PPI bank receives up to 1,500 complaints a day

There are at least 85,000 people complaining to Financial Ombudsman about PPI

10:52 12 November 2012

A lot of consumers are obviously not happy with the way banks are handling their PPI claims. The Financial Ombudsman services have revealed that 85,000 consumers have come to them to complain about major banks inability to effectively address their PPI-related concerns.

This is despite growing pressure from the government.

Based on FOS records, PPI complaints were up 75per cent from January to June this year. And 63per cent of these cases were properly dealt with, according to the website Which.

Among all the banks in the UK, Barclays and Lloyds are thought to have attracted the most number of PPI complaints. Barclays is reportedly on top with 19,522 complaints while Lloyds came in second with 9,493 complaints.

FOS figures also reveal that more and more people are moving their own PPI claims forwards. This is instead of using claims management companies that are taking up to 25per cent of their claims.

Chief Executive and Chief Ombudsman Natalie Ceeney said, as quoted by Which: “We’ve also seen an increasing shift towards consumers doing it themselves rather than using a claims manager – with up to half of all new complaints now coming directly from consumers without paid-for representation, compared to less than 20% a year ago.”