Other Financial Services

A financial services provider's terms and conditions are clear and binding if they explicitly signpost the reader to relevant limits schedules, and consumers bear responsibility for understanding those terms before using the service.

A financial services provider must communicate clearly with customers about accessing their funds when closing accounts and respond promptly to withdrawal requests.

A betting provider must void bets based on manifest pricing errors in accordance with its terms, but must notify the customer as soon as reasonably practicable and provide sufficient evidence to support the pricing error claim.

A business may charge inactivity fees in accordance with account terms and conditions, but must act fairly in their application, particularly when a consumer cannot access their account.

A firm must not allow a consumer to access high-risk products when it knows or should know of their vulnerability to problem gambling, even if risk warnings are provided.

A funeral plan provider must deliver services in a respectful and dignified manner that matches the standard of care promised in the pre-paid plan.

A business must provide clear and unambiguous terms about refunds; ambiguities in conflicting documentation should be construed in the consumer's favour.

An ombudsman cannot consider complaints about unregulated activities such as fixed odds betting, and spreadbetting providers are not required to implement deposit limits on spreadbetting accounts.

Spread betting accounts are subject to FCA rules requiring appropriateness assessment and risk warnings, not affordability checks or deposit limits like fixed odds gambling.

Firms operating execution-only spread betting platforms must provide adequate safeguards and suitability assessments, but are not liable for trading losses when they have met minimum regulatory requirements.