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Complaint Data H2 2023

We pride ourselves on the quality of our service but recognise that, on occasions, things can go wrong. If you are unhappy with any aspect of our service, then we would like to know about it. We value feedback from customers as it augments our ongoing assurance processes and provides us with data that we can analyse to identify root causes of complaint in the first place thus enabling us to take appropriate steps to prevent this recurring in the future.

Set out below are details of the volumes of complaints reported to the Financial Conduct Authority (FCA) in our last reporting period. To see how Secure Trust Bank and other firms performed previously, please see the FCA's complaints data table.

Firm Name: Secure Trust Bank

Group: Secure Trust Bank Plc

Other firms included in this reporting (if any): None

Period covered in this report: 1 July 2023 to 31 December 2023

Brands/trading names covered: Secure Trust Bank PLC, Moneyway, OneBill, V12 Retail Finance, V12 Vehicle Finance, V12VF, AppToPay.   

 H2 2023 Number of complaints opened by volume of business
Product/Service grouping Provision (at reporting period end date) Intermediation (within the reporting period) Number of complaints opened Number of complaints closed Complaints closed within 3 days (%) Complaints closed after 3 days but within 8 weeks (%) Closed complaints upheld by firm (%) * Main cause of complaint opened
Banking and credit cards 6.25 per 1000 accounts   525 501 7.78% 92.02% 42.12% General Admin/ Customer Service
Home finance 0.00 per 1000 balances outstanding   1 1 0% 100% 100% General Admin/ Customer Service
Insurance and pure protection                
Decumulation, life and pensions                
Credit-related 2.91 per 1000 accounts/ loans   2863 2871 N/A N/A 41.21% N/A

*This is where we have agreed with the customer that their complaint was justified either in whole or in part.

To put the above figures into context:

  • Our 525 Banking complaints have resulted from 84,060 live accounts which equates to 6.25 complaints per 1000 customer accounts.
  • We received 1 new Home Finance complaints during the reporting period. The complaint related to our now closed OneBill account. This equates to 0 complaints per 1000 accounts as there are 0 live accounts. 
  • No new Insurance & Pure Protection complaints were received during the reporting period.
  • Our Credit related complaints have resulted from 982,445 live agreements/accounts which equates to 2.91 complaints per 1000 accounts.

Complaints Procedure

For information on how we deal with complaints please see our complaints procedure.