RateSetter Complaints Data

Complaints data

Continually improving the service we offer and reducing the number of complaints we receive is very important to us. We regularly review the information we have about your complaints, which helps us to understand how we can make improvements.

What we publish 

Every 6 months we publish the number of customer complaints we've received for the previous half year. We also put these figures into context using the type of products complained about.

Why we publish

The FCA require us to provide this information directly to them as well as on our own website, just as other firms have to. This data can be used as an indicator of how well we're serving our customers, for comparison purposes and also demonstrates the improvements we're making to reduce the number of complaints we receive.

 

 

 

 

Firm Name RateSetter
Group (If Applicable) Retail Money Market Limited
Other firms included in this report (If any) -
Period covered in this report
01 April 2020 – 31 December 2020
Brands/Trading names covered RateSetter

Number of complaints opened by volume of business

Product / Service
Group
Investments
Provision (at reporting period end date)*
39.29 per 1000 client accounts
Intermediation (within the
reporting period)*
Per 1000 sales or equivalent transactions
Number of complaints opened 2344
Number of complaints closed 2337
Percentage closed within
3 days
85%
Percentage closed after
3 days but
within
8 weeks
15%
Percentage upheld 25%
Main cause of complaints opened
Information, sums/ charges or product performance

Glossary

The following definitions have been used in the assembling of this data.
 
A degree of overlap may be due to some complaints are opened in one reporting period and closed in another.
 
Number of Complaints Opened - This includes all complaints received during the reporting period of 1 April 2020 to 31 December 2020.
 
Number of Complaints Closed - A complaint is deemed closed once RateSetter has issued its final decision or the customer has indicated that they accept our response.
 
Complaints Closed within Eight Weeks - This includes complaints which were closed within eight weeks of the date of receipt.
 
Complaints Upheld by Firm - This includes complaints where RateSetter agreed with the customer that their complaint was justified, either in whole or in part. We may have offered redress, where appropriate.