Barclays is most complained about bank says FSA
Barclays fielded the most customer complaints of any UK financial institution during the second half of 2010.
The banking group received 276,315 complaints in the six months ending December 31, followed by Santander with 195,475, Lloyds TSB with 175,892 and Bank of Scotland with 123,477.
The data from the Financial Services Authority (FSA) showed that 999,196 grievances were raised against high street banks in the last six months of last year. Substandard service and poor advice on pensions and insurance were among the chief complaints of angry customers.
Banks, insurers and investment firms also paid out £454m in compensation as complaints about "advising, selling and arranging" rose by 47pc compared with the first half of the year.
This was "mainly caused" by dissatisfaction about controversial Payment Protection Insurance, which is used to cover payments on credit cards and mortgages in case of illness or unemployment.
In a statement, the City regulator said it was "committed to greater transparency where it will benefit consumers".
