More than 200 complaints from county over financial and pensions issues

There were over 200 complaints from Galway to the Financial Services and Pensions Ombudsman over the course of 2022, according to the annual report published last week.

The Ombudsman, Liam Sloyan, received 207 complaints from Galway residents during 2022, as his office delivered outcomes worth over €5 million to consumers in 2022.

“In addition to the financial outcomes totalling over €5 million for individual complainants, the Office played its full part in enhancing the financial services and pensions environment, including in relation to the exit of two major banking providers,” he said.

“The departure of two major financial service providers from the Irish market posed the potential for a high volume of complaints to be made to this Office.

“It is notable that by the end of 2022, the FSPO had received less than 100 complaints identified as relating to market exit. The FSPO collaboratively engaged with stakeholders, including the providers leaving the market, sharing information and making every effort to progress these complaints as quickly as possible, within our resources. It is very positive that, to date, for the vast majority of impacted consumers, the departure of two major banks has not given rise to issues leading to a complaint being made to this Office,” he added.

In all, 4,781 complaints were received in 2022, a slight increase of 123 complaints received in 2021; 4,647 complaints were closed in 2022.

The report revealed that 28% of complaints concerned an issue of customer service; 80% were made by complainants in the Republic of Ireland, with one in five complaints reflecting the cross-border nature of financial services markets.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.