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Tuesday 19.06.2018 | Name days: Nils, Viktors
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Consumers complain most often about Swedbank

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The Consumers Rights Protection Centre (CRPC) received 358 written complaints about financial services last year. Of them, 176 concerned the actions of the credit institutions, 49 – debt collecting associations, and 33 – insurance.

Most complaints about credit institutions concerned Swedbank – 32, followed by AS ABLV Bank – 21, Latvian branch of Nordea Bank Finland PLC – 17, and DNB Bank – 16.

65% of all complaints received by CRPC concerned credit institutions’ services, 15% – debt collection services, 10% – insurance services, and 10% – other financial services.

The centre provided 450 consultations (28%) about rules of consumer credit agreements, 343 (21%) about different financial services, as well as 301 consultations about different debt collection procedures (19%).

The bulk of written and electronic complaints were related to the fact that a lender broke the validity of the bilateral agreement due to the borrower not being able to perform credit payments.

In regard to insurance services, the CRPC received complaints from consumers about the insurer refusing to pay the insurance compensations and did not inform the client about the agreement’s terms before the signing of the contract.

Complaints about commercial practice more often concerned the actions of a credit issuer in relation to the borrower: particularly the ways creditors often seek the return of the debt.

The centre also received a number of complaints about credit institutions that do not comply with this status, specifically about non-banking associations providing crediting activities without a special license.

The CRPC notes that the received complaints do not mean all of them are justified.

Ref: 102.109.109.5927


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  1. Alex says:

    It seems last week Swedbank really decided to DRIVE ME CRAZY!!! Now I’m living abroad of Latvia so I’m working with Swedbank via internet and I need to do simple thing – send some my money to bank account in the USA. I can’t do it MORE THAN WEEK!

    The bank has very little limit for money transfer. You can’t see this limit anywhere in internet and you suddenly understand its existing when you try to send your money.

    You can’t change this limit yourself you need to write a letter to the bank. But they answering your letters JUST ONE TIME PER DAY! Or you need to do international phone calls and listen to robot for long time before you will be able to speak with operator.

    When I asked to increase my limit they answered that the maximum limit is 630 LVL or 1100 USD ONLY!!! And if I want to increase it I need to travel back to Latvia and buy their access code calculator. It is for ONLY ONE MONEY TRANSFER!

    The maximum limit which they may grant without personal presence is 3000 LVL ONLY!!!
    And they said: “we will see if we can do it, we can not promise anything!” This problem you can solve BY PHONE ONLY!

    Each international money transfer costs 18 LVL or 35 USD so if you decided to send your money part by part prepare to loose big amount of them.

    Thus if you have more than 630 LVL on your account in Swedbank and you live abroad you will have VERY BIG PROBLEM when you decide to send more than 630 LVL somewhere.

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