Firms › HSBC UK Bank Plc ›

HSBC UK Bank Plc

Financial Ombudsman decision DRN-5638298 Not 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, Support for vulnerable customers

In the Ombudsman’s words

Eventually, as HSBC had unresolved concerns about transactions on Mr J’s account, HSBC took the decision to no longer offer Mr J with banking facilities.Account closed or refused

I do think there are times, where, if it becomes obvious to a financial business that its customer is vulnerable, for example if a business manually reviews a customer’s account and there are an extreme amount of payments being made to payees who are clearly gambling companies, then I do think that financial businesses should offer support in those situations.Support for vulnerable customers

Rules cited

Payment Services Regulations 2017

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5638298.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.