Payday lender is worst for service

PAYDAY lending giant CashEuroNet UK, which owns Quick Quid and Pounds To Pocket, has been ranked the most complained about banking and credit business.

In the first six months of 2018, the Financial Ombudsman Service (FOS) received 4,692 complaints about the firm — and almost seven in ten of those complaints were upheld in favour of the customer.

Barclays is the most complained about bank, and second-worst company overall, with 4,633 complaints about its banking services. The Ombudsman ruled in the customers’ favour in 28 pc of cases. Payday lender Wonga, which collapsed into administration in August, was ranked third-worst by FOS.