£283m in redress paid by monetary companies corporations coping with complaints

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Your assist makes all of the distinction. Learn extra Monetary companies corporations paid out £283 million in redress when coping with complaints within the first half of this 12 months, in keeping with figures from the Metropolis regulator.

The redress complete jumped by a fifth (20.0%) in contrast with £236 million paid out within the second half of 2024.

Monetary companies corporations acquired 1.85 million complaints within the first half of this 12 months, the Monetary Conduct Authority (FCA) stated, with rises in gripes referring to banking and bank cards, investments and pensions.

The FCA stated the general variety of complaints elevated by 3.6% within the first half of 2025, in contrast with the second half of 2024.

For the reason that first half of 2021, complaints have remained comparatively fixed at between 1.7 million and a pair of.0 million, it stated.

Complaints about banking and bank cards elevated by 7.2% in contrast with the second half of 2024, with 899,861 complaints recorded within the first half of 2025.

There was additionally a 5.5% enhance in complaints about decumulation and pensions, with 94,035 complaints recorded within the first half of this 12 months.

Investments attracted 10.1% extra complaints within the first half of this 12 months than the earlier half-year, with 58,303 complaints recorded.

Some classes noticed falls in complaints, with residence finance complaints falling by 6.3% to achieve 78,641 within the first half of this 12 months.

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Insurance coverage and pure safety complaints edged down by 0.2%, with 717,406 gripes recorded.

Probably the most complained about merchandise within the first half of 2025 have been present accounts, producing 541,493 complaints within the first half of the 12 months; motor and transport, attracting 255,192 complaints; and bank cards, with 211,903 complaints.