Latviski English По-русски
Saturday 22.09.2018 | Name days: Maigurs, Mārica, Māris

Consumers complain most often about Swedbank

(No Ratings Yet)

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.


Leave a reply

  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.

Court reschedules viewing of criminal case due to Non-citizens Congress leader’s poor health

Riga City Vidzeme Suburb Court announced today that the viewing of the criminal case in which leader of Non-citizens Congress Aleksandrs Gapoņenko is accused of inciting national hate will be postponed to a later date.

Producer prices in industry up 1.0% in Latvia in August

Compared to July, level of producer prices in the Latvian industry rose by 1.0 % in August 2018. Level of prices of products sold on the domestic market grew by 1.9 %, but of exported products – went up by 0.1 %.

Bishop: priest suspected of sexual abuse to be operated on in hospital

Pāvels Zeiļa, who is a priest of Rezekne Aglona diocese and the suspect in the criminal case regarding sexual violence and human trafficking, will undergo a complicated surgery on Friday, 21 September, as reported by Bishop Jānis Bulis.

Study: residents withdraw money from ATMs less often but in larger amounts

Every now and then discussions about dropping cash money altogether become active in society, AS PrivatBank representatives say.

HND Grupa design company, involved in Zolitude tragery, declared insolvent

Building engineer Ivars Sergets company HND Grupa, which was involved in the case revolving around the Maxima supermarket that collapsed in Zolitude, killing 54, not five years ago, has been declared insolvent, as reported by Latvijas Avīze.

Deputy Chief of State Fire and Rescue Service suspected of misappropriation

Latvia’s Interior Affairs Ministry’s Internal Security Bureau has detained deputy chief of State Fire and Rescue Service Ints Sēlis and one other official – a senior inspector, as reported by Panorāma programme of LTV.

Washington sanctions China for buying Russian military equipment

U.S. government has introduces sanctions against the Chinese army over a purchase of fighter jets and missile systems from Russia, despite a U.S. sanctions law targeting Moscow for attempts to sway in the 2016 U.S. election.

Autumn expected to begin soon in Latvia

Friday, 21 September, is expected to be warm in Latvia. Sun and considerable amount of clouds are expected, but not precipitation. Wind will draw in from the south, reaching a speed of 15-17 m/sec in western and central regions, as reported by Latvia’s Environment, Geology and Meteorology Centre.

Brexit: a finish line with no end in sight

Less than 200 days are left before Britain officially leaves the European Union. The state of the agreement between Britain and EU only serves to create more chaos, from which neither Britain nor EU, or even Latvia will benefit.

EU underlines to London: No-deal Brexit also option

European Union's top officials and member state leaders planned to push for a Brexit deal in October, while urging London to give ground on the issues trade and the Irish border by November, to avoid a no-deal Brexit.

Lithuanian PM, a presumable presidential hopeful, set to curb grocery price growth

Having chastised food retailers on many occasions for high grocery prices, Saulius Skvernelis, the Lithuanian Prime Minister, stepped forward in the bid to harness local supermarkets. The presumed presidential candidate of the ruling Farmers and Greens (LVŽS) has summoned this week executives of major retail food chains, scolded them and reaffirmed his pledge to rein in the edging up prices.

Industrial prices in Estonia – up by 3.4% on year

The industrial price index in Estonia has risen from August 2017 to August this year by 3.4%, official statistics show.

Latvian parliament approves transition to competence-based approach in education content

On Thursday, 20 September, Latvia’s Saeima approved in the final reading amendments to the Education Law, necessary for the gradual introduction of competence-based approach in education materials.

Latvian Saeima wants to disallow shareholders to work in company management board

On Thursday, 20 September, Saeima approved in the first reading amendments to the Credit Institutions Law that provide for multiple measures to enhance Latvia’s finance system and its long-term stability, as reported by the parliament’s press-service.

Aglone Council prohibits residents from organizing protests during Pope Francis’ visit

A protest against the Catholic Church’s ban on abortions and expression of shock in relation to the recent sex scandals involving Catholic priests was planned to take place in Aglone during Pope Francis’ visit, but the city council decided to disallow them.

Latvian parliament conceptual supports pension bonus indexation

On Thursday, 20 September, Saeima supported in the first reading several initiatives for a more rapid pension climb for several groups of pensioners, as reported by Saeima press-service.

Majority Saeima deputies support open president vote; UGF members fail to decide unanimously

On Thursday, 20 September, amendments to the Constitution regarding open election of the state president were approved in the second reading.

Four Estonian parties have strong support, enough to enter Riigikogu

Four Estonian parties are believed to currently have enough support to enter the Estonian parliament, a broad opinion poll showed, as leading parties compete for voter backing.

Vitol Group concerned over state of rule of law in Latvia; turns to state officials

One of the largest energy resource traders in the world – Vitol Group – has sent a letter to Latvia’s highest ranking officials, expressing deep concern over the rule of law and application of legislative acts in the litigation between LatRosTrans and Polocktransneft Druzba over the EUR 66 million worth technological oil.

As Pope heads to Baltics, more attention to Catholic sex abuse

The time, when Roman Catholic Pope Francis is set to visit the Baltics, greatly differs from the visit by Saint John Paul II in 1993. There is public resentment over the countries spending several million euros to host the trip of the pontiff and the Catholic sex abuse scandals are topic of discussion.

Officials asked to take responsibility for misuse of state resources

If misuse of state resources takes place, officials have to take responsibility and pay for the damages caused to the state, says Public Expenditure and Audit Committee chairman Andris Bērziņš.

May asks EU not to divide Britain, while Brussels waits for UK change of position

At a European Union summit in Austria, UK's Prime Minister Theresa May called on EU leaders leave behind "unacceptable" Brexit demands that according to her may rip Britain apart.

Saeima decides to divide EUR 8.3 million of healthcare budget funds to finance reforms

Saeima’s Budget and Finance Committee has supported the initiative to divide EUR 8.277 million from the planned chronic patient care funding to further finance reforms in the country’s healthcare system.

20 complaints received in first 10 days of data protection regulation

In the first 100 days since adoption of European General Data Protection Regulation, Latvia’s Data State Inspectorate has received 20 data protection violation reports, said the centre’s director Daiga Avdejanova during a meeting of Saeima’s European Affairs Committee.

Ministry: non-banking lenders should assess clients’ solvency more carefully

Although certain improvements have been noticed in the industry, Latvia’s Economy Ministry invites amendments to make non-banking lenders perform more careful evaluation of clients’ solvency and allow creditors exchange information with one another.

Newest comments