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| 1.What is Pengeinstitutankenævnet (The Danish Complaint Board of Banking Services)? | |
| Pursuant to the Danish Act of Consumers, the Complaint Board has been authorised by the Danish Minister of Economic and Business Affairs to deal with complaints against financial institutions (banks, saving banks and co-operative banks). The Complaint Board has been established by Finansrådet (the Danish Bankers Association), Sammenslutningen Danske Andelskasser (the Union of Danish Co-operative Banks) and Forbrugerrådet (the Danish Consumer Council). |
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| 2. Against whom may you file a complaint? | |
| The Complaint Board deals with complaints against Danish and Faroese financial institutions and their local subsidiaries (for example: finance companies). The Complaint Board does not deal with complaints against subsidiaries consisting of mortgage banks or insurance companies. Each of these has its own approved complaint board. The Complaint Board deals with complaints against Danish branches of foreign financial institutions. However, the Complaint Board is not authorised to deal with complaints against Greenlandic financial institutions. |
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| 3. Who may file a complaint? | |
| The Complaint Board deals with complaints concerning relations between private consumers and their banks. Complaints from businesses can be considered if the complaint does not differ considerably from complaints from private consumer complaints. In keeping with the Board’s practice, complaints received from limited companies will not be considered. | |
| 4. What may a complaint concern? | |
| The complaint must concern a financial dispute, i.e. concern a financial issue. The Board cannot consider a complaint concerning staff behaviour, marketing or other general matters. The Complaint Board is not a disciplinary board. The Danish FSA can deal with complaints concerning a financial institution’s neglect of the regulations in Executive Order of Good Business Practice for Financial Undertakings (No. 965 of 30 September 2009). The address of the Danish FSA is: Finanstilsynet Aarhusgade 110 DK-2100 Copenhagen Oe Denmark www.ftnet.dk |
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| 5. How to file a complaint. | |
| Before filing a complaint with the Board you must first have attempted without success to reach a satisfactory arrangement with the financial institution in question. See further information here. To file a complaint you must use the required complaint form and pay a fee of 150.00 DKK (after 1 January 2012 the fee is 200 DKK). The fee will be returned if the Board finds for the complainant. See the complaint form here. The address of the Complaint Board: Pengeinstitutankenaevnet (The Danish Complaint Board of Banking Services) Amaliegade 8 B, 2. P.O. Box 9029 DK-1022 Copenhagen K Denmark Telephone: +45 35 43 63 33 Hours: 9.30 - 12.30 (Monday-Friday) Telefax: +45 35 43 71 04 |
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| 6. How does the Complaint Board work? | |
| The complaint is presented to the Board once it has been prepared in written form by the secretariat, unless a solution to the dispute has been reached during this preparation time. The Board rules on the case. The decision is not binding to the parties but the financial institution must notify the Board within 4 weeks if it intends not to comply with the decision. The complainant will be informed of the financial institution's intention not to comply. The complainant will also be informed about his/hers possibilities for bringing the case to court. |
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| 7. What is the composition of the Complaint Board? | |
| The Board is chaired by a Supreme Court judge and four vice-chairmen two from a high court and two from a district court. The other members of the Board are appointed by the Consumer Council and the Bankers Association. Each case is treated by the chairman or a vice-chairman, two members appointed by the Consumers Council and two members appointed by the Bankers Association. |
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