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Complaints data

This page provides details about the number of complaints we've received, how quickly we dealt with those complaints and how many we upheld.

At Tesco Bank we want to do the best for our customers and provide a great service so that we earn lifetime loyalty. We recognise that sometimes things do go wrong and if this happens our aim is to rectify any issues as quickly as we can.

We want customers to tell us about any complaints or concerns they might have, so that we can put matters right. Additionally, complaints provide us with valuable feedback about our products and service. We use this information to improve the services and products that we offer.

If you need to know more about how to make a complaint, you can visit our complaints page.

Complaints Publication Report

The table below provides details about the number of complaints we have reported, how quickly we dealt with those complaints and how many we upheld. We have created a glossary to help explain what the headings in the table mean. See our glossary of complaints terms

Firm name: Tesco Personal Finance PLC

Period covered in this return: 01 September 2016 - 28 February 2017

Brands/trading names covered: Tesco Bank

Product / service groupingProvision (for reporting period end date)*Intermediation (within the reporting period)*Number of complaints openedNumber of complaints closedPercentage closed within 3 daysPercentage closed after 3 days but within 8 weeksPercentage upheldMain cause of complaints opened
Banking and credit cards3.11 per 1000 accountsn/a17,54217,26766.00%34.00%51.00%Disputes over sums/charges
Home finance9.88 per 1000 balances outstandingn/a13211739.00%61.00%66.00%Other general admin/ customer service
Insurance and pure protection10.2 per 1000 policies in forcen/a19,04517,74158.00%42.00%23.00%Unclear guidance/ arrangement
Decumulation and pensionsn/an/an/an/an/an/an/an/a
Investmentsn/an/an/an/an/an/an/an/a
Credit related2.39 per 1000 accounts/loansn/a1,1171,106n/an/a59.49%n/a

*Number of complaints opened by volume of business

To put these figures into context:

  • 37,836 complaints were received over the period.
  • 99.8% of our complaints were resolved within 8 weeks. At Tesco Bank we aim to resolve the majority of complaints within 7 days.
  • We have 5.6 million Banking accounts made up from our Savings, Credit Card and Current Account products, over 450,000 Loans products and 1.24 million Car and Home Insurance policies in force.

Details of the number of cases referred to the Financial Ombudsman Service (FOS) can be found from visiting their website.

Glossary of complaint terms

GLOSSARY

Complaint opened: This means when the complaint reached us.

Complaint closed: This means when we have finished looking into the complaint and the customer has told us that they are happy with the outcome; or we have issued a letter giving our final response.

Complaints closed within 8 weeks: We try and handle the majority of complaints within 8 weeks. This is the timescale set by our regulator, the Financial Conduct Authority.

Complaints upheld by firm: This means the percentage of complaints that were resolved in the customer's favour.