Hellenic Ombudsman for Banking-Investment Services (H.O.B.I.S.)

The Hellenic Ombudsman for Banking-Investment Services (H.O.B.I.S.) is a private, non-profit entity which was set up on July 1, 2005, following the merger of the Banking Ombudsman and the Investment Ombudsman. It considers fairly, impartially and openly, disputes arising from the provision of banking and investment services, aiming at their amicable settlement.

Who can they help?

Consumers, professionals and small enterprises (annual turnover of less than € 1 million) conducting businesses with banks, except those active in the areas of agriculture, forestry, fishing and transport.
Investors (individuals and legal entities) conducting businesses with investment companies, provided it is not related to their professional activities.

What type of disputes can the Hellenic Ombudsman for Banking Investment Services consider?

Disputes arising from the provision of banking services (such as deposits, loans and cards) and of investment services (such as shares, mutual funds and bonds) by banks and investment service providers (i.e. brokerage firms, mutual fund management companies and portfolio investment companies) which are established in Greece and are participants in or associates of the H.O.B.I.S. scheme.
Cross-border disputes, in the H.O.B.I.S.' s capacity as a member of FIN-NET (the Cross-Border Out-of-Court Complaints Network for Financial Services). The H.O.B.I.S. provides consumers residing in Greece with information and assistance for the settlement of disputes arising in the context of their transactions with other EU and EEA member states' banking or investment service providers. The H.O.B.I.S. also considers and seeks to resolve complaints referred to it by consumers of other EU and EEA member states regarding problems arising from their transactions with banking and investment service providers established in Greece which participate or are associated members of the H.O.B.I.S. scheme.

Making a complaint

The first step is to complain to the officer in charge of the banking or investment service provider's service where your complaint-related transaction occurred. Normally, the officer should respond within ten (10) working days.

The second step, in case you are not satisfied with the proposed solution or you do not receive a response within ten (10) working days, is to complain in writing to the service provider's (banks, brokerage firms, mutual fund management companies, portfolio investment companies) Customer Service Department. Normally, the Customer Service Department should respond in writing within ten (10) working days as of the date you filed your complaint.

Third step: In many cases, the service provider will be able to sort out the problem. Nevertheless, if you are not satisfied with the Customer Service Department 's response or if the ten (10) working days have elapsed and you have still not received a response, you may file your complaint with the Hellenic Ombudsman for Banking-Investment Services within one (1) month at the latest as of the Customer Service Department 's response or the expiry of the ten working days deadline without a response.

Complaints should be submitted to the H.O.B.I.S. in writing.

More information, visit www.bank-omb.gr