Not upheld: account administration, information provision, merger notification complaint against Chetwood Financial Limited

Decision detail

Summary

Mr S complained to the FOS about Chetwood Financial Limited regarding his one year bond account, claiming he was unable to find his maturity date, was unaware of the merger between SmartSave and Chetwood, and lacked access to terms and conditions. Chetwood provided evidence of notification emails sent to Mr S's correct address starting 27 December 2025, confirming the maturity date and options, as well as merger information sent after maturity. The ombudsman found that Chetwood had properly communicated all required information and reasonably explained that email providers may have blocked the communications. The complaint was not upheld, with no further award made beyond Chetwood's £20 goodwill gesture.

The Ombudsman's reasoning

The ombudsman accepted that Chetwood sent the required notification emails to Mr S's correct email address on 27 December 2025, confirming the maturity date and options available. While Mr S claimed not to receive the emails, Chetwood's records confirmed they were sent, and the firm reasonably explained that email providers may have blocked the communications. The ombudsman found that Chetwood properly handled the maturity instructions Mr S provided and appropriately communicated the merger details after the account matured. No errors or unfair treatment were identified.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website