Continually improving the service we offer and reducing the number of complaints we receive is very important to us. We regularly review the information we have about your complaints, which helps us to understand how we can make improvements.
What we publish
Every 6 months we publish the number of FCA customer complaints we've received for the previous half year. We also put these figures into context using the type of products complained about.
Why we publish
The FCA require us to provide this information directly to them as well as on our own website, just as other firms have to. This data can be used as an indicator of how well we're serving our customers, for comparison purposes and also demonstrates the improvements we're making to reduce the number of complaints we receive.
What's changed recently
Up until 30 June 2016, the FCA required firms to report the volume of complaints they hadn’t resolved by 'close of the next business day'.
From 30 June 2016 onwards, firms will be including all complaints they receive within their complaints data, including those resolved by 'close of the next business day'. Naturally this new reporting requirement will result in the banking industry reporting more complaints than before, but it doesn't necessarily mean that firms are receiving more complaints than they were before or that they are handling them any differently.
This more transparent way of reporting will enhance the information available going forward, although it does mean that comparisons between the old and new style data can't be made.
|Firm Name:||Santander UK plc|
|Group (If Applicable):||Santander|
|Other firms included in this report (If any):||-|
|Period covered in this report:||01 July 2016 – 31 December 2016|
|Brands/Trading names covered:||Santander & Cahoot|
|Number of complaints opened by volume of business|
|Product / Service Group||Provision (at reporting period end date)*||Intermediation (within the reporting Period)*||Number of complaints opened||Number of complaints closed||Percentage closed within 3 days||Percentage closed after 3 days but within 8 weeks||Percentage upheld||Main cause of complaints opened|
|Banking & Credit Cards||4.4 per 1000 accounts||N/A||115,286||114,845||72%||27%||52%||Other general admin / customer service|
|Home Finance||7.8 per 1000 balances outstanding||N/A||9,755||10,475||29%||49%||61%||Other general admin / customer service|
|Insurance and Pure Protection**||25.6 per 1000 policies in force||N/A||22,279||18,521||1%||97%||74%||Unsuitable advice|
|Decumulation & Pensions***||N/A||N/A||67||68||12%||59%||34%||Unsuitable advice|
|Investments**||12.3 per 1000 client accounts||N/A||4,009||4,562||10%||80%||69%||Unsuitable advice|
|Credit Related||6.4 per 1000 loans||N/A||2,398||2,673||N/A||N/A||60%||N/A|
We put the complaints figures into context using ‘per 1000’ metrics so that comparisons can be made across firms of different sizes.
Helpful notes to explain the data:
* The 'Provision' metric is used when a firm is the product provider, using the total volume of accounts held as at the end of the reporting half (31/12/2016). The 'Intermediation' metric is used when a firm is only responsible for selling the product (but isn't the provider), using the volumes of sales made during the reporting half (01/07/2016 to 31/12/2016).
** For the 'General Insurance & Pure Protection' and 'Investments' product groups, while Santander UK is responsible for selling the product, we have used the provision metric to provide more meaningful context for H2 2016.
***Decumulation, life and pensions products - Santander continues to resolve complaints relating to the advice provided at point of sale for a variety of different historic group companies. Santander had stopped advising on or selling any of these products by June 2011 and they are now either owned or administered by 3rd party firms.
"Helping people and businesses prosper through providing simple, personal and fair banking lies at the heart of our strategy. Coupled with that, offering customers a seamless experience and excellent service is fundamental to the way we work.
While we have made good progress in both how we handle complaints and with our customer satisfaction scores, we know we still have more to do and remain unwavering in our commitment to deliver an exceptional customer experience.”
Sue Willis, Managing Director of Customer Experience & Complaints
Committed to our customers
How we're making a difference
|Committed to our customers|
|We're always disappointed when one of our customers feels the need to complain, but where we've made a mistake, we work hard to resolve it and, of course, say sorry.|
|Improved customer satisfaction|
While we're pleased that the Financial Research Survey (FRS), the recognised benchmark in customer service amongst banks, shows Santander UK significantly improved customer satisfaction in the last year and is now at its highest level for the last 3 years* (June 2016), we know we have more to do to ensure all our customer receive the experience they expect from Santander.
FRS also reported a significant improvement in customer satisfaction for current accounts last year, with satisfaction scores rising to 70.4%* (June 2016).
|Our commitment to our customers produced some encouraging results|
|We've still got more to do|
|Although we’re pleased that we’ve made progress and that this is being recognised, we know there’s still much to do. We constantly monitor our complaints process to ensure we resolve issues quickly when they do arise, while getting the correct outcome for our customers.|
|Follow our results|
|Every six months, Santander, along with all the major banks and building societies, publishes details of the volume of complaints reportable to the Financial Conduct Authority. |
The Financial Research Survey (‘FRS’) is a monthly personal finance survey of around 5,000 consumers prepared by the independent market research agency, GfK. “Customer Satisfaction” refers to the proportion of extremely and very satisfied customers across mortgages, savings, main current accounts, home insurance, UPLs and credit cards, based on a weighting of those products calculated to reflect the average product distribution across Santander UK and competitor brands. Data is for the 12 months ending 31 June 2016 and compared against twelve months ending data for the periods indicated. The competitor set used to calculate the product weights is made up of Barclays, Halifax, HSBC, Lloyds Bank, Nationwide and NatWest.
You can look back at our historical complaints data below:
|Complaints data 01/01/2016 – 30/06/2016|
*Credit Related - The FCA has taken over the regulation of Consumer Credit from the Office of Fair Trading (OFT). All FCA regulated financial institutions providing consumer credit products or services were required to apply for a consumer Credit Licence. Santander UK PLC has been granted their consumer credit licence from the FCA and therefore will provide complaint figures relating to this product group.
|Complaints data 01/07/2015 – 31/12/2015|
|Complaints data 01/01/2015 - 30/06/2015|
|Complaints data 01/07/2014 - 31/12/2014|
The Financial Conduct Authority (FCA) publishes firms' complaints figures and provides analysis on the recent industry complaint data. The FCA has recently made some changes to how firms should handle and report complaints. You can find more information about this here
The Financial Ombudsman Service (FOS) also publishes information about how many complaints they receive from firms and the result of these. They also provide guidance on aspects of complaints handling and produce informative publications, putting topical issues under the microscope.