Mediation procedures between customers and financial service providers are always confidential. The customer lodges a complaint regarding a legal claim against his or her financial services provider with the ombudsman to whom the financial services provider is affiliated. The ombudsman checks whether the requirements of a mediation procedure are fulfilled and initiates the procedure.
Principle
General procedure of the ombudsman
If the conditions are met, the ombudsman’s office assigns the case to an ombudsman from the pool of independent specialists.
The ombudsman endeavours to reach an agreement between the customer and the financial services provider. He/she tries to reach a settlement between the parties as far as possible. The procedure before the ombudsman is fair, unbureaucratic, quick, impartial and generally free of charge for the customer.
What are the prerequisites for a mediation procedure?
Has the customer informed the financial services provider in advance of his/her complaint and tried to reach an agreement?
Is the complaint justified, i.e. not obviously abusive?
Has a mediation procedure already been conducted in the same matter?
Has neither a court, an arbitral tribunal nor an administrative authority already dealt with the case?