Not upheld: incorrect interest rate / alleged mis-display of product information complaint against National Westminster Bank Public Limited Company (NatWest)

Decision detail

Summary

Mr E complained that NatWest applied an incorrect interest rate of 4.0% to his 2-year Fixed Rate ISA when he believed the advertised rate was 4.2%. NatWest maintained the correct rate had been applied and that the advertised rate of 4.2% applied to the 1-year product. The ombudsman used the Wayback Machine to examine NatWest's website as it appeared in October 2025 and found that while a headline rate of 4.2% was shown, the detailed information clearly distinguished between the 1-year option at 4.2% and the 2-year option at 4.0%. The ombudsman concluded that NatWest provided sufficient information for Mr E to be reasonably aware of the different rates and therefore did not uphold the complaint.

The Ombudsman's reasoning

The ombudsman used the Wayback Machine to independently verify how NatWest's website appeared in October 2025. While the headline rate was 4.2%, the detailed information clearly distinguished between the 1-year option at 4.2% (Issue 384) and the 2-year option at 4.0% (Issue 385). The ombudsman concluded that NatWest provided sufficient information for Mr E to be reasonably aware of the different rates between the two products, and therefore applied the correct rate to his account.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website