YESTERDAY TWENTY-THREE BANKS RECEIVED COMPULSORY RECOMMENDATION FROM THE AMCU

Customer refer to banks to obtain some information, in particular, about the amount of funds on deposit accounts and interest paid, lack of credit in the bank, about the repay of loan and in other cases.

This information is provided by banks to customers’ requests in individual certificates, some of which may refrain fee, according to the tariff policy bank.

When entering into loan/deposit agreement, bank customers (depositors, borrowers) are aware of the conditions and costs of banking services. However, they may not be aware of the cost of other bank services (related to obtaining basic banking services), including certificates and their value (change of the value).

Taking into account consumer properties of certificates and the sources, where an individual bank customer may get it, the actions of banks in the form of changes in the conditions and costs of other services, including certificates, unilaterally without the consent of the other party during the contract may result in violations of legislation on protection of the economic competition and the infringement of the interests of consumers.

According to that, the AMCU recommended PAT UKREXIMBANK, PAT State Savings Bank of Ukraine, PAT JOINT STOCK BANK UKGASBANK, PAT Joint-Stock Commercial Industrial Investment Bank, PAT UKRSOTSBANK, PAT Raiffeisen Bank Aval, PAT VTB Bank, PAT KREDOBANK, PAT UKRSIBBANK, PAT KB Pravex-Bank, PAT CREDIT AGRICOLE BANK, PAT UNIVERSAL BANK, PAT MKB, PAT ALFA-BANK, PAT OTP BANK, PAT PROCREDIT BANK, PAT SBERBANK, PAT BM BANK, AB PVDENNYI, PAT PUMB, PAT MEGABANK, PAT BANK CREDIT DNIPRO, PAT BANK VOSTOK

to provide proper information sharing for their customers (individuals) about conditions and cost on providing additional services related to banking services, and to prevent changing of conditions and cost of additional services unilaterally during the term of such agreement.

The listed banks have to report to the Committee about the results about the consideration of these recommendations within 30 days from the date of receipt.

The legislation on protection of the economic competition provides compulsory for consideration recommendations by authorities or persons to whom they are given.

Provided that the provisions of recommendations are fulfilled in the case, when the violation didn’t lead to significant restriction or distortion of competition, did not cause significant damage to individuals or society, and appropriate measures to eliminate the consequences of infringement were taken, the proceedings on violation of legislation on protection of the economic competition isn’t started and initiated proceedings are closed.

 

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