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 2015 – 29 February 2016
Brands/trading names covered: Tesco Bank
|No. of complaints opened||No. of complaints closed||Complaints closed within 8 weeks (%)||Complaints upheld by firm (%)|
|GI & Pure Protection||16,335||15,614||99.9%||19%|
|Decumulation, life & pensions||n/a||n/a||n/a||n/a|
To put these figures into context:
- We have 5.8 million Banking accounts made up from our Savings, Loans, Credit Card and Current Account products. The complaints reported represent 1.5 per 1,000 accounts.
- In Home Finance, we reported 105 Mortgage complaints from applicants and account holders (10,178 accounts and 10,299 applications).
- GI & Pure Protection – Payment Protection Insurance (PPI) complaints account for 89% (14,600) of complaints in this category. The remaining 11% (1,735) relate to other General Insurance products which represent 1.38 per 1,000 policies, with 1.25 million Car and Home Insurance policies in force.
- Decumulation, life & pensions - we do not currently offer these products.
- Investments - we do not currently offer these products.
Details of the number of cases referred to the Financial Ombudsman can be found from visiting their website.
Glossary of complaint terms
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.