Partially upheld: Account administration errors complaint against HSBC UK Bank Plc

Decision detail

Summary

Mr S complained that an investment he believed he had taken out through HSBC approximately 20 years ago disappeared from his HSBC mobile app in August 2025. HSBC initially stated they had not received a valuation from the provider, but later confirmed the investment was held by a different consumer with a similar name, held jointly with another person, and registered to a different address. The ombudsman found on the balance of probabilities that the investment did not belong to Mr S and had been erroneously displayed on his account. However, the ombudsman upheld the complaint in part, finding that HSBC had inconvenienced Mr S by leading him to believe the investment was his, and awarded a total of £225 in compensation (£75 already paid plus a further £150).

The Ombudsman's reasoning

The ombudsman applied the balance of probabilities test due to incomplete documentary evidence. The evidence from HSBC and M showed the investment was held by a different consumer with a similar name, held jointly with another person, registered to a different address, and with no evidence of fraudulent withdrawal. This made it more likely the investment did not belong to Mr S and had been erroneously displayed on his app. However, HSBC inconvenienced Mr S by leading him to believe the investment was his, warranting compensation for distress and inconvenience caused by their errors, separate from any errors made by M.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website