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Hellenic Ombudsman for Banking – Investment Services.

Welcome to the Hellenic Ombudsman for Banking – Investment Services website.

I hope you find the information you need, whether you want to use our services or just be informed about our scheme and our work.

Theodoros Koutsoumbas Dr. Jur.

  1. About us

The Hellenic Ombudsman for Banking – Investment Services (H.O.B.I.S.) is a specialized Alternative Dispute Resolution (ADR) entity, registered in the Register of ADR entities of the General Secretariat for Trade and Consumer Protection of the Ministry of Economy and Development.
H.O.B.I.S receives, on average, 10,000 oral and 2,000 written complaints per year. We resolve disputes on average, in 31 days, reaching an amicable settlement on 75% of the cases handled.

  1. Establishment

H.O.B.I.S. was set up on March 15, 1999, on World Consumer Day, initially as Banking Ombudsman. In June 2005 H.O.B.I.S. merged with the Investment Ombudsman and has since been a non-profit private law.legal entity.

  1. Members

The participating members of H.O.B.I.S are the Hellenic Banking Association, the Association of Members of the Athens Exchange and the Hellenic Fund and Asset Management Association.

  1. Jurisdiction

H.O.B.I.S. examines impartially and free of charge disputes regarding the provision of banking and investment products and services, by banks and investment companies operating in Greece, to consumers and businesses (with an annual turnover of up to 1 million Euro) and mediates to resolve them extrajudicially.

H.O.B.I.S. examines disputes regarding electronic contracts for the provision of banking and investment products and services through the EU’s ODR platform.
H.O.B.I.S. examines cross-border disputes as a member of the Financial Dispute Resolution Network(FIN-NET).
H.O.B.I.S is a competent scheme for out-of-court dispute resolution (ADR) based on:

– Law 3606/2007 (d. 62) (Government Gazette Α 195/17.8.2007) ( markets for financial instruments)

– Law 3862/2010 (d. 79) (Government Gazette Α 113/13.7.2010) (payment services)

– Law 4021/2011 (d. 26) (Government Gazette Α 218/03.10.2011) (supervision of credit institutions)

– Law 4099/2012 (d.95) (Government Gazette Α 250/20.12.2012) (UCITS) and

– Credit and Insurance Committee Decision BoG 195/1/29.07.2016 ( Revision of the Code of Conduct under Law 4224/2013).

HOBIS provides advisory assistance in the context of the preliminary ruling, according to art. 2 of Law 3869/2010 (Government Gazette A 130 / 3.8.2010) (indebted households).

HOBIS supervises the implementation and compliance of its member credit institutions with the Common Principles on Bank Accounts Transfer of the European Banking Industry Committee – EBIC (1.12.2008) in Greece and mediates in the settlement of the relevant disputes.

  1. Participation

HOBIS is a founding member of the Financial Dispute Resolution Network FIN-NET (2001) and participates in its Steering Committee.

HOBIS also participates in the International Network of Financial Services Ombudsman Schemes INFO Network.