Santander ordered to repay man who gambled away £25k house sale cash

What happened: The Financial Ombudsman Service ordered Santander to repay a customer, known as Mr R, who gambled most of a £25,000 house sale payout after telling the bank about his addiction. Why it matters: The ombudsman said the bank had the ability to apply the restrictions itself, and that only an online block would have prevented the transactions. The case sits under the FCA consumer duty, which calls for extra care with vulnerable customers.

The Financial Ombudsman Service ordered Santander to repay a customer, known as Mr R, who gambled most of a £25,000 house sale payout after telling the bank about his addiction.

The ombudsman said the bank had the ability to apply the restrictions itself, and that only an online block would have prevented the transactions. The case sits under the FCA consumer duty, which calls for extra care with vulnerable customers.