As of April 27, the requirements of the National Bank of Ukraine for banks to enter into agreements with customers come into force – they must have an expanded description of the financial service and not contain unfair terms. The corresponding decision of the NBU board was made on January 22.
Kyiv. Ukraine. Ukraine Gate – April 27, 2021 – Economy
These are the requirements for loan agreements, deposit, as well as opening and maintaining an account. They apply to contracts that are directly signed by the consumer.
Therefore, from now on, banks will be required to provide a full description of the service in the contract. For example, the deposit agreement will need to specify a specific date for the return of the deposit and information about the bank’s right to extend the deposit. In the loan agreement – the list and cost of additional services, the conditions under which it is possible to change the interest rate or other payments.
The text of the contract must be set out in a font size of at least 11 typographic points.
In addition, banks are prohibited from including unfair terms in their contracts that restrict customers’ right to file a complaint or lawsuit.
Banks will be prohibited from changing the terms of the agreement without informing the consumer, as well as requiring the consumer to pay for services not yet received under the agreement.
In 2020, Ukrainians most often wrote complaints to the National Bank regarding loans. In total, there were almost 16,000 written appeals.
Among the most common violations of consumer rights in banks last year – the imposition of additional services: credit card when receiving a pension or salary, life insurance during currency exchange; illegal accrual of interest, commissions, fines, and penalties under loan agreements; making illegal clauses in the text of the contract.
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Source: Ukrgate
