The Financial Services Ombudsman received 3,700 complaints between January and June.
That is up 5% compared to the same period last year.
The figures are contained in a report published by the office this morning.
40% of the grievances against banks related to mortgages.
These included tracker rate issues, poor administration and dissatisfaction over repayment terms.
The number of complaints upheld the the Ombudsman also rose.
They now stand at 28% up from 26%.
The Review shows that:
- 3,700 complaints against Financial Institutions were received in first half of 2012, a 5% increase on the last 6 months of 2011
- Trends show an increase in complaints received and an increase in complaints upheld
- 40% of complaints against Banks relate to Mortgages, with ‘tracker’ rate issues, maladministration and repayments terms the main areas of complaint
- Insurance complaints increased by 15%
- Complaints about Payment Protection Insurance (PPI) doubled, from 218 to 410
- 74% of PPI complaints are about alleged mis-sale of the product
- The Bureau has increased the number of Findings issued by 12%, reducing waiting times for complaint adjudication
- 25% of complaints received were settled by Financial Institutions
- The Bureau received 11,300 telephone queries during January to June 2012 and 39,000 website hits
But the Financial Services Ombudsman Bill Prasifka expects the 2nd half of the year to be even busier for his office as the extent of customers’ anger over the Ulster Bank IT glitch is made clear.
He told Breakfast here on Newstalk that the numbers show worrying trends for the industry.
Read the report in full href="http://www.financialombudsman.ie/FSO_Bi-Annual_Review_2012.pdf">here
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