TSB Bank plc reports its complaints data for H1 2014.
TSB Bank plc today publishes for the first time its FCA reportable complaints data for the first six months of 2014. Helen Rose, the Bank's Chief Operating Officer provides an analysis of the data which has been posted onto TSB's
Truth and Banking customer hub
"Let's start with the numbers. In the first six months of 2014, TSB received 10,826 reportable complaints - 9,798 of which were banking complaints - this equates to 1.3 complaints per 1,000 banking accounts.
"With nearly five million customers and around 850,000 transactions processed each day, things, do unfortunately, go wrong sometimes. But it's how we manage our complaints and respond to the feedback that we receive that we feel sets us apart. We're grateful to our customers for giving us their feedback. We would like to thank people for taking the time to talk to us as it's through these conversations that we can improve our customer service.
"We monitor and track every complaint we receive to understand what issues our customers are facing and do all we can to improve our service. This is another reason why we have posted our complaints data onto our customer hub -
Truth and Banking
- rather than bury our figures on our main website.
Truth and Banking
is where we 'lift the bonnet' on all things TSB and why I am taking the time to explain what our complaints are telling us.
"We've already made changes as a result of the complaints we have received. For example, just a few of the improvements we have made so far include:
- Scrapping all of our 0845 numbers
- Making our mortgage redemption statements clearer
- Introducing an automated service so people can let us know when they're planning on using their card abroad so they don't have any issues when paying for things on holiday.
"It would be very easy for me to say I'm going to reduce the number of complaints we receive - and whilst I hope none of our customers will need to complain, I know that's not realistic. But what is realistic is learning from our customers' feedback. We're improving to create a TSB that our customers want and indeed demand of us.
"We also acknowledge it's been a unique and eventful year for many of our customers as they transitioned from Lloyds to TSB and we accept there have been some issues along the way. I am, however, confident that we approach customer service and complaints handling proactively and constructively.
"When a customer has a problem, they don't want to wait for ages, they want a speedy resolution. So we look to resolve complaints as soon as we can - indeed, 83% are handled within 48 hours of receipt and we're constantly looking to improve on this. For example, in May we launched a new training programme for our call centre staff which helped contribute to a reduction in the complaints we receive about payments.
"But my team and I are determined to tackle our complaints head on: we've not yet been on the high street a year and we know there are things we can improve, but I firmly believe we're on the right path to deliver the best experience that we can to our customers."
TSB's complaints data in full:
TSB's complaints data in full
|Product category||Number of complaints opened||Number of complaints closed||Complaints closed within 8 weeks (%)||Closed complaints upheld by firm (%)|
|General insurance and pure protection||21||26||92%||42%|
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Notes to editors
- TSB Bank plc customers jointly hold 7.6 million banking products, combining current accounts, credit cards, personal loans and savings. We reported 1.3 complaints for every 1,000 of these accounts.
- TSB reported 5.7 complaints per 1,000 accounts about home finance products.
- For general insurance, the complaints per thousand accounts figure is 0.16.
For further information about TSB Bank plc, please visit our website