Not upheld: ISA / savings administration complaint against Atom Bank PLC

Decision detail

Summary

Mr M invested £10,000 in a five-year fixed saver account with Atom Bank in July 2025. After becoming unemployed in September 2025, he requested early access to the funds and asked Atom to consider his request under its hardship policy. Atom agreed to consider the request but required Mr M to provide statements from his other bank accounts as supporting documentation. Mr M refused to share these personal banking details and complained that Atom's requirement was unfair. The Ombudsman upheld Atom's position, finding that the fixed-term conditions were clearly disclosed, the hardship policy was reasonable, and requiring supporting documentation to assess eligibility was a fair requirement.

The Ombudsman's reasoning

The Ombudsman found that the fixed-term conditions were clearly communicated to Mr M at account opening and were not inherently unfair. While acknowledging Mr M's privacy concerns, the Ombudsman determined it was reasonable for Atom to require account statements to properly assess a hardship request, as there was no indication the information would be used for any other purpose. The Ombudsman concluded that having a hardship policy and requiring supporting documentation to assess eligibility was a fair and reasonable approach.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website