Financial services ombudsman received 103 complaints from Donegal last year

The Financial Services and Pensions Ombudsman received 103 complaints from Donegal in 2021.

Some 4,123 complaints were received from Ireland throughout the year, ombudsman’s overview of complaints for 2021 shows.

A total of 4,658 complaints were received in 2021 and 5,010 complaints were closed. 

Banking complaints represented 57% of all complaints received, and the conduct most complained of for those banking complaints was customer service.

Complaints concerning mortgages accounted for 23% of all complaints received in 2021. This includes 250 new tracker mortgage complaints during 2021, twelve years after the first tracker mortgage complaints were received in 2009.

Insurance products were the subject of 27% of complaints (1,257), most commonly concerning claim handling or rejection of an insurance claim.  

The report shows 8% of complaints (352) received related to investment products, an increase on the previous year. Maladministration and customer service issues were the conducts most complained of, but there was an increase in complaints relating to online investment fraud, and risks from online engagement.  

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Pension schemes were involved in 4% of complaints (186), with maladministration accounting for 30% of the complaints received.  In addition to 600 COVID-19 related complaints received in 2020, a further 275 new complaints were received in 2021 where the complainant introduced Covid-19-19 as an element of their complaint.  

 he acting Financial Services and Pensions Ombudsman (FSPO) Mary Rose McGovern said: “In 2021, the FSPO delivered significant outcomes for complainants with €4.6m in mediated settlements achieved through our Dispute Resolution Service and €941,328 in compensation directed in legally binding decisions. In addition, over €944,000 was paid to complainants by providers to resolve complaints during the formal investigation process. 

“Ninety-one complaints were not upheld due to a reasonable and adequate offer of redress being available for acceptance by the complainant and these offers totalled €667,993. These outcomes demonstrate the monetary value of the services provided by the FSPO during 2021. What is less quantifiable is the importance of having an avenue of redress in sometimes challenging and difficult circumstances where complaints against financial service providers or pension providers remain unresolved.”