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Co-operative Bank Financial Advisers Limited

Financial Ombudsman decision DRN-4976843 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, Complaint handling

In the Ombudsman’s words

Ms J did respond to Co-op’s second final response letter but also brought the complaint to our service which an investigator looked into, liaising with Co-op as necessary. As this took longer than expected, our investigator wrote to Ms J and Co-op with their thoughts so far, which Co-op responded to. They reaffirmed information about the accounts, within the data protection restrictions but gave reassurance regarding some account movements. In recognition of the time taken to fully address Ms J’s concerns, Co-op offered an additional £100 redress. As a result, our investigator issued their view on the complaint in which they addressed several points. They said they were satisfied all the child accounts were set up as ‘Re’ accounts meaning the funds belong to the adults until they decide to give it to the children. They acknowledged Ms J’s concern that movements were made despite her having control but our investigator said in view of the missing information from the other party, they could not make a fair assessment plus, it would not be fair to ask Co-op to refund anything as it’s possible the funds were used for the children’s benefit. Our investigator said that despite the addreAccount closed or refused

Co-op looked into it and it was established that some years prior, Co-op changed the address from that of Ms J to that of her ex-partner, with whom she shared the child account. As a result, Ms J complained to Co-op about this, and raised concerns that some changes had been made to the accounts and, she had not been provided statements when she asked for them. Co-op investigated the complaint and responded to Ms J, firstly apologising for the length of time it had taken them to provide a full response.Complaint handling

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4976843.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.