• Overview of TSB Complaints Data

    At TSB our aim is to provide customers with great banking - giving the kind of service they want and deserve. However, unfortunately - despite our best efforts - things don't always go as smoothly as we would like. Measuring our complaints, and acting on them, is important. Below is our H1 2016 complaints data as reported to the Financial Conduct Authority (FCA).

    And while it is a good start, we know there is still more to be done.

  • TSB complaints data in full

    Product category Number of complaints opened Number of complaints closed  Complaints closed within eight weeks (%) Closed complaints upheld by firm (%)
    Banking and credit cards
    12915 14,041
    92% 50%
    Home finance 557
    89% 61%
    General insurance and pure protection 27
    100% 50%
    Decumulation, Life and Pensions N/A
    N/A N/A
    Investments N/A
    N/A N/A
    Credit-related  444
  • What do all these numbers mean?

    • TSB reported 1.6 complaints per 1,000 bank accounts or 1.0 complaint per 1,000 bank accounts excluding legacy products (which includes some products sold before we separated from Lloyds Banking Group).
    • In home finance, we reported 2.8 complaints per 1,000 accounts (down from 3.2/1,000 during H2 2015).
    • In general insurance, we reported 0.1 complaints per 1,000 accounts.
    • In credit-related we reported 2.5 complaints per 1,000 accounts.
    • More complaints related to Banking and Credit Cards and Home Finance were closed within eight weeks compared to H2 2015.

    So what are we doing to further improve our service?

    We’re listening to our customers

    We’re always looking at ways to bring better banking to more people. As part of this, we regularly speak to our customers and based on their feedback we’ve made a number of changes to our services including:

    • Making changes to our Bank Charges Guide to make it clearer for customers – it also lets them know that we offer a grace period until 3:30pm on the due payment date to help them avoid potential charges.
    • Changing the way we distribute documentation relating to power of attorney and bereavement cases.
    • Implementing a buddy system in our mortgage adviser team to ensure people can speak to someone familiar with their case if their usual advisor is unavailable.
    • Introducing additional training to equip our business banking partners to deal with more complex queries such as ensuring the first person a business customer speaks to can help them directly, rather than referring them to another department.

    While not exhaustive, we estimate these efforts have helped prevent complaints during the first half of the year. We’re also delighted to have recently been named Britain’s most recommended high street bank. Customer service is something we will never become complacent about and we will continue to review the way we do things for the benefit of our customers.

  • Complaints opened: 12915

    Complaints closed:  14041

    1.6 complaints per 1,000 bank accounts.

    Excluding complaints about legacy products which were sold before TSB separated from Lloyds Banking Group our total complaints were 1.0 per 1,000 banking accounts. This adjusted figure gives a much truer representation of our 'current' level of customer service and the work we have done to reduce the number of complaints we receive.

    Banking and credit cards complaints Jan-June 2016

    Complaints opened: 557

    Complaints closed: 534

    To put these figures in to context for mortgages, for every 1,000 accounts, we received 2.8 complaints.

    Home finance complaints Jan-June 2016

    Complaints opened: 27

    Complaints closed: 26

    To put these figures in to context for 'general insurance', for every 1,000 accounts TSB has, we received 0.1 complaints.

    General insurance complaints Jan-June 2016