Information about consumer rights

Consumer means a natural person who, in connection with a consumer contract, obligation arises from it or in case of a business practice, is not acting within the scope of his or her business or occupation, unless otherwise stipulated in the relevant legislation.

Prior to conclusion of the contract you have a right to:

• choose the product or service which is the most suitable for your needs from the portfolio of products and services offered by the bank,
• be informed about the nature, conditions, fees and charges and other terms related to the chosen product or service,
• have the contract proposal submitted in the legible and comprehensible form,
• not to conclude the contract should the submitted contractual or pricing conditions or Terms and conditions not comfort you for whatever reason,
• conclude, amend or terminate the contract also by electronic communication or from a distance, under the conditions stipulated by valid laws and regulations and by the bank.

During the contractual relationship with the bank you, as a consumer, have a right to:

• a full usage of the chosen service or product, as well as to use all the advantages and supplementary services, which the bank provides with such chosen service or product,
• submit a claim for selected services or products,
• seek for protection of your consumer rights by submitting a claim to an alternative dispute resolution entity or to a court,
• be protected against unfair conditions in consumer contracts under the relevant legislation,
• be informed about the changes of the contract, pricing or Terms and conditions, in the periods and in a way stipulated in the contract or Terms and conditions or in the applicable laws and regulations,
• repay the loan/mortgage in advance in accordance with the conditions stated by the applicable laws, your contract and Terms and conditions of the bank,
• withdraw from the consumer loan/mortgage contract or other product or service distance contract within 14 days from its conclusion or from a day, on which you were delivered the contractual conditions containing all the terms of the distance contract; however, when you exercise your right of withdrawal, mainly in a case of loan/mortgage distance contract you shall return to the bank any outstanding amounts and applicable interests, and in case of conclusion other product or service distance contract to pay for the product or service actually provided by the bank, without undue delay,
• terminate the contract in accordance with the conditions stipulated in the contract and Terms and conditions or in the applicable laws and regulations.

Further important information

You also have a right to:

• be informed about which personal data of yours are subject to processing by the bank and you have the right to request a correction or deletion or restriction of processing of your personal data by the bank. You also have a right of portability of your personal data and a right to object to the processing of your personal data by the bank. You can find more information about your rights and their application under the Regulation (EU) No. 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (“GDPR”), in the Notice on Data Protection Processing for the clients of VUB, a.s., their substitutes and contractual partners available on www.vub.sk;
• be provided with the commercial terms of the bank and other documents which form part of the contract,
• protection of your deposit by a Fund for Deposits Protection, according to the conditions stipulated in applicable laws and regulations,
• object to processing of your personal data for marketing purposes.

The Terms and conditions of the bank, price list and other information about the products or services offered by the bank can be found in each bank’s branch, as well as at www.vub.sk.

Should you be interested in any of the investment products of the bank, you can find the important information at www.vub.sk or you may ask any of our employees in any of our branches.

Since our bank is also an Independent Financial Agent in the insurance and reinsurance sector, in case you are interested, you may contact us with your requests related to the information about the insurance products, which our bank offers to its customers.

DISPUTE RESOLUTION

You may file your complaints either personally in a paper form at any of the bank’s branches, in writing in a paper form by mail to: VÚB, a. s., Riadenie podnetov klientov, Mlynské nivy 1, 829 90 Bratislava 25, by phone on 0850 123 000 (within Slovak Republic) or on +421 2 4855 5970 (from abroad), by e-mail on kontakt@vub.sk or by using a contact form available at www.vub.sk or by electronic banking services Nonstop banking or VÚB Online banking.

The bank decides on legitimacy of complaint without undue delay. The process of decision making on complaint shall not last more than 30 days of its submission; in complex cases the bank decides within the period of 3 months of the complaint’s receipt at the latest. In case the abovementioned deadline of 30 days will be exceeded, the bank should provide the client with information about it, within the period of 30 days of the complaint’s submission.

Should the complaint relate to the payment services in euro currency or in a currency of state being the Party to the Agreement on the European Economic Area within the European Economic Area, the bank shall decide on the legitimacy of the complaint without undue delay, however within 15 business days of the receipt of the complaint at the latest, or if the complaint cannot be resolved within 15 business days, the bank shall provide the client with an interim answer indicating the reasons for a delay and a deadline within which the client may expect the final answer, such deadline shall not exceed 35 business days of the complaint’s receipt. Should the complaint relate to the payment services regarding a) other currency than euro or currency, which is not currency of a state being a Party to the Agreement on the European Economic Area within the European Economic Area, and b) any currency outside of the European Economic Area, the bank shall decide on the legitimacy of the complaint as indicated in the previous sentence, however the overall resolution shall not exceed 35 business days of complaint’s receipt, in complex cases not more than 6 months.

In case a dispute between the bank and the client arises from the complaint or in case the client considers the bank has breached any of his/her rights, the client is entitled to submit the bank the request for redress. In case the bank rejects the client’s request for redress, the bank will inform the client about the relevant subjects of an alternative dispute resolution on a durable medium.

In case the bank rejects the client’s request for redress or the bank does not provide the client with a respond within the period of 30 days of the claim’s dispatch, the client has the right to file a claim for an alternative dispute resolution, to the Alternative Dispute Resolution Entity entitled to resolve disputes arising from the agreement on bank services or in the relation thereof, chosen by him/her. The list of subjects of an alternative dispute resolution is published on the website of Ministry of Economy of the Slovak republic. On the website of Ministry of Economy of the Slovak republic (https://www.mhsr.sk/obchod/ochranaspotrebitela/alternativneriesenie-spotrebitelskych-sporov-1/zoznam-subjektov-alternativnehoriesenia-spotrebitelskychsporov-1) the client can find more information regarding the relevant subject of an alternative dispute resolution and also conditions entitled the client to resort to this subject. One of this subject entitiled to resolve disputes arising from the agreement on bank services is Inštitút alternatívneho riešenia sporov Slovenskej bankovej asociácie with its seat at BLUMENTAL OFFICE I., Mýtna 48, 811 07 Bratislava – Staré mesto, Slovak Republic. You may find more information at: http://institutars.sk/. The details of the proposal for an alternative dispute resolution, its proceeding and other information are set out in Slovak Act No. 391/2015 Coll. on alternative dispute resolution of consumer disputes and on amendments to certain laws.

You may also file a claim to the regular court of the Slovak Republic.

The supervising authority of the bank is the National Bank of Slovakia, seated at Imricha Karvaša 1, 813 25 Bratislava, Slovak Republic.

In this document are mentioned some of the basic rights to which you as a consumer are entitled. You may find more of your rights in your contract or in the valid laws and regulations.

This document serves information purposes only.