At Virgin Money UK, we are committed to delivering a high standard of customer service and putting our customers at the heart of everything we do.
We work hard to do this but recognise that we do not always get things right. If this happens please tell us as soon as possible providing us with the opportunity to resolve your complaint, or query. Your valued feedback helps us to improve our service and products.
Firm Name: Clydesdale Bank plc
Group: Clydesdale Bank plc
Period covered in this return: 01st October 2020 – 31st March 2021
Brands/trading names covered: B, CGF No.9 Limited, Clydesdale Bank, Clydesdale Bank Asset Finance, CYB Intermediaries Limited, Virgin Money, Yorkshire Bank and Yorkshire Bank Home Loans Limited.
|Product/ Service Group||Provision (at reporting period end date)||Intermediation (within the report period)||Number of complaints opened||Number of complaints closed||Percentage closed within 3 days||Percentage closed after 3 days but within 8 weeks||Percentage upheld||Main cause of complaints opened|
|Banking & credit cards||4.24 per 1,000 accounts||N/A||32,649||30,319||40%||58%||73%||General admin/customer service|
|Home finance||4.83 per 1,000 balances outstanding||N/A||1,941||1,957||32%||61%||70%||General admin/customer service|
|Insurance & pure protection||39.07 per 1,000 policies in force||N/A||3,435||38,550||0%||7%||43%||Unsuitable advice|
|Decumulation & pensions*||N/A||N/A||16||15||20%||73%||0%||Product performance / features|
|Credit related||0.15 per 1,000 accounts/loans||N/A||1,146||1,064||N/A||N/A||80%||N/A|
To put complaints figures into context, the ‘per 1,000’ accounts / policies metric is used for more meaningful comparisons between different providers.
*’Decumulation & Pensions’ and ‘Investments’ are complaints Clydesdale Bank Plc continue to resolve for legacy products which are owned or administered by third party firms.
Virgin Money UK operates under the legal entity of Clydesdale Bank PLC and all data submitted to the Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS) is done so on this basis. Customers benefit from consistent complaints handling by our Customer Assist team.