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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 Directorate for Market and Consumer Protection, Ministry of Development & Investments 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, World Consumer Day, initially as “Banking Ombudsman”. In June 2005 was merged with the “Investment Ombudsman” and renamed the Hellenic Ombudsman for Banking – Investment Services (HOBIS). In October 2018 was renamed the Hellenic Financial Ombudsman – Nonprofit Alternative Dispute Resolution Organisation.  HFO – ADRO is a non-profit private law legal entity.

  1. Members


Regular Members of the Hellenic Bank Association (HBA)

Associate Members of the Hellenic Bank Association (HBA)



Members of the Association of Members of the Athens Exchanges (SMEXA)

Members of the Hellenic Fund and the Hellenic Fund and Asset Management Association

  1. Competence

The Hellenic Financial Ombudsman, the first of the two areas of activity of HFO – ADRO, examines impartially, 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 up to 1 million Euros) and mediates with the aim of resolving them out of court.

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

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

– Law 4764/2020 (art. 86) (G.G. A 256/23.12.2020) (interchange fees for card payment transactions)

– Law 4537/2018 (art. 100) (G.G. A 84/15.5.2018) (payment services)

– Law 4514/2018 (art. 73) (Official Gazette A 14/30.1.2018) (market for financial instruments)

– Law 4512/2018 (art. 102) (G.G. A 5/17.01.2018) and Ministerial Decision 5338/2018 (art. 4th, par. 2Ad) (G.G. B  40/17.01.2018) (consumer protection – distance marketing of financial services)

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

– Law 4141/2013 (a. 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 Regulation (EU) No 260/2012 – technical and business requirements for credit transfers and direct debits in euro)

– Law 4099/2012 (a.95) (G.G. A 250/20.12.2012) (UCITS)

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

The HFO receives, on average, 3,000 oral and 1,500 written complaints per year. The dispute review process is completed, on average, in 60 days, with a consensual settlement of approximately 75%.

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

At the present stage of its operation the HFMC provides supportive administrative services in Mediation procedures in disputes of a financial nature (for more information about the HFMC click here).

  1. Participation

The HFO is a founding member of the Financial Dispute Resolution Network FIN-NET (2001) and has at times participated in its Steering Committee.

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