- The HFO handles complaints submitted by individuals and businesses (with an annual turnover of up to €3,000,000) free of charge.
- The HFO deals with disputes relating to the provision of products and services by the following financial institutions established in Greece and participating in its procedure: Banks (both regular and associate members of the Hellenic Bank Association), Investment companies (members of the Hellenic Fund and Asset Management Association (HE.F.A.M.A.) and the Association of Members of the Athens Stock Exchange (SMEXA) and Credit Servicing Firms.
- The HFO handles disputes submitted within one year from the date on which the interested party submitted a relevant complaint to the provider (bank, investment company, credit servicing firm, etc.).
- The HFO does not handle disputes that are being examined or have been previously examined by a Court or other Alternative Dispute Resolution body.
- The HFO may dismiss disputes that are frivolous or vexatious, as well as disputes whose handling would significantly impair its effective functioning.
- The HFO does not handle disputes relating to providers’ business policies, such as the amount of expenses, loan application rejection, etc.
- It also does not deal with requests for debt settlement. In this case, you can contact the HFMC.
- The HFO handles cross-border disputes as a founding member of the European Financial Dispute Resolution Network (FIN-NET).
- The HFO is a competent body for out-of-court dispute resolution (ADR) based on a number of legislative provisions.
