Ombudsman

The Ombudsman is the institution dealing with extrajudicial settlement of disputes between banks and their customers. The introduction of the Ombudsman of the Association of Commercial Banks of Latvia was approved by resolution No. 71/1 of the Council of the Association of Commercial Banks of Latvia on 27.11.2002. Its purpose is to protect the rights of consumers. This extrajudicial dispute resolution institution was created based on the recommendations provided by the European Union, in accordance with the Law on Credit Institutions, and in line with suggestions and practices of the Financial and Capital Market Commission.


The Ombudsman considers complaints that meet the following characteristics:

  • complaints concerning breaches of provisions of the Law on Payment Services and Electronic Money
  • complaints concerning actions of a credit institution registered in Latvia, of a branch of a foreign credit institution operating in Latvia, or of a representative office of a foreign credit institution operating in Latvia
  • the size of the transaction (or the total amount of apparently linked transactions), which is the subject of the complaint, does not exceed EUR 50,000
  • complaints do not concern issues of document forgery
  • complaints do not concern questions such as: relevance of pricelists of credit institutions; granting, repealing or amending of a credit limit; credit limit terms and conditions, and other similar issues
  • the customer had previously contacted the credit institution with the same claim, but within one month after submission (sending) of the complaint no satisfactory answer to his claim was received from the credit institution
  • no statement of claim was filed with a court or a court of arbitration in regard to the same subject matter as referred to in the complaint
  • the customer has not contacted the Consumer Rights Protection Centre with a complaint of the same content 
  • a complaint of the same customer with regard to the same subject was not previously submitted to the Ombudsman
  • the credit institution referred to in the complaint has not been recognized bankrupt or subject to liquidation
  • complaints concerning compliance with the unified principles of amendment of individual accounts of natural persons
  • complaints concerning breaches of EU Regulation 924/2009 of 16.09.2009 on cross-border payments within the Union relating to payments in the euro currency.


A complaint is to be prepared in writing. It should be addressed and submitted to Ombudsman of the Association of Commercial Banks of Latvia at 9/11 Perses Street, Riga, LV-1011.

The procedure for submission of complaints is determined by the rules and regulations of the Ombudsman of the Association of Commercial Banks of Latvia which were approved by resolution No. 71/1 of the Council of the Association of Commercial Banks of Latvia on 27.11.2002 and are available at the website of the Association of Commercial Banks of Latvia.

Details of the Ombudsman of the Association of Commercial Banks of Latvia:
Address: 9/11 Perses Street, Riga, LV-1011
Latvian VAT payer registration number: 40003502116.


Ombudsman:
Aivars Graudiņš,
tel. 67284562, 67284561, fax 67828170,
e-mail: Aivars.Graudins@bankasoc.lv

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