Not upheld: ISA / savings administration complaint against Barclays Bank Plc

Decision detail

Summary

Mr R requested to transfer £16,241.36 from his Stocks and Shares ISA to a Cash ISA with Barclays on 20 November 2025. Barclays rejected the transfer on 26 November 2025 because a £9.07 fee deducted on 18 November 2025 created a shortfall. Mr R complained that Barclays should have warned him about the fee or prompted him to adjust the transfer amount. The ombudsman found that Barclays acted fairly by rejecting the transfer in accordance with standard industry practice and that Mr R should have been aware of the fee, having received an email notification on 28 October 2025. The complaint was not upheld and no remedy was awarded.

The Ombudsman's reasoning

The ombudsman found that Barclays acted in accordance with standard industry practice by rejecting the transfer outright due to insufficient funds. ISA providers rely on automated electronic platforms operating on an 'exact match' basis, and written rejection letters provide permanent, legally binding proof required under FCA Handbook rules for audit trails. Mr R should have been aware of the fee deduction as he received monthly notifications and a specific email on 28 October 2025 notifying him of the fee due on 18 November 2025, two days before submitting the transfer request. The transfer form also warned of potential outstanding fees.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website