A record number of 7,004 complaints were received last year by the Financial Services and Pensions Ombudsman Liam Sloyan.
The Ombudsman's Overview of Complaints for 2025 show that a total of 6,282 complaints - also a record - were closed in 2025, an increase of 6% and a 34% increase since 2022.
Outcomes worth €6.2m were paid out and a single payout was capped at €0.5m, the Ombudsman noted.
The Financial Services and Pensions Ombudsman provides an independent, impartial, fair and free complaint resolution service for consumers who are unhappy with how their complaint was dealt with by their financial service or pension provider.
The majority of all complaints last year concerned the insurance and banking sectors, and most cases were closed within 12 months of being received.
Today's report shows that customer service was the most complained of conduct last year, with 19% of complaints concerning an issue of customer service.
A total of 3,802 banking complaints were received - 54% of all complaints - and marking a 12% increase since 2024.
Meanwhile, 2,142 insurance related complaints were received (31% of all complaints), representing an 18% increase on 2024.
There were also 525 investment complaints received (7% of all complaints), representing an increase from the 411 complaints received in 2024.
276 pension complaints were received and accounted for 4% of all complaints, a decrease from the 349 complaints received in 2024.
Liam Sloyan noted that the number of tracker mortgage complaints the FSPO receives each year continues to decline.
The FSPO received 11 tracker mortgage-related complaints last year and closed a further 143.
At the end of 2025, there were 600 tracker mortgage complaints remaining on hand. Of the 115 tracker mortgage complaints where a legally binding decision was issued, 111 complaints resulted in a decision where the complaint was not upheld.
Financial Services and Pensions Ombudsman Liam Sloyan noted that 2025 was the third year in succession that the Office saw a significant growth in the number of insurance complaints received, with the number increasing from 1,129 in 2022 to 2,142 in 2025 - almost doubling in just three years.
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"This level of increase should be of concern to the industry and I will engage with the sector on this matter," he added.
Speaking on RTÉ's Morning Ireland, Mr Sloyan said the fraud cases his office is are seeing are "quite serious".
While fraud is a crime and a matter for An Garda Síochána and the courts, he said his office looks at the services provided by financial service providers around the time of the fraud.
He also said that customer service was the most complained about conduct last year.
Customer service covers a range of complaints from minor issues like call response times to more serious matters.
The insurance industry has also seen a surge in complaints. This comes down to a range of factors, with a lot of it to do with motor insurance, he added.
He said he has spoken to the insurance industry about the level of complaints.
OMBUDSMAN'S CASE STUDIES
In one case study, Matt and his daughter were stranded on the motorway after hitting a deer and could not reach their insurer, forcing him to hire a private tow truck for over €600.
In mediation, the insurer initially denied receiving his calls but agreed to reimburse the towing costs once Matt showed screenshots of calls.
In another case, a woman called Brenda notified her bank about her long‑awaited holiday and was assured her card would work abroad.
But it was blocked on the second day, leaving her dependent on her companions for funds. She could not reach the bank while abroad, and the bank later said she needed her Irish mobile to approve payments.
In mediation by the Ombudsman, the bank emphasised the importance of having one's Irish number on holiday to confirm payments if needed, and offered Brenda €1,000 as a goodwill gesture.
