Current Account Decision Reference 2022-0108

• Case Outcome: Rejected
• Subject Matter: Current Account
• Reference: 2022-0108
• Date: 23 March 2022
• Finantial Sector: Banking
• Conducts Complained Of: Failure to provide notification /reason for closure

Decision Ref:

2022-0108

Sector:

Banking

Product / Service:

Current Account

Conduct(s) complained of:

Failure to provide notification /reason for closure

Outcome:

Rejected

LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

The Complainant held an account with a bank (the “Provider”) since 2003.

The Complainant’s Case

The Complainant became aware on 3 October 2019 that the Provider wished to terminate

the Complainant’s bank account on two months’ notice. On 7 October 2019 the

Complainant complained to the Provider. The Provider terminated the bank account on 3

December 2019 and returned the balance on the account of €2,967.55 (two thousand nine

hundred and sixty-seven euros and fifty-five cent) to the Complainant by bank draft dated

24 December 2019.

The Complainant became aware of the Provider’s position by letter dated 3 October 2019,

addressed to the Complainant. In this letter the Provider said:

“Please take note that the [Provider], in exercise of its contractual rights, has decided

it will close the above described account ("the account") maintained with this branch

of [Provider] with effect from the close of business on 03/12/2019 ("the closure

date"). As and from this date the Banker/Customer relationship between you and the

[Provider] will terminate. Accordingly, you should take steps to arrange alternative

banking facilities.”