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02/05/2006
Substantial rise in complaints against banks
The number of complaints against UK High Street banks increased by 50% last year, according to the Banking Codes Standards Board (BCSB).
The BCSB report said that customers were most upset about interest rates and default charges.
Around 3,500 complaints and enquiries were received by the BCSB in 2005.
The watchdog warned that they were usually only contacted as the last resort and warned that their figures may only be "the tip of an iceberg".
The BCSB has warned that banks could be reported to the Financial Services Authority unless they improve their handling of customers complaints.
(KMcA)
The BCSB report said that customers were most upset about interest rates and default charges.
Around 3,500 complaints and enquiries were received by the BCSB in 2005.
The watchdog warned that they were usually only contacted as the last resort and warned that their figures may only be "the tip of an iceberg".
The BCSB has warned that banks could be reported to the Financial Services Authority unless they improve their handling of customers complaints.
(KMcA)
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