What disputes are settled by the Bank of Lithuania?

We deal with disputes between consumers and insurance, financial service, additional investment service providers and/or disputes of peer-to-peer lending platform operators, arising from the provision of financial, additional investment services and/or the activities carried out by peer-to-peer lending platform operators, as well as from the contract on insurance services or the ones related to it.

The Bank of Lithuania also deals with disputes between consumers – collective investment undertakings, pension fund participants – and managers of these undertakings or funds, arising from the relationship of participation in a respective undertaking or fund, as well as disputes between investors and issuers engaged in the original issuance of securities, arising from the securities distribution relationship.

For example, we handle disputes arising from health insurance or compulsory motor third party liability insurance, housing credit or consumer credit agreements, as well as investment and payment services.

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Who can apply to the Bank of Lithuania, and when, for dispute settlement?

Are you a natural person using a certain financial services to satisfy your personal, family or household needs?
Do you believe that a financial market participant has violated your, as a financial service user’s, rights or legitimate interests arising from contracts or related relationship?
Have you submitted a written claim to the financial market participant, after becoming aware of a potential violation of your rights or legitimate interests, stating the circumstances of the dispute and your claim, but have not been able to settle the dispute amicably?

Apply to the Bank of Lithuania – we handle disputes between consumers and financial market participants arising from the provision of financial services free of charge.

What disputes are not handled?

	The dispute does not concern a financial service s
	We are not authorised to deal with a dispute (for example, the person applying is not a consumer)
	The dispute is being (or has been) settled by us, the court, arbitration or any other out-of-court consumer dispute resolution authority, or a decision has been taken to terminate the proceedings
	The parties to the dispute have agreed to refer the settlement of the dispute to another out-of-court consumer dispute resolution
	The consumer’s application does not meet the requirements set for the content and form of consumer application and the deficiencies are not eliminated within the time limit set by the Bank of Lithuania
	The consumer missed the deadline for contacting us (one year after contacting the financial market participant) or contacted the financial market participant without contacting us first
	Application is made on behalf of the consumer by a person without due authorisation
	The amount of the dispute is less than €20

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Last update: 22-06-2023