Note from Helen Rose and TSB Complaints Data

This year marks a huge milestone for us as we welcomed our five millionth customer, growing much faster than we’d expected we would when we first started out. However, if we are to continue to build on this success we must also continue to provide the excellent levels of service that our customers want and deserve – and have now come to expect.

For this reason, we’re always seeking feedback from our customers to make sure we’re getting it right. Our customers’ opinions and suggestions are incredibly valuable and play a big part in improving the way we do business.

And hopefully, this is reflected in how we handle complaints, as today, I’m pleased to say that we resolved nine in every 10 complaints (banking and credit cards) within three days during the second half of 2016.

We also resolved more than half home finance complaints within three days. However, this has fallen from three quarters during the first half of last year. This is due in part to us moving across more than 27,000 former Northern Rock homeowners to TSB-owned brand, Whistletree. We’re confident that in the months and years to follow this figure will improve as these new customers begin to feel the benefit of TSB’s customer service.

Like all banks, we share these complaints numbers twice a year at the request of our regulator the Financial Conduct Authority (FCA) to help customers understand banks’ overall performance. This time, it has introduced some changes to the way banks need to report their complaints data from 2017, so that all complaints are included in the data the FCA publishes. In total, we received 32,598 complaints during the second half of 2016 – a similar number recorded in the first half of the year.

Without our customers we wouldn’t be where we are today, but we know that there are times when we don’t get it quite right. We make it our mission to listen to our customers and learn from their experiences.

Of course, there are times when not all customers agree with the decision we have made about their complaint. When this happens, customers can ask the Financial Ombudsman, an independent dispute resolution service, to review their complaint and decide whether it thinks the bank was fair in its ruling. During the last six months, the Financial Ombudsman upheld 21 per cent of the complaints received from TSB, much fewer than the industry average of 42 per cent. Where a complaint is upheld we look at where it went wrong so we can learn from it.

These efforts form part of our wider commitment to bring better banking to Britain – which has not only seen more customers choose to join us, it has helped us to become Britain’s most recommended high street bank.

However, we know there is still more work to be done and we will continue listening to our customers to make sure we provide the kind of banking they want and deserve. If you have any comments you’d like to share with us you can do it here.


  Number of complaints opened by volume of business
Product/service grouping Provision (at reporting period end date) Intermediation (within the reporting period) Number of complaints opened Number of complaints closed Percentage closed within 3 days Percentage closed after 3 days but within 8 weeks Percentage upheld Main causes of complaints opened
Banking and Credit Cards 3.6 per 1,000 accounts N/A 29,361 29,417 90% 9% 63% General admin/customer service
Home Finance 9.2 per 1,000 accounts N/A 2,260 2,230 53% 46% 55% General admin/customer service
Insurance and Pure Protection N/A 2.1 per 1,000 sales 165 164 88% 11% 55% General admin/customer service
Decumilation and Pensions N/A N/A N/A N/A N/A N/A N/A N/A
Investments N/A N/A N/A N/A N/A N/A N/A N/A
Credit Related N/A N/A 812 818 N/A N/A 52% N/A

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