DB UK Bank Limited

Activities and protection

What they can do, and how you are protected

• Hold or safeguard your money FSCS may apply
  Eligible deposits are typically protected by the FSCS up to £120,000 per person, per banking group.
• Give regulated advice FSCS may apply
  A claim for unsuitable advice is itself FSCS-protected, up to the limit that applies to the product you were advised on.
• Manage or trade investments FSCS may apply
  Eligible investment and pension claims are typically FSCS-protected up to £85,000 per person, depending on the product and your circumstances.
• Sell or arrange insurance FSCS may apply
  Eligible insurance claims may be FSCS-protected, often 90%, or 100% for compulsory or long-term cover.
• Advise on or arrange mortgages FSCS may apply
  Mortgage advice and arranging may be FSCS-covered, up to the limit that applies.
• Lend or arrange credit No FSCS cover
  Consumer credit is not covered by the FSCS, so there is no compensation scheme if the firm fails.

Check your FSCS cover →

Complaints: You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.

Track record

Action taken against them

2 fines between 2004 and 2011, £1.03m in total. This is part of the official register record and is worth reviewing before going ahead.

• Fined £840,000 on 22 February 2011

  On 15 December 2010, the Financial Services Authority (the FSA) imposed a financial penalty of £840,000 on DB UK Bank Limited (DB Mortgages) for breaches of Principle 3 (Management and Control) and Principle 6 (Customers' Interests). DB Mortgages failed to have adequate systems and controls in place in its lending practices to show that customers could afford mortgages sold where the term continued after their retirement. DB Mortgages also failed to consider whether there were cheaper mortgages available for customers seeking self-certified mortgages, and failed to ensure that customers had thought about where they would live at the end of the term if they needed to sell their house to pay off an interest-only mortgage. When customers subsequently went into arrears, DB Mortgages did not consider customers' individual circumstances or tell them about the range of options that were available to them. DB Mortgages also applied charges that were unfair in that they were charged repeatedly or did not accurately reflect the cost of administering an account in arrears. DB Mortgages will carry out a customer redress programme and a customer contact exercise to ensure these failings are addressed. This will include refunds of fees and charges and the payment for customers to receive independent financial advice. The FSA's action took effect on 15 December 2010, and a copy of the Final Notice, which sets out the reason for the action, is displayed on the FSA's web site and can be accessed.

  Read the FCA notice →

• Fined £190,000 on 5 April 2004

  The FSA has imposed a financial penalty of £190,000 on Morgan Grenfell & Co Limited a wholly owned subsidiary of Deutsche Bank AG. The financial penalty was imposed for breaches of FSA Principle 6 and Principle 8 in respect of the firm's conduct towards a customer and the management of conflicts of interest in the course of a programme trade. The firm's programme trading desk engaged in trading in seven of the fifty-five component securities of the customer's programme trade. The trading occurred between the provision of limited information, to enable the firm to provide a quote, until just after the strike time of that trade. The customer paid more than they would otherwise have done for this trade due to the firm's trading in these securities. In the case of one of the seven securities (Daily Mail and General Trust) the price rose by 9.99% during the twenty minute period of the firm's trading. During the same period, the price of the remaining six stocks increased between 1.12% and 3.81%. The firm failed either to notify the customer in advance that it may trade in the component securities based upon the information supplied by the customer or to ensure that its participation in the market did not cause a material adverse impact to the customer.

Common questions

Frequently asked questions