of Bank customers have contacted in the past year, with more problems in the supervision of financial services Bafin. In the case of the authority, a total of 5.539 official complaints were received from 2018 to credit institutions and financial service providers, such as the Bafin announced. In the year before it was with a 5.425 a little less. Including General requests, the number amounted to 5.791 cases in the last year, according to 5.587 in the previous year.
consumers complained, for example, the running times of Transfers. Often they requested the Bafin to check whether banks are right financing rejected requests or business connections had terminated. The subject of entries, the eligibility and amount of charges were often. Many consumer complaints and inquiries there were transactions in securities, which increased according to the Bafin by almost 30 percent compared to 2017. A part of the cases referred to the new EU financial market Directive Mifid II, in Germany since 3. January 2018.
Since then, banks have to record each phone call of a customer with a security consultant and for a minimum of five years archive. In addition, customers must receive an exact list of how much it costs to be a financial product. In the first few months of Mifid II, clients complained to Bafin, for example, limited trading opportunities. In part, the necessary information sheets were available for products in addition.
Significantly more complaints were also about insurance. The number of entries increased from 7.367 in the year 2017 8.097. Customers complained, especially about rising premiums in private health insurance, collective changes in Car insurance policies or plans of life insurers, policies in inventory to sell to other service providers.
The Bafin supervises, together with the Bundesbank, approximately 1,500 small and medium-sized banks in Germany and is also a member of the insurance supervision charge. The Bafin can obtain at the respective institutions act and Changes to the benefit of the customers.
