Lloyds 2000 complaints a day is the tip of the Consumer Revolution

The Daily Mail is reporting about how Lloyds TSB has had 300,000 complaints in the first 6 months of 2010. Britain’s biggest bank which is 43% owned by taxpayers is dealing with an average of 2000 complaintsRead More


Which? Banks Customer Service Test Results

Consumer champions Which? have published the results of their Peoples Choice Poll on customer service of banks. Lloyds banks including Halifax and the Bank of Scotland are in last place.

Customers were polled in 4 different areas:

  • Current Accounts
  • Mortgages
  • Savings Accounts
  • Credit Cards

First Direct topped the poll with 81%, coming first in the first 3 of the four sections above. Santander and State owned Northern Rock both failedRead More


Friday Round up

Welcome to the Friday round up, were we trawl through the weeks news and current events, picking out stories just for you!

The Financial Ombudsmen’s Service has reported that it is dealing with a record number of PPI claims, announcing that they had dealt with 114,478 claims in the last 5 years:
http://www.pressandjournal.co.uk/Article.aspx/1865574

The Daily Mail reports that the UK Banks are still not lending to small businesses across theRead More


What do the new FSA rules on PPI mean to you?

The fallout from the FSA’s new rules regarding the way banks will have to handle PPI claims in future is causing many raised eyebrows in the banking community as “Petulant Banks” have already started complaining about how much it is going to cost to implement these new rules – which is usually ‘banking-ese’ for “we’ll pass the costs onto the customers!

However what do these new rules mean to the average person with a mortgage, loan or credit card?
Read More