---|---|---|---|
| Total complaints closed |
1,912,296 |
1,762,999 |
1,898,858 |
1,908,086 |
| of which: | ||||
| Upheld value |
1,171,512 |
1,062,185 |
1,152,346 |
1,087,639 |
| % Upheld | 61.26% | 60.25% | 60.69% | 57.00% |
| Total redress paid |
£304,626,005 |
£228,372,277 |
£236,495,402 |
£260,265,619 |
| Redress paid for upheld complaints |
£268,760,278 |
£198,717,637 |
£210,925,064 |
£220,962,456 |
| Redress paid for complaints not upheld |
£35,865,727 |
£29,654,640 |
£25,570,338 |
£39,303,163 |
| Average redress upheld | £229 | £187 | £183 | £203 |
Source: FCA complaints data
Aggregate complaints data sortable tables: 2023 H2
| 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.