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RBS Collective Investment Funds Limited

Financial Ombudsman decision DRN-2419697 Upheld

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

Account closed or refused, Funds blocked or frozen

In the Ombudsman’s words

RBS could take that action, if either Mr B or Mrs B entered into an IVA. So, RBS was permitted by the Account Terms and Conditions, in the circumstances of Mrs B entering into an IVA, to close the accounts without notice.Account closed or refused

However, during that appointment they were told their accounts were frozen so nothing could be done.Funds blocked or frozen

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-2419697.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.