RateSetter complaints data

Complaints data

Complaints are an opportunity to learn what works and what doesn’t, so we take them very seriously. We want to make sure your RateSetter experience is as positive as possible, and will do everything to resolve your complaint as quickly as possible.
 
We do our best to get everything perfect, but on occasion something can go wrong. We publish information about the number of complaints we’ve received every six months, in an effort to show you how we’re doing. We also send this information to our regulator, the Financial Conduct Authority (FCA).
 
The table below shows all complaints received between January and June 2022. We publish all data on all the complaints we’ve received, including those which were resolved immediately.
 
The majority of complaints we received were resolved in three days or less, and we aim to resolve matters at the first point of contact wherever possible.
Firm Name Metro Bank
Group (If Applicable) N/A
Other firms included in this report (If any) N/A
Period covered in this report 01 January 2022 – 30 June 2022
Brands/Trading names covered RateSetter

Number of complaints opened by volume of business

Product / Service Group Credit Related Investments
Provision (at reporting period end date)*

6.48 per 1,000 accounts

N/A per 1000 client accounts
Intermediation (within the reporting period)* N/A Per 1000 sales or equivalent transactions
Number of complaints opened 1133 14
Number of complaints closed 1089 14
Percentage closed within 3 days 75% 7%
Percentage closed after 3 days but within 8 weeks 25% 93%
Percentage upheld 25% 29%
Main cause of complaints opened
N/A
Other general admin/customer service

Glossary

Provision: Where the firm is the provider of the product, using the total volume of accounts held at the end of the reporting period

Percentage upheld: The percentage of complaints where we have found in favour of our customer

RateSetter is a trading name of Metro Bank PLC specialising in delivering market-leading personal loans. For more information about Metro Bank please visit https://www.metrobankonline.co.uk/help-and-support/forms/give-us-feedback/complaints-data/.

Note: complaints data for Retail Money Market Ltd has been reported as nil.