Firm Complaints Statistics

Here you can find summary complaints statistics for each financial services provider (FSP) on complaints investigated and closed by CIFO.

CIFO’s role is to resolve complaints about financial services provided in or from the Channel Islands of Jersey, Guernsey, Alderney and Sark. Some complaints can be resolved by CIFO adjudicators helping the complainant and the FSP agree a fair outcome; these are classed as mediated complaints. Others, particularly where the parties cannot agree, will require an ombudsman to issue a formal decision on the complaint. Where a complaint has been mediated or decided in favour of a complainant it is classed as “Upheld”. Alternatively, where a complaint has been mediated or decided in favour of an FSP it is classed as “Not Upheld”.

We will update this page annually with new closed complaints to create a comprehensive and searchable record.

You can refine your search as desired by using the drop-down lists below. To locate complaints for a specific FSP, type the name of the entity in the “Firm Name” search tab or select the name from the drop-down list. Once you have refined your search options, click ‘Search’ to display the total number of closed complaints that match your search criteria.

Readers of the following summary complaints statistics should take care in drawing conclusions from the data. There are numerous factors that can influence the volume and nature of complaints made against a particular FSP. These can include:

• Some sub-sectors within the financial services industry will generate more complaints than others in relation to their number of total customers.
• Some sub-sectors have more transactions (or customer interactions) per customer than others which can result in higher complaint volumes.
• Some FSPs are larger and can have more customers which can result in more complaints even if the number of complaints as a ratio of its total customer base is lower than other comparable FSPs.
• FSPs within the same sub-sector (e.g., retail banking) can have a different mix of products and services with some types of products and services being more likely to generate complaints than others (e.g., credit card accounts, current accounts with debit cards, savings accounts).

It is also important to note that a higher volume of complaints does not necessarily have a negative connotation and may simply result from an FSP’s more effective signposting of its customers with unresolved complaints to our office.