Banks in Bulgaria will pay their clients in case of proven fraud and drained debit card accounts
Last update: 2009-09-07 02:41:12
Since this fall banks will be obliged by new laws to respect more their clients` rights. Banks will have to pay back all the money that were "drained" from their client`s debit card if the owner proves that he does not have any involvement in the affair. Also if a client takes a consumer loan he can return the provided funds in fourteen days if he is not pleased with the conditions or just changes his mind. Very important amendment is that there will be no early repayment penalties. Banks will be obliged to give their client full and detailed information without client`s request.
Changes will become possible after the entry into force of two key new legislation acts - the Consumer Credit Act and the newly drafted Payments Act. The stipulations of the new Consumer Credit Act are already drafted and ready for voting in the National assembly. The provisions are fully consistent with the requirements of Directive 2008/48 of the European Commission.