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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 March 2016 - 31 August 2016

Brands/trading names covered: Tesco Bank

No. of complaints openedNo. of complaints closedComplaints closed within 8 weeks (%)Complaints upheld by firm (%)Complaints per 1,000 customers
Banking5,9536,24099.80%54%1
Home Finance134143100%67%n/a
GI & Pure Protection16,38916,501100%20%2.7
Decumulation, life & pensionsn/an/an/an/an/a
Investmentsn/an/an/an/an/a

To put these figures into context:

  • 22,476 complaints were received over the period, which is a 10% reduction from the previous 6 months.
  • 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 5.9 million Banking accounts made up from our Savings, Loans, Credit Card and Current Account products and 1.26 million Car and Home Insurance policies in force.
  • From 1 September 2016 we are required to report enhanced complaint information to the Financial Conduct Authority (FCA). These changes will be reflected in our August 2017 website publication of complaints data. The data in the table above relates only to complaints that were reportable to the FCA between 01 March 2016 – 31 August 2016.

Details of the number of cases referred to the Financial Ombudsman Service 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.