Aggregate complaints data: 2023 H2

By analysing this data, we evaluate the firms' treatment of their customers and track changes in their performance over time. We also use this information to guide our supervision of firms and markets, and to identify any potential concerns related to specific financial products.

• Key findings
• Aggregate complaints data sortable tables: 2023 H2
• Opened complaints[1]
• Closed complaints[2]
• Complaints upheld[3]
• Redress paid[4]
• About the complaints data[5]

Download the aggregate complaints data (XLSX)[6]

Key Findings

• In 2023 H2, financial services firms received 1.87m complaints, a decrease of 1% from 2023 H1 (1.89m) (figure 1). Since the Payment Protection Insurance (PPI) peak in 2020, complaints have stayed relatively constant between 1.8m and 2m.
   
• The product groups that experienced an increase in their complaint numbers were:
   
  • banking and credit cards - up 3.2% from 847,497 (2023 H1) to 874,568 (2023 H2)
  • home finance - up 3.7% from 91,470 (2023 H1) to 94,822 (2023 H2)
  • investments - up 3.4% from 59,417 (2023 H1) to 61,446 (2023 H2)
     
• The product groups that experienced a decrease in their complaint numbers were:
   
  • decumulation & pensions - down 2.8% from 88,058 (2023 H1) to 85,547 (2023 H2)
  • insurance & pure protection - down 5.8% from 800,253 (2023 H1) to 753,192 (2023 H2)
     
• There were increases in the biggest 3 products to be complained about:
   
  • current accounts up 1% from 509,923 in 2023 H1 to 515,336 in 2023 H2
  • motor and transport up 1% from 278,148  in 2023 H1 to 281,082 in 2023 H2
  • credit cards up 7.5% from 201,925 in 2023 H1 to 217,032 in 2023 H2 which follows recent fluctuation trends
     
• Most other products saw a decrease in number of complaints.
   
• The percentage of complaints upheld decreased from 61% in 2023 H1 to 58% in 2023 H2.

In 2023 H2 the total amount of redress was £259m. This is 10% higher than 2023 H1 (£236m). 

While preparing the 2024 H2 publication, we identified a discrepancy in our calculations that led to an overstatement of the total number of accounts in the ‘Banking and Credit Cards’ and ‘Investments’ product groups. This figure is used to calculate the relevant contextualisation metric in Figure 2. The updates are included in the 2024 H2 and future publications. This publication has not been updated.

In 2022, we revised the product group context figure calculation methodology to reduce errors in firm reporting. Be careful when comparing data with previous years.
 

Table 1 – Complaints closed in the period

Source: FCA complaints data

Table 2 – Complaints upheld, and redress paid

Source: FCA complaints data

Aggregate complaints data sortable tables: 2023 H2

Context data

Please see about our complaints data section for information about context data.

Copyright

The data on this page is available under the terms of the Open Government Licence[7].