Ombudsman News 169

Our complaints data for October – December 2021 is now available on our website. It includes information and insight about the most complained about financial products and services during the quarter. 

Visit our website to see the latest trends in our complaints data and the insight we share about our approach.

Packaged bank accounts are current accounts with a “package” of extra features like mobile phone and travel insurance, or preferential rates on overdrafts and loans. We often hear from people who complained to their bank as they haven’t used the extra features. Not using the features of a packaged bank account, however, doesn’t necessarily mean that the account was mis-sold.  

Packaged bank accounts were one of the most complained about products in the third quarter of this financial year. We have information available on our website for consumers and for financial businesses to help all our customers understand our approach to dealing with complaints like this and to share examples of what we have said in cases we have resolved.

We’ve published our diversity, inclusion and wellbeing report for 2021. The report includes an update on our diversity, inclusion and wellbeing action plan, recent external recognition and accreditations, and includes our gender and ethnicity pay gap data.

Several parts of the UK have been affected recently by storms and flooding. We often see complaints from consumers who tell us they’re unhappy with the way their insurer handled their claim, or because their claim was rejected.

If you are dealing with a claim from a consumer who experienced loss or damage caused by the storm or flood, you can find information on our website about our approach as well as details of our Business Support Hub if you need to speak to us informally about a complaint you’ve received.

We attended the ABI annual conference earlier this week. Ombudsman Leader, Rachel Lam, took part in a panel discussion about the UK data landscape and what it means for insurance and long-term savings providers. Rachel outlined how the Financial Ombudsman uses data to understand and identify trends in the complaints we receive, to inform our engagement with businesses and to help prevent complaints arising.