Close Brothers Limited

Financial Ombudsman decision DRN-6077665 Upheld

Upheldoutcome, as published by the Ombudsman

£250redress stated in the decision

Wed Feb 11deadline 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, Charges and fees

In the Ombudsman’s words

Mr W is unhappy with Close Brothers’ handling of his request to close his ISA account within the 14-day cooling off period.Account closed or refused

Close Brothers incorrectly told Mr W he was outside the 10-day funding window so he would incur a £28,000 penalty for transferring his funds to the new ISA.Charges and fees

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-6077665.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.