Banks have put aside over £10bn for payment protection insurance redress, according to Which? consumer group.
HSBC has set aside a further £340m while Lloyds, the largest provider of PPI, set aside £4.3bn. The total for the five largest banks, HSBC, Lloyds, Barclays, RBS and Santander, stands at £8.8bn.
Over 24,250 complaints have been made by consumers with 2,000 made in July 2012 alone and £4.8bn has already been paid out in redress.
It is estimated there is still £5bn in mis-sold PPI to be claimed by consumers.

Which? chief executive Peter Vicary-Smith said: "These latest figures from the banks show that PPI is now on course to become the biggest consumer financial scandal of all time, exceeding pensions mis-selling and endowment mortgage scandal."
Mr Vicary-Smith urged that consumers are made aware of how to claim for free without the use of claims management companies. Which? has been working with moneysavingexpert.com to tackle "unscrupulous" CMCs who exploit consumers looking to claim and wants the Government to clean up the industry.
He said: "The banks must make it straightforward for people to reclaim PPI themselves, for free, so they don't resort to expensive and unnecessary claim management companies.
"We need the Government to raise its game too, and toughen up the regulation of unscrupulous CMCs who are exploiting consumers who just want to claim back what is rightfully theirs."