Banking sector complaints in the UK have reached their highest levels in more than a decade, according to data from the Financial Ombudsman Service, with current accounts being the most complained-about product.
The FOS recorded 80,137 customer complaints about banking and payment products for the year ending March 31 2024, compared with 61,995 during the preceding 12-month period. The watchdog upheld 36 per cent of complaints received, with complaints over prepaid cards — 49 per cent of which were upheld — the most likely to be upheld.
