Not upheld: inadequate notification of product maturity complaint against Shawbrook Bank Limited

Decision detail

Summary

Mrs W complained that Shawbrook Bank Limited failed to provide meaningful notification that her fixed rate cash ISA was maturing in December 2024, resulting in the account defaulting to a 0.1% interest rate and causing her to lose approximately £2,000 in expected interest. Shawbrook sent three emails, with the primary notification on 15 November 2024 titled 'Important Message – Your Fixed Rate ISA Bond is about to mature', directing Mrs W to log into her online account. The ombudsman found the email notification was clear and unambiguous, the communication method was consistent with Shawbrook's terms and conditions, and Mrs W had regular access to her online account where detailed information was securely available. The complaint was not upheld.

The Ombudsman's reasoning

The ombudsman found that the 15 November email was clearly titled and prefixed with 'Important Message', providing unambiguous indication that Mrs W's ISA was maturing. The email provided clear step-by-step instructions to log into her account. Detailed information about rates and consequences was appropriately withheld from email for security reasons and made available via the secure online portal. Mrs W's demonstrated ability to access and use her online account (20+ logins) showed she had the means to review her options. The notification method was consistent with Shawbrook's terms and conditions, which did not require postal notification.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website