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 Welcome to the


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.

Paraskevi Agalidou

Financial Ombudsman

  1. About us

The Hellenic Financial Ombudsman – Nonprofit Alternative Dispute Resolution Organisation (HFO – ADRO former HOBIS) 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, and has two units:

a) The Hellenic Financial Ombudsman (HFO)

b) The Hellenic Financial ADR Center

  1. Establishment

HFO  was set up on March 15, 1999, on World Consumer Day, initially as “Banking Ombudsman”. In June 2005 was merged with the “Investment Ombudsman” and renamed as (HOBIS) and in October 2018 was renamed as Hellenic Financial Ombudsman – Nonprofit Alternative Dispute Resolution Organisation.  HFO – ADRO is a non-profit private law legal entity.

  1. Members

The participating members of HFO – ADRO are the Hellenic Bank Association, the Association of Members of the Athens Exchange and the Hellenic Fund and Asset Management Association.

  1. Jurisdiction

HFO, the first unit of the HFO – ADRO, 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.

HFO examines disputes regarding electronic contracts for the provision of banking and investment products and services through the EU’s ODR platform.
HFO examines cross-border disputes as a member of the Financial Dispute Resolution Network(FIN-NET).

HFO  is a competent scheme for out-of-court dispute resolution (ADR) based on:

– Law 4514/2018 (art. 73) (G.G. Α 14/30.1.2018) (market for financial instruments),

–  Law 4537/2018 (art. 100) (G.G. Α 84/15.5.2018) (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)

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

– 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)

HFO 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 70% of the cases handled.

The Hellenic Financial ADR Center, the second unit of the HFO-ADRO, was established to contribute to the dissemination and promotion of out-of-court procedures for resolving private disputes of a financial nature (credit, investment, insurance, commercial, etc.), offering high quality services in this field.

At this stage of its operation, the Center provides supportive administrative services  for the out-of-court settlement of financial disputes with the mediation process as regulated in Law 4512/2018. You can find more information about the Center here.

  1. Participation

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

HFO-ADRO also participates in the International Network of Financial Services Ombudsman Schemes INFO Network.