Quarterly complaints data: Q1 2023/24

Every three months, we share quarterly data and information on the complaints we see about financial products and services. This includes the number of enquiries and new complaints we’ve received, as well as the proportion of complaints we resolved in favour of consumers – or ‘upheld’.

For information on the complaints we received about claims management companies (CMCs), please see our CMC quarterly data.

• Overall, we received 73,429 new enquiries and 43,953 new complaints about financial products and services.

• This is an increase on complaints received in the same period last year. We received 35,029 complaints in Q1 2022/23.

• Complaints about buildings, car and motorcycle insurance have reached a combined five-year high, with an increase in complaints about delays in processing and paying insurance claims.

• Current accounts were the most complained about product this quarter, with complaints up by a third compared to the same quarter last year. This rise is due to fraud and scam complaints which also increased by a third in the same period.

• Complaints which were categorised as account closures made up just 5% of current account complaints and this is consistent with the same period last year.

• Travel insurance complaints have doubled in a year – increasing from 504 complaints in the first quarter of 2022/23 to 1,101 in the same quarter this year. The highest Q1 figure for travel insurance complaints in more than a decade.

• There has been a small increase in the percentage of cases upheld year on year. On average, we upheld 37% of the cases we resolved, up from 34% in the same period last year.

The top five most complained about products and services were:

1. Current accounts
2. Credit Cards
3. Car or motorcycle insurance
4. Hire purchase (motor)
5. Buildings insurance

Download the data: The top five most complained about products in Q1 2023/24 (XLSX 11KB)

The data for this quarter shows that consumers continue to contact us for help with complaints about the everyday products and services that people rely on or the types of products or services that are essential to daily lives.

Although the type of products that feature in the top five for this quarter are largely consistent with other recent quarterly data, buildings insurance features in the top five this quarter for the first time since the first quarter of last year.

Car or motorcycle insurance

Car/motorcycle insurance complaints have increased by more than 50% when compared year on year. In Q1 we received 3,869 complaints about car/motorcycle insurance, compared to 2,524 in Q1 2022/23. The uphold rate has also increased in this period – from 29% in Q1 2022/23 to 36% in Q1 2023/24.

Complaints are about a variety of issues, including the value of a claim and claims being declined altogether, as well as complaints about administration and customer service issues. The largest increase has been in complaints about delays in claims, with complaints up 90% compared to Q1 last year. 

The increase we’ve seen in insurance complaints appears to be caused by several factors. There has been a rise in insurers delaying in paying out on claims, while at the same time contractor availability has impacted on the speed of repairs, as has the ability to source materials.

Download the data: Car or motorcycle insurance related complaints about claim delay received in Q1 for the last five years (XLSX 11KB)

Buildings insurance

Buildings insurance is the fifth most complained about product this quarter, making up around 4% of the total number of complaints received. In the first three months of this year, we received 1,776 complaints.

As with complaints about car and motorcycle insurance, we’ve seen an increase each year in complaints relating to delays during the claims process. In Q1 this year, we received 503 complaints, up from 351 in the same period last year.

Download the data: Buildings insurance related complaints about claim delay received in Q1 for the last five years (XLSX 11KB)

Current accounts

We received 7,224 complaints about current accounts in Q1 this year. Current accounts were the most complained about product in Q1 2023/24. Complaints increased by a third when compared to Q1 2022/23. This rise is due to fraud and scam complaints which also increased by a third in the same period. 

Complaints about bank account closures

Complaints which were categorised as account closures made up just 5% of current account complaints. We will continue to work closely with stakeholders and monitor the complaints we see about bank account closures, as well as any developments in the sector. We publish information for financial businesses on handling complaints about bank account closures, to help businesses understand our approach and what we look at when we receive a complaint, as well as to highlight information businesses need to consider about the law, regulations and notice periods.

Complaints about fraud and scams

Complaints about fraud and scams, across all financial products, have increased by almost 39% to 6,094, up from 4,392 in the same quarter in the previous year.

Credit cards

Credit cards are consistently the second most complained about product with 4,189 complaints this quarter compared to 2,730 cases in the same quarter five years ago (Q1 2019/20).

The top three issues in complaints about credits cards are complaints about unaffordable or irresponsible lending, administration and customer service problems, and complaints about Section 75.

Download the data: The top five issues in complaints about credit cards received in Q1 2023/24 (XLSX 11KB)

Hire purchase (motor)

We received 3,678 complaints about hire purchase (motor) in Q1 2023/24. Complaints about charges, fees and commission make up over a third of these complaints, largely because of complaints about undisclosed commission. Our recently published blog outlines what we’re seeing in this area and our approach to investigating specific issues.