Banking and Financial Ombudsman: Who Qualifies and What You Get
Learn how to resolve disputes with your bank through an out-of-court process in Italy without needing to go to court.
The Banking and Financial Ombudsman is a service that provides a way to settle disagreements with banks or financial institutions without going through a formal court trial.
Who it's for
This service is designed for retail investors who are involved in a dispute with a bank or another financial service provider.
What you get
You receive an out-of-court dispute resolution process. This is a way to reach a settlement or a decision regarding your banking and financial services through an alternative method to traditional legal litigation.
What it costs you
There is a small filing fee to use this service, which is approximately €20.
The catch to know
The decisions made through this process are not legally binding for the bank. However, if a bank chooses not to comply with a decision, their non-compliance is published, which can impact their reputation.
How to apply
- Identify the specific dispute you have with your financial institution.
- Visit the official website to access the necessary forms.
- Submit your formal complaint or appeal through the portal.
- Follow the instructions provided for the review process.