Reacting to the latest complaints data from Financial Conduct Authority (FCA), David Mann, money expert, at Uswitch.com comments on the 7% fall in banking complaints: “The biggest PPI mis-selling scandal looks to have peaked as the total number of complaints are falling.
“However, once you factor PPI complaints out of the equation, the picture is much less rosy. Worryingly, one of the worst performing area is current accounts. This is despite consumers being more able to vote with their feet when they’re unhappy – thanks to the seven day switching rules.
“It’s problematic that the big banks continue to top the lists. Hopefully, more competition in the market can further encourage them to pull their socks up. Despite low awareness of the increased ease and speed of switching banks, people can be better off. With many current accounts offering switching incentives, interest rates that put savings products to shame or even just better customer service, moving to a better deal could make you better off and happier in the long run.”
For more information visit www.Uswitch.com or call 0800 093 06 07
FOR MORE INFORMATION
Katherine Moss
Phone: 0203 021 5893
Email: katherine.moss@uswitch.com
Twitter: @UswitchPR
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