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Virgin Money plc

Financial Ombudsman decision DRN1536992 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

Interest and rates, Service failure

In the Ombudsman’s words

didn’t tell her that her fixed rate bond account was maturing on 1 March 2016 and that it would transfer her money into another account paying a lower rate of interestInterest and rates

I think Virgin had an obligation to ensure Mrs M was given notice. And it seems to me it had enough time to do that irrespective of the mass mailing by the third party.Service failure

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN1536992.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.