Coutts Finance Company

Financial Ombudsman decision DRN-2236797 Upheld

Upheldoutcome, as published by the Ombudsman

£1,000redress stated in the decision

Tue Nov 03deadline to accept (not the decision date)

The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.

What this decision was about

Interest and rates, Service failure

In the Ombudsman’s words

failed to advise him of improved options to earn interest on an extremely large cash depositInterest and rates

Coutts said that when Mr B first paid in the dollar amount, interest rates were very low indeed, and it was aware Mr B wouldn’t want to invest, so it hadn’t discussed that with him. But it was disappointed to find that it had not discussed this with him once those rates started to rise.Service failure

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-2236797.pdf on financial-ombudsman.org.uk.

The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.