NewDay Ltd

Financial Ombudsman decision DRN-3169494 Upheld

Upheldoutcome, as published by the Ombudsman

£4,999redress stated in the decision

Thu May 19deadline 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

Card dispute or chargeback, Product mis-sold

In the Ombudsman’s words

Mr T complains that NewDay Ltd (“NewDay”) has refused to refund payments he made to what he believed was a legitimate binary options trading company (Tradorax). These payments were made using Mr T’s NewDay Mastercard credit card.Card dispute or chargeback

I am persuaded they made misrepresentations to Mr T. That is, that they were running a genuine enterprise through which he could never have got back more than his deposits from the platform.Product mis-sold

Rules cited

Consumer Credit Act 1974

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-3169494.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.