Not upheld: duplicate payment / refund error complaint against eToro Money UK Ltd

Decision detail

Summary

Mr R complained that eToro Money UK Ltd failed to refund a duplicate payment of £100 taken in error on 18 September 2025 due to a technical issue. eToro acknowledged the error and stated it had corrected Mr R's account, offering $150 compensation. Mr R disputed this, claiming the account showed no reversal and was only credited through an internal transfer. The ombudsman reviewed the account statements and found that a £100 correction had been applied on 22 September 2025, resulting in Mr R not being out of pocket. The complaint was not upheld.

The Ombudsman's reasoning

The ombudsman accepted that a duplicate payment was taken without Mr R's authority but found that the method of correction (reversal, refund, adjustment, or cancellation) was not significant. The key question was whether Mr R had been made whole. The account statements clearly showed that on 22 September 2025, after a £55.24 credit was applied, the account balance increased to £155.24, with no corresponding debit, which is consistent with the £100 error being corrected. Therefore, Mr R was not out of pocket.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website