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Bluecygnet News and Events

Bailed-out bank RBS is being bombarded with more than 1,600 complaints a day from customers, official figures reveal

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Posted 23 April 2010

In total, RBS and its subsidiary high street bank NatWest received 302,371 complaints over six months last year, the Daily Mail reports.

It is thought the vast majority of complaints concerned problems with current accounts, credit cards as well as payment protection insurance.

Data released by the bank also showed it admitted making a mistake to eight out of ten customers who complained about a banking problem. The bank, which is still 84% owned by the taxpayer, became the first to publish official details of the number of customer complaints.

From August, the FSA will demand all banks make public similar information.

RBS claims the volume of new complaints received was particularly high in the last six months of last year because of the result of a Supreme Court decision on unfair overdraft charges. This meant all cases put on hold over the previous two years suddenly had to be dealt with.

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