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