Financial Ombudsman Service and FCA move to modernise redress system
15 November 2024
We launch a ‘Call for Input’ jointly with the Financial Conduct Authority (FCA) to create stability for consumers and businesses.
Welcome to the latest edition of Ombudsman News. In this edition, we highlight our latest annual complaints data and insight for 2023/24. We also share guidance for professional representatives about referring a complaint to us for investigation.
See our previous editions of Ombudsman News.
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Banking complaints hit a 10-year high
Our latest annual complaints data on financial products and services is now available. It shows that in 2023/24, complaints about banking and payments have reached their highest level in at least a decade.
You can find the full data, including the number of new complaints we’ve received, and the proportion of complaints we upheld, on our website.
Travel insurance complaints at their highest level since the pandemic
The total number of new complaints we received about travel insurance in the last financial year has reached the highest-level since the pandemic – with cases primarily driven by people dissatisfied with insurers declining their claims.
Overall, we received 4,466 new complaints in 2023/24, compared to 3,745 in the year before.
Information for professional representatives
On our website, we’ve published guidance for professional representatives about referring a complaint to us for investigation. It includes links to the complaint form to use, as well as other resources and useful information.
Latest news
Travel insurance complaints at their highest levels since the pandemic
16 July 2024
Holidaymakers unhappy with their travel insurance have led to rising levels of complaints.
Banking complaints hit a 10-year high
12 July 2024
Complaints about the banking sector are at their highest level in at least a decade.