Banking - Savings Accounts
ISA transfer delay (cash ISA); Rate misrepresentation - introductory rate; Fixed-term penalty / early access; FSCS misrepresentation
Mandatory ADR
Max award: £445,000 (from 1 Apr 2025)
15 business day rule (ISA regs); 8 weeks firm
Uphold rate: 34% (FOS 2024/25)
Key Legislation
ISA Regulations 1998 SI 1998/1870; FCA BCOBS — BCOBS 2.3; DISP 1.6; Consumer Duty PRIN 2A; BCOBS 2.3; Consumer Duty PRIN 2A; CRA 2015 s.49
Complaint Route: Financial Ombudsman Service
Type: Ombudsman (binding on firm)
Max award: £445,000
Uphold rate: 34%
Average resolution: 180 days
Pre-conditions: Complain to firm first; firm has 8 weeks to resolve; then refer to FOS within 6 months of final response
Visit FOS websiteCompanies in This Sector
Marcus/Goldman (FCA 597520)YBS (FCA 106085)NS&ISkipton (FCA 153706)
Annual complaint volume: 305,726 (FOS 2024/25 total)
Note: Compensation range: Lost interest in full + D&I £100-£250