The procedure for out-of-court resolution

The Financial Ombudsman performs out-of-court resolution of disputes between consumers of financial services and financial organizations. The Financial Ombudsman conducts the activities on the basis of the Federal Law “On the Ombudsman for the Rights of Consumers of Financial Services.” The Financial Ombudsman is independent of government bodies, organizations, and officials.

Acceptance and review of consumer complaints by the Financial Ombudsman is free of charge.

You have to send a claim in Russian to the financial institution with which you have a dispute before appealing to the FOS.

In cases stipulated by law, consumers of financial services have the right to file a claim to a financial organization in a judicial proceeding only after contacting the Financial Ombudsman.

Based on the results of the review of the consumer’s complaint, the Financial Ombudsman makes a decision that must be executed by the financial organization within the time period specified in the decision. In case of disagreement with the Financial Ombudsman’s decision, the consumer of financial services has the right to apply to the court to protect his rights with a claim against the financial organization. In case of disagreement with the Financial Ombudsman’s decision, the financial organization has the right to litigate it in court.