Money Box

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The latest news from the world of personal finance

The latest news from the world of personal finance plus advice for those trying to make the most of their money.

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Money Box: Rise in complaints about banks to Ombudsman

12/12/2020

Rise in complaints about banks to Ombudsman

BBC Radio 4 - Money Box, Rise in complaints about banks to Ombudsman

New figures show complaints to the Ombudsman about banks have gone up by a third.

New figures show complaints to the Ombudsman about banks have gone up by a third, Klarna's UK boss talks about regulatory issues, more DWP fraud and big leasehold changes.

Exclusive figures from the Financial Ombudsman Service show a big increase in the number of complaints about banks in relation to fraud and scams. The stats show the FOS upholds 32% of complaints on average – but when it comes to fraud and scam cases that number nearly doubles to 58%. What does the FOS think about recent reports in the press that suggests banks are trying to get out of their voluntary code to refund victims of fraud? We hear from one case study who had £13,200 stolen 18 months ago and was refused a refund, until Money Box got involved. Paul talks to Debbie Enever from the Financial Ombudsman Service

In an exclusive interview Paul speaks to Alex Marsh, the UK boss of the biggest player in the Buy Now Pay Later market. The FCA is currently working on its review into BNPL as the industry braces itself for the prospect of regulation

More listeners have been contacting Money Box to tell us they are being pursued for debts of over £1000 by the Department for Work and Pensions. It is trying to recover a payment they have never had from a benefit they are not claiming. We hear from some of those affected.

Five major house builders are changing the way they sell new leasehold flats. Sebastian Kelly from the Leasehold Knowledge Partnership explains all.

Producers: Ben Carter and Darin Graham
Reporter: Dan Whitworth
Editor: Emma Rippon

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