Complaints data

See how well we're dealing with customer complaints

At M&S Bank, we've always worked hard to exceed our customers' expectations. We know we don't always get things right; that's why customer feedback is so important. It gives us insight into the areas where we need to improve.

What matters is to fix the right things - those things that matter most to our customers. So, through our customer surveys and social media pages, please keep letting us know how we're doing. We'll continue to improve what we do, so that we deliver an excellent service we can be proud of.

In 2024 our key priorities will continue to be:

  • Listening to our customers through their feedback and responses to customer surveys.
  • Working on the root causes of complaints and the individual outcomes for our customers, so issues can be fixed properly first time.
  • Looking at all the different interactions customers have with us, so we can make the whole banking experience better.

So you can see how we are doing, we've provided a summary of our complaints data for the second half of 2023.

Firm name: Marks & Spencer Financial Services Plc
Group: HSBC Group
Period covered: 1 July - 31 December 2023
Trading names covered: M&S Money, M&S Bank, M&S Insurance, M&S Savings and Investments, M&S Unit Trust Management Ltd

Product / service grouping Number of complaints opened by volume of business No. of complaints opened No. of complaints closed % closed within 3 days % closed after 3 days but within 8 weeks % upheldFootnote 2* Main cause of complaints opened
Banking & Credit Cards 3.48 per 1,000 accounts 9,668 7,902 66.8% 32.0% 67.4% Other general admin/customer service
Home Finance Footnote 2** 0.00 per 1,000 balances outstanding 0 0 0.0% 0.0% 0.0% n/a
Insurance and Pure Protection Footnote 3*** 0.17 per 1,000 policies in force 160 160 71.9% 28.1% 53.1% Other general admin/customer service
Investments 0.00 per 1,000 client accounts 0 0 0.0% 0.0% 0 n/a
Decumulation and Pensions n/a n/a n/a n/a n/a n/a n/a
Credit Related 3.46 per 1,000 accounts 642 495 48.1% 48.7% 69.3% Errors/not following instructions

In the last six months of 2023 we also opened 20 complaints relating to M&S Unit Trust Management Ltd.

Footnote 1* Complaints upheld by firm refers to the percentage of complaints the bank has found in the customer's favour either in whole or part.

Footnote 2** The number of complaints per 1,000 policies sold within the Home Finance category relates to our mortgage product.

Footnote 3*** The number of complaints per 1,000 policies in the Insurance and Pure Protection category now include complaints from customers regardless of whether they purchased a product.

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