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Clydesdale Bank Complaint Data

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 April 2020 – 30th September 2020

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 3.43 per 1,000 accounts N/A 26,036 28,525 39% 44% 70% General admin/customer service
Home finance 4.67 per 1,000 balances outstanding N/A 1,905 1,932 34% 54% 69% General admin/customer service
Insurance & pure protection 223.33 per 1,000 policies in force N/A 20,876 42,761 0% 2% 43% Unsuitable advice
Decumulation & pensions* N/A N/A 11 14 21% 79% 36% Unsuitable advice
Investments* N/A N/A 26 33 30% 55% 18% Unsuitable advice
Credit related 0.12 per 1,000 accounts/loans N/A 941 957 N/A N/A 82% N/A

To put complaints figures into context, the ‘per 1,000’ accounts / policies metric is used for more meaningful comparisons between different providers.

Insurance & Pure Protection figures are influenced by the FCA's PPI deadline to claim; 29th August 2019. It is anticipated high volumes will also be reflected in the next reporting period.

*’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.

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