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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 (art. 62) (G.G. Α’ 195/17.8.2007) (markets for financial instruments)

– Law 3862/2010 (art. 79) (G.G. Α’ 113/13.7.2010) (payment services)

– Law 4021/2011 (art. 26) (G.G. Α’ 218/03.10.2011) (supervision of credit institutions)

– Law 4099/2012 (art. 95) (G.G. Α’ 250/20.12.2012) (UCITS)

– Law 4141/2013 (art. 30) (G.G. A’ 81/05.04.2013) (measures for the implementation of Regulation (EC) 924/2009 on cross-border payments in the Community and of Regulation (EU) No 260/2012 – technical and business requirements for credit transfers and direct debits in euro)

– Credit and Insurance Committee Decision, Bank of Greece 195/1/29.07.2016 (G.G. B’ 2376/02.08.2016) (Revision of the Code of Conduct under Law 4224/2013)

– Law 4438/2016 (art. 37) (G.G. A’ 220/28.11.2016) (credit agreements for consumers relating to residential immovable property) and

– Law 4465/2017 (art. 2, 14, 16, 19) (G.G. A’ 47/04.04.2017) (comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features)

– Law 4512/2018 (GG. A’ 5/17.01.2018) and Ministerial Decision 5338/2018 (art. 4i, par. 2Ad) (G.G. B’ 40/17.01.2018) (consumers protection – distance marketing of financial services)

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

  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.