FORISGFS UK LIMITED trading as Crypto.com · DRN-5930668

The complaint Miss D complains that FORISGFS UK LIMITED trading as Crypto.com delayed in providing a statement setting out her account transactions, for a mortgage application, leading her to not being able to get such a favourable mortgage rate. What happened Miss D applied for a mortgage in October 2024. As part of this she was asked to supply details of the transactions on her prepaid debit card with Crypto. She was told she could download these, but this didn't provide the information the broker wanted. She needed to include her name address and account number on the face of the statement. Crypto said initially that this couldn't be supplied, but it later agreed to provide the necessary statement. Miss D had asked for this on 23 October 2024 and the statement was provided, albeit in dollars, on 30 October. Miss D said that because the timescales were so tight in order to benefit from the offer, this was too late. She feels that Crypto should have been able to provide a statement in the format required Immediately rather than as a result of a special request. Crypto acknowledged failures in customer service and offered compensation of 755 CRO (cryptocurrency). This is roughly equivalent to £75 as of the date of this decision. On referral to the Financial Ombudsman Service, our Investigator said that Crypto should pay compensation of £150 rather than the amount previously offered. Crypto agreed to this. Miss D didn’t agree, particularly as she said she had lost out on a mortgage deal and she would have to pay a higher monthly payment. The matter has been passed to me for an Ombudsman’s consideration. What I’ve decided – and why I’ve considered all the available evidence and arguments to decide what’s fair and reasonable in the circumstances of this complaint. I previously issued a jurisdiction decision whereby because this complaint concerns Fiat currencies namely USD (dollars) and GBP (pounds sterling) we can consider the complaint. But this doesn’t extend to any issue concerning cryptocurrency. Miss D’s complaint is that Crypto failed to supply a statement in the format requested for a mortgage application. The statement was supplied after a week, though Miss D says that was too late. However, whilst from the online chats I can see she wanted this urgently, I haven’t seen evidence that the application couldn’t be proceeded with. Or, if this was the case that this was the only reason and/or that she would have succeeded in her mortgage application. Further I’ve not seen evidence that Miss D now has to pay more for her mortgage than would have been the case if she had been successful in her mortgage application.

-- 1 of 2 --

The Crypto account Miss D has is not a bank account. It is an investment wallet and in conjunction with that there is a debit card which has to be loaded with credit to use. I understand Miss D did this from her regular bank account. Although I understand that it would also allow the customer to convert cryptocurrency into a Fiat currency. Given that, I don’t think it is reasonable as Crypto is not a bank, to expect it to provide statements in the way that a bank or credit card company might do. In Miss D’s case she was able to download all the transactions but this wasn’t in the format requested. From what I’ve seen of her communications with the broker they weren’t sure exactly what a Crypto account was. But I also don’t think that Crypto could reasonably have expected that the transactions would likely be required for a mortgage – it’s clear that Miss D uses a regular bank account for her regular income and outgoings. I understand Miss D’s concern that in any future mortgage application she might have the same trouble. However, I can’t make findings about what might happen. Overall our Investigator has recommended that Crypto pay £150 compensation for the poor customer service. I think that’s reasonable. For reasons set out in this decision, I won’t be asking Crypto to increase this. Putting things right Crypto should pay £150 compensation. My final decision I uphold the complaint in part and require FORISGFS UK LIMITED trading as Crypto.com to provide the remedy set out under “Putting things right” above. Under the rules of the Financial Ombudsman Service, I’m required to ask Miss D to accept or reject my decision before 10 December 2025. Ray Lawley Ombudsman

-- 2 of 2 --