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

by: Paloma Kubiak
  • 03/11/2016
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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) revealed that the Financial Ombudsman Services (FOS) received a total of 79,534 complaints during the period.

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

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 from 43,569, as have those about packaged bank accounts, to 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, PPI complaints were down again from 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.

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