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At Virgin Money UK, are committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Clydesdale Bank plc
Group: Clydesdale Bank plc
Period covered in this return: 1 October 2019 - 31 March 2020
Brands/trading names covered: Clydesdale Bank, Virgin Money, Yorkshire Bank, B, CYB Intermediaries Limited, Yorkshire Bank Home Loans Limited, Clydesdale Bank Asset Finance and CGF No.9 Limited.
Product / Service Grouping | Provision (at reporting period end date) | Intermediation (within the reporting period) | Number complaints opened | Number of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|---|
Banking & Credit Cards | 3.95 per 1,000 accounts | N/A | 30,244 | 30,609 | 44% | 32% | 67% | General admin / customer service |
Home Finance | 4.04 per 1,000 balances outstanding | N/A | 1,684 | 1,738 | 36% | 47% | 61% | General admin / customer service |
Insurance & Pure Protection | 786.09 per 1,000 policies in force | N/A | 76,778 | 59,435 | 0% | 3% | 32% | Unsuitable advice |
Decumulation & Pensions* | N/A | N/A | 14 | 12 | 50% | 25% | 8% | Unsuitable advice |
Investments* | N/A | N/A | 57 | 94 | 19% | 44% | 13% | Unsuitable advice |
Credit Related | 0.08 per 1,000 accounts / loans | N/A | 596 | 505 | N/A | N/A | 73% | N/A |
*’Decumulation & Pensions’ and ‘Investments’ are complaints Virgin Money UK continue to resolve for legacy products which are owned or administered by third party firms.
To put complaints figures into context, the ‘per 1,000’ accounts / policies metric is used for more meaningful comparisons between different providers.
Banking & Credit Card complaints stem from over seven million products equating to 3.95 complaints per 1,000 relevant accounts.
For every 1,000 home finance loans, 4.04 complaints were received across the six months reporting period.
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.
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 of Virgin Money benefit from consistent complaints handling by our Customer Relations team.
Virgin Money plc are committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 July 2019 - 30 September 2019
Brands/trading names covered: Virgin Money plc
Product / Service Grouping | Number of Complaints opened by volume of business | Number complaints opened | Number of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|
Banking and Credit Cards | 1.94 | 6360 | 5606 | 65% | 33% | 57% | Other general admin/customer service (General admin/customer service) |
Home Finance | 1.81 | 480 | 426 | 47% | 52% | 64% | Other general admin/customer service (General admin/customer service) |
On 26 September 2019, the Court of Session in Edinburgh approved our plans to transfer the business of Virgin Money plc (Virgin Money) to Clydesdale Bank PLC under Part VII of the Financial Services and Markets Act 2000 (FSMA). The transfer happened on the 21 October 2019, which created one bank with over six million customers. From 1 October 2019, complaints will be reported by Clydesdale Bank PLC (Virgin Money UK PLC group). Therefore the data reported here reflects the period 1 July 2019 to 30 September 2019 only.
Virgin Money plc are committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 January 2019 - 30 June 2019
Brands/trading names covered: Virgin Money plc
Product / Service Grouping | Provision at reporting end date (No. of Complaints opened by volume of business) | No. of complaints opened | No. of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|
Banking and Credit Cards | 3.69 | 11875 | 11504 | 71% | 28% | 58% | Other general admin / customer service |
Home Finance | 3.75 | 1000 | 980 | 59% | 40% | 68% | Other general admin / customer service |
Firm Name: Virgin Money Unit Trust Managers
Other firms included in this return (if any): None
Period covered in this return: 1 January 2019 - 30 June 2019
Brands/trading names covered: Virgin Money Unit Trust Managers
Product / Service Grouping | Provision at reporting end date (No. of Complaints opened by volume of business) | No. of complaints opened | No. of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|
Decumulation and pensions | 2.17 | 185 | 184 | 47% | 51% | 52% | Other general admin / customer service |
Investments | 3.44 | 357 | 359 | 29% | 70% | 41% | Other general admin / customer service |
Virgin Money plc are committed to transparency and will provide details of the volumes of complaints.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 July – 31 December 2018
Brands/trading names covered: Virgin Money plc
Product / Service Grouping | Provision at reporting end date | Intermediation within the reporting period | No. of complaints opened | No. of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|---|
Banking and Credit Cards | 3.27
| N/A
| 10122
| 9719
| 61.00% | 38.00% | 65%
| Other general admin / customer service |
Home Finance | 4.49
| N/A
| 1190
| 1144
| 67.00% | 32.00% | 74%
| Other general admin / customer service |
Firm Name: Virgin Money Unit Trust Managers
Other firms included in this return (if any): None
Period covered in this return: 1 July – 31 December 2018
Brands/trading names covered: Virgin Money Unit Trust Managers
Product / Service Grouping | Provision at reporting end date | Intermediation within the reporting period | No. of complaints opened | No. of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|---|
Decumulation and pensions | 2.65
| N/A
| 226
| 244
| 34.00% | 61.00% | 54%
| Other general admin / customer service |
Investments | 3.04
| N/A
| 321
| 329
| 32.00% | 64.00% | 45%
| Other general / customer service |
Virgin Money plc are committed to transparency and will provide details of the volumes of complaints.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 January – 30 June 2018
Brands/trading names covered: Virgin Money plc
Product / Service Grouping | Provision at reporting end date | Intermediation within the reporting period | No. of complaints opened | No. of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|---|
Banking and Credit Cards | 2.31
| N/A
| 7121
| 6901
| 83.00% | 16.80% | 59%
| Other general admin / customer service |
Home Finance | 3.80
| N/A
| 985
| 959
| 63.20% | 36.20% | 71%
| Other general admin / customer service |
Firm Name: Virgin Money Unit Trust Managers
Other firms included in this return (if any): None
Period covered in this return: 1 January – 30 June 2018
Brands/trading names covered: Virgin Money Unit Trust Managers
Product / Service Grouping | Provision at reporting end date | Intermediation within the reporting period | No. of complaints opened | No. of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|---|
Decumulation and pensions | 1.88
| N/A
| 161
| 155
| 45.16% | 50.96% | 51%
| Other general admin / customer service |
Investments | 4.42
| N/A
| 474
| 478
| 47.07% | 50.83% | 37%
| Other general / customer service |
Virgin Money plc are committed to transparency and will provide details of the volumes of complaints.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 July – 31 December 2017
Brands/trading names covered: Virgin Money plc
Complaint type | Number of complaints opened per 1,000 accounts / balances | Intermediation within the reporting period | No. of complaints opened | No. of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|---|
Banking and Credit Cards | 2.68
| N/A
| 7652
| 7853
| 60.59% | 38.76% | 61%
| Other general admin / customer service |
Home Finance | 3.79
| N/A
| 979
| 1003
| 54.14% | 45.46% | 71%
| Errors / not following instructions |
Previously complaints were reported under VM Unit Trust Managers and VM Personal Financial Services. To drive efficiency and simplicity, during March 2017 Virgin Money moved the management of all of its Investment & Pensions business to one legal entity, VM Unit Trust Managers.
Firm Name: Virgin Money Unit Trust Managers
Other firms included in this return (if any): None
Period covered in this return: 1 July – 31 December 2017
Brands/trading names covered: Virgin Money Unit Trust Managers
Product / Service Grouping | Number of complaints opened per 1,000 accounts / balances | Intermediation within the reporting period | No. of complaints opened | No. of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|---|
Decumulation and pensions | 1.65
| N/A
| 141
| 146
| 23% | 74% | 54%
| Other general admin / customer service |
Investments | 3.70
| N/A
| 391
| 392
| 39% | 57% | 50%
| Other general / customer service |
Virgin Money plc are committed to transparency and will provide details of the volumes of complaints.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 January – 30 June 2017
Brands/trading names covered: Virgin Money plc
Complaint type | Number of complaints opened per 1,000 accounts / balances | No. of complaints opened | No. of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|
Banking and Credit Cards | 2.07
| 5671
| 5749
| 44%
| 55% | 66% | Errors / not following instructions
|
Home Finance | 3.86
| 967
| 991
| 42%
| 57% | 72% | Errors / not following instructions
|
Insurance and pure protection | n/a
| n/a
| n/a
| n/a
| n/a | n/a | n/a
|
Decumulation and pensions | n/a
| n/a
| n/a
| n/a
| n/a | n/a | n/a
|
Investments | n/a
| n/a
| n/a
| n/a
| n/a | n/a | n/a
|
Credit Related | n/a
| n/a
| n/a
| n/a
| n/a | n/a | n/a
|
Virgin Money plc is committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 July 2016 - 31 December 2016
Brands/trading names covered: Virgin Money plc
Complaint type | Number of complaints opened per 1,000 accounts / balances | No. of complaints opened | No. of complaints closed | Percentage closed within 3 days | Percentage after 3 days but within 8 weeks | Percentage upheld | Main cause of complaint opened |
---|---|---|---|---|---|---|---|
Banking and Credit Cards | 1.70
| 4407
| 4277
| 31%
| 68% | 71% | Errors / not following instructions
|
Home Finance | 3.55
| 858
| 855
| 16.5%
| 83% | 67% | Errors / not following instructions
|
General insurance and pure protection | n/a
| n/a
| n/a
| n/a
| n/a | n/a | n/a
|
Decumulation, life and pensions | n/a
| n/a
| n/a
| n/a
| n/a | n/a | n/a
|
Investments | n/a
| n/a
| n/a
| n/a
| n/a | n/a | n/a
|
Credit Related | n/a
| n/a
| n/a
| n/a
| n/a | n/a | n/a
|
In line with changes to FCA Complaint Reporting requirements, the table above now includes all complaints received by Virgin Money including those resolved by the end of the next business day. To put the figures into context:
Virgin Money plc is committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 January 2016 - 30 June 2016
Brands/trading names covered: Virgin Money plc
Complaint type | No. of complaints opened | No. of complaints closed | Complaints closed within eights weeks (%) | Complaints upheld by firm (%) |
---|---|---|---|---|
Banking and Credit Cards | 2653 | 2697 | 99% | 56% |
Home Finance | 634 | 616 | 100% | 56% |
General insurance and pure protection | 948 | 992 | 100% | 0% |
Decumulation, life and pensions | n/a | n/a | n/a | n/a |
Investments | 1 | 1 | 100% | 0% |
To put the figures above into context:
Virgin Money plc is committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 July 2015 - 31 December 2015
Brands/trading names covered: Virgin Money plc
Complaint type | No. of complaints opened | No. of complaints closed | Complaints closed within eights weeks (%) | Complaints upheld by firm (%) |
---|---|---|---|---|
Banking and Credit Cards | 3100 | 3169 | 100% | 63% |
Home Finance | 675 | 711 | 100% | 56% |
General insurance and pure protection | 943 | 901 | 98% | 0% |
Decumulation, life and pensions | n/a | n/a | n/a | n/a |
Investments | 3 | 4 | 100% | 25% |
To put the figures above into context:
Virgin Money plc is committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 January 2015 - 30 June 2015
Brands/trading names covered: Virgin Money plc
Complaint type | No. of complaints opened | No. of complaints closed | Complaints closed within eights weeks (%) | Complaints upheld by firm (%) |
---|---|---|---|---|
Banking and Credit Cards | 2368 | 2113 | 100% | 58% |
Home Finance | 854 | 833 | 100% | 53% |
General insurance and pure protection | 859 | 824 | 100% | 0.12% |
Decumulation, life and pensions | n/a | n/a | n/a | n/a |
Investments | 3 | 2 | 100% | 50% |
To put the figures above into context:
Virgin Money plc is committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 July 2014 - 31 December 2014
Brands/trading names covered: Virgin Money plc
Complaint type | No. of complaints opened | No. of complaints closed | Complaints closed within eights weeks (%) | Complaints upheld by firm (%) |
---|---|---|---|---|
Banking | 545 | 568 | 100% | 46% |
Home Finance | 842 | 856 | 100% | 47% |
General insurance and pure protection | 1 | 2 | 100% | 0% |
Decumulation, life and pensions | n/a | n/a | n/a | n/a |
Investments | n/a | n/a | n/a | n/a |
To put the figures above into context:
Virgin Money plc is committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 January - 30 June 2014
Brands/trading names covered: Virgin Money plc
Complaint type | No. of complaints opened | No. of complaints closed | Complaints closed within eights weeks (%) | Complaints upheld by firm (%) |
---|---|---|---|---|
Banking | 791 | 772 | 100% | 53% |
Home Finance | 710 | 675 | 100% | 48% |
General insurance and pure protection | 5 | 4 | 100% | 75% |
Decumulation, life and pensions | n/a | n/a | n/a | n/a |
Investments | n/a | n/a | n/a | n/a |
To put the figures above into context:
Virgin Money plc is committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 July - 31 December 2013
Brands/trading names covered: Virgin Money plc
Complaint type | No. of complaints opened | No. of complaints closed | Complaints closed within eights weeks (%) | Complaints upheld by firm (%) |
---|---|---|---|---|
Banking | 675 | 677 | 100% | 55% |
Home Finance | 701 | 721 | 100% | 48% |
General insurance and pure protection | 12 | 12 | 100% | 42% |
Decumulation, life and pensions | n/a | n/a | n/a | n/a |
Investments | n/a | n/a | n/a | n/a |
To put the figures above into context:
Virgin Money plc is committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 January - 30 June 2013
Brands/trading names covered: Virgin Money plc
Complaint type | No. of complaints opened | No. of complaints closed | Complaints closed within eights weeks (%) | Complaints upheld by firm (%) |
---|---|---|---|---|
Banking | 490 | 481 | 100% | 56% |
Home Finance | 706 | 979 | 100% | 55% |
General insurance and pure protection | 3 | 5 | 100% | 20% |
Decumulation, life and pensions | n/a | n/a | n/a | n/a |
Investments | n/a | n/a | n/a | n/a |
To put the figures above into context:
Virgin Money plc is committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Virgin Money plc
Other firms included in this return (if any): None
Period covered in this return: 1 July - 31 December 2012
Brands/trading names covered: Virgin Money plc
Complaint type | No. of complaints opened | No. of complaints closed | Complaints closed within eights weeks (%) | Complaints upheld by firm (%) |
---|---|---|---|---|
Banking | 606 | 658 | 100% | 72% |
Home Finance | 1,092 | 919 | 99% | 54% |
General insurance and pure protection | 6 | 4 | 100% | 50% |
Decumulation, life and pensions | n/a | n/a | n/a | n/a |
Investments | n/a | n/a | n/a | n/a |
To put the figures above into context:
Virgin Money plc is committed to transparency and will provide details of the volumes of complaints we receive that are reportable to the Financial Conduct Authority.
Firm Name: Northern Rock plc
Other firms included in this return (if any): None
Period covered in this return: 1 January - 30 June 2012
Brands/trading names covered: Northern Rock
Complaint type | No. of complaints opened | No. of complaints closed | Complaints closed within eights weeks (%) | Complaints upheld by firm (%) |
---|---|---|---|---|
Banking | 1,249 | 1,449 | 100% | 62% |
Home Finance | 1,111 | 1,205 | 99% | 50% |
General insurance and pure protection | 7 | 10 | 100% | 40% |
Decumulation, life and pensions | n/a | n/a | n/a | n/a |
Investments | n/a | n/a | n/a | n/a |
To put the figures above into context: