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 2025 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.
- Simplifying our products and services and the processes behind them.
So you can see how we are doing, we've provided a summary of our complaints data for the second half of 2024.
Firm name: Marks & Spencer Financial Services Plc
Group: HSBC Group
Period covered: 1 July - 31 December 2024
| 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 | % upheld* | Main cause of complaints opened |
|---|---|---|---|---|---|---|---|
| Banking & Credit Cards | 3.01 per 1,000 accounts | 8,226 | 7,834 | 57.7% | 41.7% | 64.7% | Other |
| Home Finance ** | 0.00 per 1,000 balances outstanding | 0 | 0 | 0.0% | 0.0% | 0.0% | n/a |
| Insurance and Pure Protection *** | 0.14 per 1,000 policies in force | 112 | 174 | 59.2% | 40.2% | 34.5% | 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 | 5.9 per 1,000 accounts | 1,178 | 1,159 | 45.2% | 53.6% | 74.2% | Errors/not following instructions |
| Product / service grouping | Banking & Credit Cards |
|---|---|
| Number of complaints opened by volume of business | 3.01 per 1,000 accounts |
| No. of complaints opened | 8,226 |
| No. of complaints closed | 7,834 |
| % closed within 3 days | 57.7% |
| % closed after 3 days but within 8 weeks | 41.7% |
| % upheld* | 64.7% |
| Main cause of complaints opened | Other |
| Product / service grouping | Home Finance ** |
| Number of complaints opened by volume of business | 0.00 per 1,000 balances outstanding |
| No. of complaints opened | 0 |
| No. of complaints closed | 0 |
| % closed within 3 days | 0.0% |
| % closed after 3 days but within 8 weeks | 0.0% |
| % upheld* | 0.0% |
| Main cause of complaints opened | n/a |
| Product / service grouping | Insurance and Pure Protection *** |
| Number of complaints opened by volume of business | 0.14 per 1,000 policies in force |
| No. of complaints opened | 112 |
| No. of complaints closed | 174 |
| % closed within 3 days | 59.2% |
| % closed after 3 days but within 8 weeks | 40.2% |
| % upheld* | 34.5% |
| Main cause of complaints opened | Other general admin/customer service |
| Product / service grouping | Investments |
| Number of complaints opened by volume of business | 0.00 per 1,000 client accounts |
| No. of complaints opened | 0 |
| No. of complaints closed | 0 |
| % closed within 3 days | 0.0% |
| % closed after 3 days but within 8 weeks | 0.0% |
| % upheld* | 0 |
| Main cause of complaints opened | n/a |
| Product / service grouping | Decumulation and Pensions |
| Number of complaints opened by volume of business | n/a |
| No. of complaints opened | n/a |
| No. of complaints closed | n/a |
| % closed within 3 days | n/a |
| % closed after 3 days but within 8 weeks | n/a |
| % upheld* | n/a |
| Main cause of complaints opened | n/a |
| Product / service grouping | Credit Related |
| Number of complaints opened by volume of business | 5.9 per 1,000 accounts |
| No. of complaints opened | 1,178 |
| No. of complaints closed | 1,159 |
| % closed within 3 days | 45.2% |
| % closed after 3 days but within 8 weeks | 53.6% |
| % upheld* | 74.2% |
| Main cause of complaints opened | Errors/not following instructions |
In the last six months of 2024 we also opened 20 complaints relating to M&S Unit Trust Management Ltd.
* Complaints upheld by firm refers to the percentage of complaints the bank has found in the customer's favour either in whole or part.
** The number of complaints per 1,000 policies sold within the Home Finance category relates to our mortgage product.
*** 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.