Complaints against UK banks have again risen sharply according to the latest figures released by the UK Financial Ombudsman Service.
Financial life in the United Kingdom is currently in a state of disarray, households are not earning enough money, the cost of living is rising, and it seems that banks and financial institutions are not helping.
According to the FOS the third quarter of 2011 has seen civilian complaints against banks go up by 24 percent. The FOS also revealed that the bulk of these complaints were made in relation to savings, overdrafts, mortgages and also insurance.
Apparently the first six months of 2011 saw around 1,386 complaints made to the FOS. Out of all the big high street banks Barclays received the most complaints with 251,563 lodged against the bank. Lloyds TSB came next with 181,907, then Santander with 168,888 and NatWest received 147,109.
What this shows us is that UK banks are simply falling in line with various other unsatisfactory elements of British life. With costs resign, wages decreasing, and the weather staying as and as ever it’s no surprise that more and more people are moving abroad to find a better way of life overseas.
People who move abroad and become expatriates can often benefit from utilising offshore banking facilities, and thus escaping the poor service found on the high street. Consult our Offshore Banking section for more details.