Bank Current Accounts Complaints Rise With FCA

Bank Current Accounts Complaints Rise This Year

According to the UK financial regulator the Financial Conduct Authority, bank current accounts complaints rise.

Apparently the number of people complaining about their current accounts jumped by a third in the first half of this year.

There were over half a million such complaints between January and June, which is a rise of 31.2% on the previous year.

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The Financial Conduct Authority warned the banks to take action to address the problems, although allegedly the industry said it had already stepped up efforts to reduce the number of unhappy customers.

Many have been complaining specifically about packaged accounts, which include insurance policies and other extras “included”.

Banks charge a monthly fee for such accounts, but some people say they have been signed up without their permission or have found the insurance products worthless.

Watch this space, but this could well be another PPI type claim against the banks in the future.

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