Not upheld: Account closure without notice complaint against Wirex Limited

Decision detail

Summary

Mr F complained that Wirex Limited unfairly blocked his account on 1 August 2025 and withheld his funds. Wirex initially blocked the account to conduct a regulatory review of the account's purpose and fund origins, which Mr F cooperated with by providing information and supporting evidence. The block was subsequently continued due to a court freezing order that Wirex was legally required to comply with. The ombudsman found that Wirex's actions were justified by regulatory obligations and the court order, that the review was conducted without unreasonable delay, and that funds were appropriately released following the court hearing on 3 December 2025. The complaint was not upheld.

The Ombudsman's reasoning

The ombudsman found that Wirex's obligations under UK legislation to establish the purpose and origin of funds override other obligations, and that Wirex was complying with these obligations when it reviewed and suspended the account. The account block was further justified by a court freezing order, which Wirex was legally required to comply with. The ombudsman found no unreasonable delays in the review process and confirmed that funds were appropriately withheld pending the court hearing and subsequently released.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website