Financial services companies recorded a 2.6% fall in new complaints between January and June 2016 compared to the previous six months, according to new complaints data published by the Financial Conduct Authority (FCA).
The regulator said it received the total number of 2.05 million complaints during the period.
While, payment protection insurance (PPI) was the most complained about product, remaining more or less unchanged at 0.93 million. Without PPI, the number of complaints was 1.12 million.
The regulator revealed that complaints about current accounts recorded the largest drop – 46,000 or 10%.
FCA director of strategy and competition Christopher Woolard said: “To see another six months of reduction in the total number complaints is encouraging.
“Firms still need to continue to ensure they are doing all they can to reduce consumer dissatisfaction, but the figures show firms are taking our feedback seriously”.
The total redress paid to consumers was £1.96bn which is less than 1% lower than the redress paid between July and December 2015.
The top five most complained about firms between January and June 2016 (excluding consumer credit) were Barclays Bank, Lloyds Bank, Bank of Scotland, HSBC Bank, and National Westminster Bank.