Complaints relating to banking services jump, says ombudsman

Meanwhile, separate banking industry figures confirmed modest recovery in mortgage lending so far this year but the switching market has dried up because of high interest rates

Figures from the Banking and Payments Federation of Ireland showed a total of 3,582 mortgages were approved in February with first-time buyers approved for 60.6% of total volume. 

The Financial Services and Pensions Ombudsman, or FSPO, suggested poor customer service in the retailing banking sector fuelled a jump in complaints reported last year.

The FSPO received a record number of complaints in 2023, surging 29% compared to the previous year, to 6,182.