Credit card complaints: how to contact ombudsman about current account complaints and other financial matters

Complaints about credit cards and current accounts increased in the second half of last year, according to data from the City regulator.

In the second half of 2023, the Financial Conduct Authority (FCA) received 874,568 complaints regarding credit cards and banking, an increase of 3.2% from the first half of the year.

And complaints about current accounts saw a 1% rise between the first and second halves of 2023, reaching a total of 515,336 grievances in the latter half of the year.

With 217,032 complaints in the second half of last year, credit card complaints increased by 7.5% over the same period.

The news comes as the latest industry data has revealed that Nationwide Building Society, Barclays and Lloyds Bank experienced significant growth in customer numbers utilising the Current Account Switch Service (Cass) during the last quarter of 2023.

Read more: The best UK current account banks to switch to - including Barclays and Halifax

What else was complained about?

In the FCA’s insurance category, motor and transport-related complaints increased by 1%, to 281,082 in the second half of 2023.

The FCA’s figures also showed that investments-related complaints also increased, by 3.4%, when comparing the second half of 2023 with the first half, with 61,446 gripes recorded in the last six months of 2023.

Complaints relating to pensions and insurance fell in the second half of last year. Overall, in the second half of 2023, financial services firms received 1.87 million complaints, which was a decrease of 1% compared with the first half of 2023.

Since the payment protection insurance (PPI) peak in 2020, complaints have remained relatively constant, the FCA said. The percentage of complaints which were upheld decreased from 61% in the first half of 2023 to 58% in the second half of last year.

In the second half of 2023, around £259 million was paid out in redress. This is 10% higher than the first half of last year. The average redress amount paid was £203, up from £183 in the first half of 2023.

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The FCA publishes complaints data every six months and its figures include submissions from firms reporting 500 or more complaints within a six-month period, or firms reporting 1,000 or more complaints in a year.

The regulator uses the data to help assess how well firms are treating their customers and how their performance changes over time.

How to make a complaint about your credit card or current account

To lodge a complaint about your credit card or current account, begin by reaching out to your bank or credit card issuer, which can often be done through their customer service hotline, online portal or by visiting a branch in person.

When you speak to somebody, clearly articulate the nature of your complaint, and provide relevant details such as dates, transactions and any supporting documentation you may have.

Many financial institutions have formal procedures for handling complaints - familiarise yourself with these procedures and ensure you follow them accordingly, keeping record of all communications, including dates, times and names of people spoken to.

If you're unable to resolve the issue directly with your provider, you can escalate your complaint to an external authority. In the UK, there are several regulatory bodies and ombudsman services that handle complaints related to banking and financial services.

These include the Financial Ombudsman Service (FOS), an independent service that helps to resolve disputes between financial services providers and their customers, and can investigate complaints about a wide range of financial matters including banking, credit cards, loans, mortgages, insurance, and investments.

To contact the Financial Ombudsman Service (FOS) in the UK, you can visit their official website at financial-ombudsman.org.uk, where you can submit an online complaint form.

You can also call the Financial Ombudsman Service by phone at 0800 023 4567 or 0300 123 9 123 (from mobiles), or send a letter detailing your complaint to: Financial Ombudsman Service, Exchange Tower, London, E14 9SR.