You are here: Home - Insurance - News -

No let-up in PPI complaints in three months to September

0
Written by: Paloma Kubiak
03/11/2016
Consumers continue to complain about Payment Protection Insurance (PPI) more than any other financial product, official statistics reveal.

Figures from the second quarter of 2016/17 (July – September 2016) by the Financial Ombudsman Services (FOS) have revealed it received a total of 79,534 complaints.

Over half of the new cases it took on – 42,907 – were about PPI, while complaints about packaged bank accounts (5,317) and current accounts (4,030) continued to dominate the FOS’ workload.

In total, out of all the complaints received, FOS found in favour of consumers in 45% of cases.

Comparing the latest statistics with the previous quarter, PPI complaints have fallen slightly (43,569), as have those about packaged bank accounts (7,315).

However, gripes about current accounts have etched up from the 3,789 reported in the previous quarter.

Comparing the statistics with Q2 2015/16, again PPI complaints were down (49,672), as were those about packaged accounts (10,163).

So far this financial year (April to September), FOS has received a total of 161,243 complaints.

If you believe you may have been missold PPI, see YourMoney.com’s guide to claiming PPI, especially in light of the Financial Conduct Authority’s confirmation that it will impose a June 2019 deadline.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
City watchdog outlines plans to improve current account competition

The Financial Conduct Authority (FCA) has today announced it will undertake and build on earlier recommendations to improve competition in...

Close