Not upheld: ISA transfer error and alleged poor communication complaint against Santander UK Plc

Decision detail

Summary

Miss J complained that Santander incorrectly transferred her ISA funds to V instead of M in October 2025, causing financial loss and distress. She also complained about poor communication and lack of access to her funds. The ombudsman found that Santander acted fairly by processing the transfer requests as submitted through the electronic banking system, which automatically processes the first valid request with correct details. The evidence showed that V's second transfer request was the first valid request and was properly completed on 4 November 2025. V itself acknowledged errors and paid Miss J compensation, confirming Santander had not made mistakes. The complaint was not upheld and no award was made against Santander.

The Ombudsman's reasoning

The ombudsman found that Santander acted fairly by processing transfer requests according to the electronic banking system rules, which automatically processes the first valid request with correct details. The evidence showed that V's second transfer request (which completed to V) was the first valid request processed, not an error by Santander. The ombudsman noted that V itself acknowledged errors and compensated Miss J accordingly. Santander provided appropriate notifications and the external bank (V) was in control of the transfer process once initiated.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website