Regulator: Banks not dealing adequately with customer complaints

SOME of the country’s top banks are still not dealing adequately with complaints from customers, the Financial Regulator has said.

Officials from the Office of the Financial Regulator carried out checks on the main retail banks and building societies, both on- and off-site, to check whether their complaints-handling procedures were up to date.

The regulator announced yesterday that, while all institutions had procedures in place which complied with the requirements as set down in the Consumer Protection Code, there were still problems, with 27% of consumers having “no idea” how to complain about a financial product or service.