TSB Bank plc

Financial Ombudsman decision DRN-5295516 Not upheld

Not upheldoutcome, as published by the Ombudsman

£75redress stated in the decision

Thu Mar 13deadline 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

Charges and fees, Interest and rates

In the Ombudsman’s words

TSB explained how compound interest is calculated and why it had said the rate was 4.4% on the ISA certificate, explaining it was only able to give the monthly interest figures (4.4%), not the 18 month figure (4.5%) which Mr M would achieve over the lifecycle of the ISA.Charges and fees

Mr M complains, via a representative, TSB Bank plc didn’t provide the advertised interest rate of 4.5% on his fixed rate Individual Savings Account (ISA).Interest and rates

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5295516.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.