Modulr FS Limited

Financial Ombudsman decision DRN-5116989 Upheld

Upheldoutcome, as published by the Ombudsman

£1,800redress stated in the decision

Tue Dec 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

Account closed or refused, Funds blocked or frozen

In the Ombudsman’s words

So, they decided to close Mr W’s account, and returned £1,800 to source.Account closed or refused

Modulr restricted Mr W’s account and asked him for proof of fundsFunds blocked or frozen

Rules cited

FCA Consumer Duty (PRIN 2A), FCA DISP (Dispute Resolution)

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5116989.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.