The Conciliation Board

The Austrian banking industry has established a Joint Conciliation Board to settle certain complaints. Customers of all participating credit institutions may turn to the Conciliation Board.

An independent and impartial ombudsperson who is not subject to instructions will decide on the cases.

Customer complaints will be dealt with quickly, based on a procedure that fulfils the requirements of the European Union.

The Conciliation Board is authorised to try and resolve a complaint when it concerns the following areas (areas of jurisdiction):
• cash deposits on an account (current account, passbook) and all procedures required to keep an account
• domestic and cross-border payment transfers (in EU area)
• internet banking, electronic banking; bank transactions by telephone, e-mail, fax, the internet, etc.
• transfer of a current account to another bank
• consumer credit agreements (starting from 12 May 2010)
• information provided when granting a loan to build, acquire or renovate a freehold flat or a home in private ownership
• banking transactions using payment cards (TM cards, credit cards, prepaid cards, etc.)