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Banking ignores 36% of customer complaints the Bank of Spain accepts

According to the report of 2017, 5,927 complaints were filed in which the entity worked wrong, but only rectified in 3,552 cases

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Banking ignores 36% of customer complaints the Bank of Spain accepts

The banks are reluctant to rectify in all cases in which Bank of Spain says that its customers are right. According to last report of supervisor, which analyses all 2017, 5,927 complaints were filed in which entity had worked incorrectly. However, banks only assumed ir error in 3,552 cases, 64% of total, and in or 2,017 occasions have maintained ir position, so that customers only have to go to judicial route, which is expensive and slow. The legislation does not oblige entities to comply with opinion of supervisor, even if it is claimed that re has been bank abuse.

The figures for 2017 assume a change from previous situation in claims. In fact, y are almost inverse, i.e. in 2016, banks only rectified in 36.8% of cases in which Bank of Spain gave reason to customers. Now, financial sector rectifies in 64% of cases, almost twice as much.

Why this change of attitude? The Bank has amended its proceeding after checking deep discomfort of Banco de España for its attitude. The supervisor understood that sector had an unwillingness to tackle problem of claims, something that directly affects reputation of bank, according to sources of supervisor in a previous hearing. The entities that were most reluctant to admit ir mistakes were subjected to strict controls on ir trade policy, including a new service improvement protocol, which has had effects.

Click on almost tripled photocomplaints

In total, in 2017 Bank of Spain received 40,176 complaints from bank customers, record number and 277% more than previous year, when y received 14,462. Among raids (prior agreement) and Times entity admitted its error, a total of 5,243 claims achieved its goal, which is only 13% of total. On way y have remained 87% of cases, but for very different reasons. 81% of complaints are mortgage-related, 8% with accounts and deposits and 3.6% with cards. 358 complaints remain to be resolved.

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Anor element that has helped banks recognize ir mistakes is that judicial path is being very unfavourable. According to General Council of Judiciary (CGPJ), from April 2017 to March 2018, courts specializing in mortgages have received 208,651 cases and have resolved in total 29,849, 14%. That is, each weekday (with unskilled August) arises 915 cases against banks and resolves 128. 97.6% of sentences have been favorable to customers.

But problem is greater because before reaching bank of Spain customers should claim ir entity. Last year, only quoted bank — Santander, BBVA, CaixaBank, Bankia, Sabadell and Popular — received more than 864,884, according to entities mselves. The figure is four times higher than that of 2016, to a large extent, according to sector, by rise of complaints about land clauses and distribution of mortgage expenses, as it was five days ahead. Of se complaints, only client was given reason in 21% of cases, according to entities mselves.

Perhaps by this barrage of protests, in 1,691 occasions, as soon as Bank of Spain informed entity that it had a complaint put by a certain client, bank affected was raided, ie, admitted its guilt. From that moment on, procedure is cancelled.

"Higher rectification rates are welcome as y are supposed to resolve controversy in favor of customer. On or hand, y encourage Department of Market conduct and claims to include in ir supervisory actions specific actions aimed at inducing entities to assume ir criteria in earlier stages of grievance procedure and even, Ideally, at its origin, " supervisor's sources pointed out.

Half of demands, incomplete or inappropriate

Half of complaints received by Bank of Spain, 20,149 in total in 2017, were not admitted or had insufficient documentation. According to report, 12,676 claims were inadmissible for varied reasons, although most common was that y were directed against entities not supervised by Bank of Spain.

"In 7,473 occasions, interested party was asked to provide some documentation, without having responded to date", official report says, so it is officially filed. Most of cases are customers who had not previously submitted claim to affected entity, an inescapable step. Anor big block, 8,800 files, are pertinent but "no pronouncement can be issued," says Bank of Spain. The majority of se are mortgage formalization expenses, so supervisor "requires entity" to comply with supreme judgement.

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