Not upheld: account closure without notice and without detailed explanation complaint against Curve UK Limited

Decision detail

Summary

Mr A complained that Curve UK Limited closed his e-money account with immediate effect without providing notice or detailed reasons, citing only a violation of terms of service. Curve maintained it had acted fairly and within its rights under the account terms. The ombudsman found that financial services businesses have legitimate discretion to close accounts and are not required to disclose detailed closure reasons. The ombudsman concluded that immediate closure was reasonable in the circumstances, particularly given Mr A's limited account usage and continued access to linked payment methods. The complaint was not upheld.

The Ombudsman's reasoning

Financial services businesses have legitimate commercial discretion to decide whether to provide or continue account services. While reasonable notice is generally expected, immediate closure may be appropriate depending on circumstances. The ombudsman was satisfied Curve's decision was legitimate and that immediate closure was not unreasonable given the account terms, Mr A's limited account usage, and his continued access to linked payment methods.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website