Consumers get 9 out of 10 complaints from TSB after a shameful summer

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TSB angry clients who experienced a series of bankruptcies at the bank last year complained to the Financial Ombudsman (Fos) by the thousands – the vast majority of them having been compensated.

The bank appears in the gallery of rogues of the most criticized financial companies, which counts today, complaints from July to the end of 2018.

Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" During this time, users were confronted with computer problems , TSB General Manager Paul Pester was forced to admit put the lender "kneeling"before retiring from the fiasco. "data-reactid =" 28 "> At the time when consumers were victims of computer problems, TSB General Manager Paul Pester had been forced to admit that he had put the lender "on his knees" he resigned on the fiasco.

<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In six months, 4,849 customers have complained to the bank on its current account service, an increase of nearly 200% in the period preceding the botched computer upgrade. "data-reactid =" 29 "> In six months, 4,849 customers complained about its current account service at the bank, which represents an increase of nearly 200% over the period preceding the botched upgrade of IT.

The Fos ruled in favor of TSB current account holders and paid them 93% of the time. This rate is three times higher than for other comparable banks.

To bring a case before the FOS, consumers must first complain to the financial services company to give them the opportunity to right the wrong. If he refuses to do so, the client can, after eight weeks, ask the ombudsman to intervene.

<p class = "canvas-atom web-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The surprisingly high maintenance rate suggests in many cases the TSB could have resolved the complaint and paid clearing customers much earlier. "data-reactid =" 32 "> The surprisingly high maintenance rate suggests that, in many cases, the TSB could have resolved the complaint and paid compensation to customers much sooner.

<p class = "canvas-atom-text-canvas Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Thousands of people could not perform payments in weeks of breakdowns for the millions of people who saw 1,300 TSB customers lose money fraud attacks. Some 370 other people were wrongly told that they had died. "Data-reactid =" 49 "> Thousands of people found themselves unable to make payments for several weeks during which 1,300 TSB customers lost money as a result from fraudulent attacks, that they were dead.

Elsewhere, FOS data revealed that clients who complained about payment protection insurance, which was in the thousands, are increasingly being denied compensation.

Consumer complaints against Allianz regarding consumer PPIs have mostly been successful, with a sustained rate of 30 pc. This figure is however aberrant and the data, dating back to 1 January 2017, show that consumers are gaining less and less business with PPIs.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Telegraphic money this week, billions of pounds of compensation have been revealed for the misleading sale of IPP & nbsp;remains unclaimed, with only six months of the deadline for reimbursement by the customer. & nbsp; "data-reactid =" 52 ">Telegraphic money This week revealed that billions of pounds of compensation for the misleading sale of PPIs had still not been claimed, just six months before the deadline for reimbursement by customers.

Even those who have been denied in the past may be able to claim back after legal action against excessive commission levels paid by insurers to suppliers. Experts claim that banks underpay up to 400 pc of potential repair.

The story continues

General insurance buyers, such as home, content and travel coverage, had the most success in complaining about Axa, getting compensation in a third of cases.

Aviva had the most dissatisfied customers with life and retirement plans during the period, 381 versus 291 in the first half of the year, and the highest retention rate in their favor at 30%.

For mortgages, Santander's customers suffered the most: 27% of the 450 complaints were retained.

The largest financial services companies generally rank lower in the most critically ranked rankings because of their larger number of clients. The high rate – the number of complaints against a business – gives a better indication of customer service for smaller businesses.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Sign up for our & nbsp; for the most important news of the week on personal finance, expert analysis and advice, retirement and real estate with investment ideas and savings tips,weekly newsletter."data-reactid =" 78 "> For the latest news, analysis and expert advice on the most important personal finances of the week, from pensions to property to investment ideas and advice savings, sign up for our weekly newsletter.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "laura.miller@telegraph.co.uk"data-reactid =" 79 ">laura.miller@telegraph.co.uk