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First Rate Exchange Services Ltd

Financial Ombudsman decision DRN-5974021 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

Unauthorised transaction, Service failure

In the Ombudsman’s words

Mr S complains First Rate Exchange Services Ltd won’t refund an Automated Teller Machine (“ATM”) withdrawal which debited his account even though he says he didn’t receive the cash.Unauthorised transaction

He also found Mr S was given a misleading indication that because the merchant hadn’t responded his dispute was likely to be upheld and experienced several delays - resulting in Mr S having to make more frequent contact with First Rate Exchange Services than was necessary.Service failure

Rules cited

Consumer Credit Act 1974, Payment Services Regulations 2017

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5974021.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.