This page provides an overview of financial services firms' complaints reported to the FCA during 2024 H1 (1 January to 30 June 2024), 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: 2024 H1
- Opened complaints
- Closed complaints
- Complaints upheld
- Redress paid
- About the complaints data
Download the aggregate complaints data (XLSX)
Key Findings
- In 2024 H1, financial services firms received 1.86m complaints, a 4% decrease from 2023 H2 (1.94m) (Figure 1). Since complaints about Payment Protection Insurance peaked in 2020, complaints have stayed relatively constant between 1.8m and 2m.
- The product groups that experienced an increase in their complaint numbers were:
- Decumulation & pensions - up 7.1% from 86,885 (2023 H2) to 93,023 (2024 H1)
- Insurance & pure protection - up 1.4% from 754,010 (2023 H2) to 764,254 (2024 H1)
- Investments - up 2.1% from 61,513 (2023 H2) to 62,806 (2024 H1)
- The product groups that experienced a decrease in their complaint numbers were:
- Banking and credit cards - down 9.6% from 941,664 (2023 H2) to 850,948 (2024 H1)
- Home finance - down 1.7% from 94,881 (2023 H2) to 93,237 (2024 H1)
- There were decreases in the 3 most often complained about products:
- Current accounts from 515,639 in 2023 H2 to 492,557 in 2024 H1 (4.5%)
- Motor and transport from 281,148 in 2023 H2 to 276,469 in 2024 H1 (1.7%)
- Credit cards from 232,757 in 2023 H2 to 222,529 in 2024 H1 (4.4%)
- Most other products saw small increases or decreases by similar percentage amounts. The most significant changes were in:
- Investment trusts from 1,344 in 2023 H2 to 508 in 2024 H1 (62.2% decrease)
- Payment protection insurance from 2,009 in 2023 H2 to 879 in 2024 H1 (56.2% decrease)
- The percentage of complaints that were upheld by firms remained at 57% between 2023 H2 and 2024 H1.
- In 2024 H1 the total amount of redress was £243m. This is a 6.9% decrease on the 2023 H2 figure of £261m.
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.
Additionally, figures for previous years may have changed when compared to previously published figures, due to firm re-submissions.
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Table 1 – Complaints closed in the period
| All complaints | ||||
|---|---|---|---|---|
| 2022 H2 | 2023 H1 | 2023 H2 | 2024 H1 | |
| Grand Total | 1,762,488 | 1,897,745 | 1,908,234 | 1,867,396 |
| Complaints closed within 3 days | 46.44% | 45.47% | 46.00% | 43.36% |
| Complaints closed > 3 days but within 8 weeks | 47.69% | 46.89% | 48.11% | 49.70% |
| Complaints closed > 8 weeks | 5.87% | 7.64% | 5.89% | 6.93% |
Source: FCA complaints data
Table 2 – Complaints upheld, and redress paid
| 2022 H2 | 2023 H1 | 2023 H2 | 2024 H1 | |
|---|---|---|---|---|
| Closed Value | 1,762,488 | 1,897,745 | 1,908,234 | 1,867,396 |
| of which: | ||||
| Upheld Value | 1,062,065 | 1,152,395 | 1,087,703 | 1,058,971 |
| % Upheld | 60.26% | 60.72% | 57.00% | 56.71% |
| Redress Value | £228,369,824 | £236,497,546 | £261,026,831 | £243,126,190 |
| Redress paid for upheld complaints | £198,715,050 | £210,930,790 | £221,723,635 | £213,256,130 |
| Redress paid for complaints not upheld | £29,654,774 | £25,566,756 | £39,303,196 | £29,870,060 |
| Average redress upheld | £187 | £183 | £204 | £201 |
Source: FCA complaints data
Aggregate complaints data sortable tables: 2024 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 and based on firm submissions. Any outcomes of this data using your calculations will remain your responsibility.
Copyright
The data on this page is available under the terms of the Open Government Licence.