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Safeguarding the Rights of Financial Services' Consumers: What You Should Know?

The National Bank of Ukraine has the authority to protect the rights of consumers of financial services, and regulates the behavior of banks and nonbank financial institutions in relation to their customers. The Office for Financial Services Consumer Rights Protection is an NBU unit that deals with this issue.
 
Work to protect the rights of consumers of financial services is focused on three major areas:

  • processing individuals' appeals
  • setting requirements for financial institutions
  • supervising compliance with legislation that safeguards the rights of consumers of financial services, and monitoring compliance with advertising laws (that govern advertising in financial services).

 

How to apply in writing

The most convenient way to contact the NBU is via remote channels:

  • send an online request or write to [email protected] using a special form
  • send a letter, along with supporting documents, to: 01601, Kyiv, 9, Instytutska St.,

In your application, state the essence of your issue and provide your contact information. Specify:

  • your first name, middle name (if any), and last name
  • place of residence
  • e-mail address
  • a summary of your question, proposal, or complaint.

Please provide sufficient information for the NBU to make a substantiated decision. For more about how to make appeals, see the Guidelines on the Organization of Consideration of Citizens' Appeals, the Conduct of Appointments, and the Provision of Access to Public Information at the National Bank of Ukraine.

How long will it take to receive an answer?

A response to a standard appeal takes 30 days to provide.

However, if the appeal requires no additional research or verification, an answer may be given in less than 15 days.

In complicated cases, the review period may be extended to 45 days. But the NBU always informs the applicant about such an extension.

The terms of consideration of appeals are established by the Law of Ukraine On Appeals of Citizens.

How to get the contact center's attention

If you have questions, complaints, or suggestions regarding the services of financial institutions, you can receive advice from our specialists by calling 0 800 505 240.

If your issue requires further consideration, contact center operators will register your request for further processing. A contact center employee will ask you to give your name, place of residence, e-mail, and to describe the essence of your question, proposal, or complaint.

How to make a personal appointment

To make an appointment with the NBU, call the contact center at 0 800 505 240 or fill out the online form.

When making a personal appointment, please provide the following information:

  • full name
  • place of residence or address where official correspondence can be delivered
  • contact phone or information on other ways to reach you
  • summary of the question raised
  • names of financial or other institutions (organizations) that you or your representative have previously applied to regarding this issue, and what decision was made.

Wait for your application to be processed and for a return call from our specialists with confirmation of the appointment.

Personal appointments are conducted by the head of the Office for Financial Services Consumer Rights Protection or other authorized officials of the NBU.

The Office for Financial Services Consumer Rights Protection holds in-person appointments on the second and fourth Thursdays of each month, from 3 p.m. to 6 p.m. You can sign up no later than 5 business days before the date of your appointment.

What to keep in mind: The NBU performs video and audio recording of personal appointments, for transparency and security purposes.

Applications the NBU rejects

The NBU does not consider anonymous applications that do not specify the applicant's name and place of residence. Issues beyond the NBU's purview are referred to the relevant public authority. The NBU always notifies the applicant that such a referral has been made. If the application does not contain sufficient information, we return it and ask to provide more data. A repeat application on the same issue is also rejected if the first appeal has been resolved.

Should you wish to read more, please consult the Guidelines on the Organization of Consideration of Citizens' Appeals, the Conduct of Appointments, and the Provision of Access to Public Information at the National Bank of Ukraine.

How to appeal the NBU's actions or their absence

Under Article 23 of the Law of Ukraine On Access to Public Information, appeals against information managers' decisions, actions, or absence thereof, may be filed with the leadership of said information managers, a higher authority, or a court.

The following actions, or their absence, may be appealed:

  • refusal to satisfy a request for information
  • postponement of the satisfaction of the request for information
  • failure to respond to a request for information
  • provision of inaccurate or incomplete information
  • untimely provision of information
  • nonfulfillment by information managers of their obligation to publish information in accordance with Article 15 of the Law of Ukraine On Access to Public Information
  • information managers' other decisions, actions, or absence of actions, that violated the legal rights and interests of the person making the appeal.

Appealing information managers' decisions, actions, or lack of actions, in court is carried out in accordance with the Code of Administrative Court Procedure of Ukraine.

How to request public information

Individuals, legal entities, associations of citizens with no legal entity status, except for government authorities, have the right to request information from the NBU, regardless of whether such information concerns said entities personally, without explaining the reason for such a request. One can send an online request or write to [email protected] using a special form

The request for information must contain:

  • full name
  • postal address or e-mail address, and a phone number, if any
  • a general description of the information being requested or the type, name, details, or content of the requested document.

In the following cases, the NBU will deny to meet a request for information:

  • The NBU does not possess, and is not obliged to possess, within its purview, information for which the request was made.
  • The requested information is categorized as information with limited access in accordance with Article 6 part 2 of the Law On Public Information.
  • The entity requesting the information has not reimbursed the actual costs associated with copying or printing the information.
  • The requirements for processing a request for information have not been met.

The decision to refuse or postpone the satisfaction of the request for information is communicated in writing.

A response to a request for information shall be provided no later than five business days from the date of its receipt. However, the period for consideration of a request for information may be extended to twenty business days. For more, see the Guidelines on the Organization of Consideration of Citizens' Appeals, the Conduct of Appointments, and the Provision of Access to Public Information at the National Bank of Ukraine

 

Submit an enquiry to the NBU

0 800 505 240  |  [email protected]

Have a question?