Complaint Data 2021 H1
We pride ourselves on the quality of our service but recognise that, on occasions, things can go wrong. If you are unhappy with any aspect of our service, then we would like to know about it. We value feedback from customers as it augments our ongoing assurance processes and provides us with data that we can analyse to identify root causes of complaint in the first place thus enabling us to take appropriate steps to prevent this recurring in the future.
Set out below are details of the volumes of complaints reported to the Financial Conduct Authority (FCA) in our last reporting period. To see how Secure Trust Bank and other firms performed previously, please see the FCA's complaints data table.
- Firm Name
- Secure Trust Bank
- Group
- Secure Trust Bank PLC
- Other firms included in this reporting (if any)
- None
- Period covered in this report
- 1 Jan 2021 to 30 June 2021
- Brands/trading names covered
- Secure Trust Bank PLC, Moneyway, OneBill, V12 Retail Finance, V12 Vehicle Finance
| Number of complaints opened by volume of business | ||||||||
|---|---|---|---|---|---|---|---|---|
| Product/ Service grouping | Provision (at reporting period end date) | Intermediation (within the reporting period) | Number of complaints opened | Number of complaints closed | Complaints closed within 3 days (%) | Complaints closed after 3 days but within 8 weeks (%) | Closed complaints upheld by firm (%) * | Main cause of complaint opened |
| Banking and credit cards | 4.01 per 1000 accounts | - | 198 | 182 | 32% | 67% | 47% | General admin / customer service |
| Home finance | 159.78 per 1000 balances outstanding | - | 58 | 65 | 22% | 78% | 46% | Errors / not following instructions |
| Insurance and pure protection | 0.00 per 1000 policies in force | - | 2 | 2 | 0% | 100% | 50% | Errors / not following instructions |
| Decumulation, life and pensions | ||||||||
| Investments | ||||||||
| Credit-related | 2.51 (Recommended only) per 1000 accounts/loans | - | 1,805 | 1,881 | N/A | N/A | 42% | N/A |
*This is where we have agreed with the customer that their complaint was justified either in whole or in part.
To put the above figures into context:
- Our 198 Banking complaints have resulted from 49,399 live accounts which equates to 4.01 complaints per 1000 customer accounts.
- For every 1000 Home Finance loans we had outstanding we received 159.78 complaints. There were 3 STB Mortgage complaints during the reporting period, the remainder relate to our OneBill budgeting account. The OneBill budgeting account has gradually been wound down during the reporting period, this accounts for the high number of complaints per 1000 accounts outstanding.
- Our 2 Insurance & Pure Protection complaints equates to 0.00 complaints per 1000 policies as there are currently 0 live policies.
- Our Credit related complaints have resulted from 720,148 live agreements which equates to 2.51 complaints per 1000 accounts.
Complaints Procedure
For information on how we deal with complaints please see our complaints procedure.