PRAVEX BANK as part of Intesa Sanpaolo, an international financial group, fulfils all the requirements of current legislation of Ukraine and the Group, as well as implements the latest global trends in consumer protection. The Bank develops its business transparently and responsibly, adhering to professional ethics and compliance policy.
For the past years, the legislation in the field of protection of the rights of financial services consumers has undergone significant changes. Unfortunately, most consumers do not know enough about their rights or do not trust financial institutions. This is often why they avoid using the bank's financial services: they keep their savings at home and do not use the bank's credit products. PRAVEX BANK helps its clients raise awareness and provides full information on the Bank's products, services, and activities, in particular:
- on the list of the Bank's services, cost of products, available mechanisms for consumer rights protection, etc., on the website and in the Bank's branches;
- on all product terms and additional payments in its advertisement;
- pre-contractual information on product terms (product passport for a consumer loan), and each client is warned about the main terms and risks of the product;
- all agreements with the clients of the Bank are clear and transparent and are set out in the font and point size prescribed by law;
- the main terms of the agreements with clients are not changed unilaterally;
- clients can always terminate the agreement with the Bank early;
- a client is always given a copy of his(her) agreement;
- clients pay only for the services for which the term of provision has already come;
- the Bank keeps informing the client during the validity term of the agreement.
This year, in July, Law On Consumer Protection during the Settlement of Overdue Exposure was adopted, which established new requirements for the interaction of the bank and collection agencies with clients who have overdue exposures. Now a bank shall monitor the activities of collection agencies with which it cooperates and gives its clients the opportunity to apply to the Bank with a complaint about the illegal activities of such agencies.
PRAVEX BANK takes care of its clients, so it tries to constantly explain the rules and requirements of the current legislation of Ukraine and Intesa Sanpaolo Group in the field of consumer protection.