Financial services and money investment

Do you have a dispute with a financial institution? You can turn to a specialised ADR body, e.g. if the dispute concerns consumer credits, money transfers or investments.

Practical tip: You can check if your bank is member of an ADR body on the website of the Federal Financial Supervisory Authority (BaFin), . Otherwise, the dispute falls under the jurisdiction of either the Federal Bank or the Federal Financial Supervisory Authority.

Update : May 2019

Financial services

These are the ADR bodies competent for banking business:

(Schlichtungsstelle beim Deutschen Sparkassen- und Giroverband e.V.)

is competent for disputes against members of the German Savings Banks Association (Sparkassen) in most Länder/federal states of Germany.

Binding decisions: Decisions of the ADR body in relation to payment accounts of basic features are legally binding for the savings bank.

Charlottenstr. 47

10117 Berlin

Phone: +49 30/202251510

E-Mail: schlichtung@dsgv.de

Website

 

Some German savings banks are members of regional dispute resolution bodies:

 

1. The Conciliation Board of the Saving Banks Baden-Württemberg*

(Sparkassen-Schlichtungsstelle Baden-Württemberg)

handles complaints against its member financial institutes.

Am Hauptbahnhof 2

70173 Stuttgart

 Tel.: +49 711/12777843

E-Mail: schlichtung@sv-bw.de

Website

 

2.  The Conciliation Board of the Saving Banks Schleswig-Holstein

(Schlichtungsstelle des Sparkassen- und Giroverbandes für Schleswig-Holstein)

handles complaints against all savings banks in Schleswig-Holstein (federal state).

Faluner Weg 6

24109 Kiel

Tel.: +49 431/5335-511

E-Mail: schlichtungsstelle@sgvsh.de

Website

(Kundenbeschwerdestelle beim Bundesverband der Deutschen Volksbanken und Raiffeisenbanken)

conciliates disputes between consumers and Volksbanken and Raiffeisenbanken which are members of the complaints body.

Schellingstraße 4

10785 Berlin

Phone: +49 30/2021-1639

E-Mail: kundenbeschwerdestelle@bvr.de

Website

(Ombudsmann der Privaten Banken)

handles complaints against private banks that are members of the ADR body.

Practical tip: By using the check you can verify that this ADR body is competent for your complaint.

Postfach 04 03 07

10062 Berlin

Phone: +49 30/16633166

E-Mail: ombudsmann@bdb.de

Website

(Verbraucherschlichtungsstelle beim Bundesverband Öffentlicher Banken Deutschlands e.V. VÖB)

deals with complaints of consumers against German financial institutions held directly or indirectly by the public sector either in whole or in part that are members of the ombudsman.

Practical tip: By using the check you can verify if this ADR body is competent for your complaint.

Postfach 11 02 72

10832 Berlin

Phone: +49 30/8192295

E-Mail: ombudsmann@voeb-kbs.de

Website

(Schlichtungsstelle Bausparen)

assesses complaints against Bausparkassen which are members of the association.

Postfach 30 30 79

10730 Berlin

Phone: +49 30/590091500

E-Mail: info@schlichtungsstelle-bausparen.de

Website

 

And what if my bank is not member of one of these ADR bodies? In this case, the following entity is competent for your complaint:

(Schlichtungsstelle der Deutschen Bundesbank)

is competent if you would like to lodge a complaint against a bank which is not member of any of the aforementioned ADR bodies.

Postfach 11 12 32

60047 Frankfurt/Main

Phone: +49 69/2388-1907

E-Mail: schlichtung@bundesbank.de

Website

 


Money investment

 

These are the ADR bodies competent for money investment:

(Ombudsstelle für Investmentfonds)

assesses, for example disputes concerning open or closed funds or savings contracts on a fund-based or custodian basis against member institutes.

Practical tip: By using the check you can verify if this ADR body is competent for your complaint.

Binding decisions: The decision of the ombudsman is legally binding for the trader (provided that the claim’s value does not exceed 10.000€) while it is voluntary for consumers.

Unter den Linden 42

10117 Berlin

Phone: +49 30/64490460

E-Mail: info@ombudsstelle-investmentfonds.de

Website

(Ombudsstelle für Sachwerte und Investmentvermögen)

helps in case of disputes against providers of shares in closed investment asset pools and closed-end funds. The provider has to be a member of the Ombudsman.

Binding decisions: The decision of the ombudsman is legally binding for the trader (provided that the claim’s value does not exceed 10.000€) while it is voluntary for consumers.

Postfach 64 02 22

10048 Berlin

Phone: +49 30/25761690

E-Mail: info@ombudsstelle-gfonds.de

Website

(The VuV – Ombudsstelle beim Verband unabhängiger Vermögensverwalter Deutschland e.V.)

conciliates disputes between consumers and asset managers, which are members of the association. This ADR body is competent for disputes in relation to financial services. The members of the association are obliged to take part in the ADR procedure.

Stresemannallee 30
60596 Frankfurt am Main

Phone.: +49 69/66055010

E-Mail: contact@vuv-ombudsstelle.de

Website

And what if the provider of the money investment product is not a member of these dispute resolution bodies?

(Schlichtungsstelle der Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin)

is competent if no other notified consumer dispute resolution body is competent and if the financial institute concerned is subject to financial supervision. If you are not sure, do not hesitate to enquire at the Federal Financial Supervisory Authority. 

Practical tip: You can file the application in English.

Graurheindorfer Straße 108

53117 Bonn

Phone: +49 228/41080

E-Mail: schlichtungsstelle@bafin.de

Website

 

Conciliation board for commercial insurance, investment and credit intermediaries

 

This is the ADR body for financial intermediaries:

(Schlichtungsstelle für gewerbliche Versicherungs-, Anlage- und Kreditvermittlung)

is competent in case of disputes between consumers and intermediaries of insurances, investment or banking services if the intermediary has joined the ADR scheme or is willing to participate in ADR proceedings.

Glockengießerwall 2

20095 Hamburg

Phone: +49 40/696508-90

E-Mail: kontakt@schlichtung-finanzberatung.de

Website

 

* Alternative Dispute Resolution body

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