The Polish Financial Supervisory Authority has examined how banks settle accounts with customers in order to repay commission on previously paid consumer loans. It turns out that almost all of the banks surveyed had money in their technical accounts that were waiting for customers to collect it.
- It is mainly about customers who got a loan from a bank other than the parent bank and then did not renew any product in it
- Most banks make one attempt to contact the customer who deserves a refund
- The scale of this phenomenon may be large, but the amounts to be paid by themselves – not necessarily
- More such information can be found on the home page of Onet.pl
The Polish Financial Supervisory Authority examined how banks settle commission payments with customers On consumer loans paid off prematurely. The obligation to this settlement was imposed on banks by the Consumer Credit Act, according to which the customer must receive a refund of that part of the commission that falls proportionately in the period from early repayment to the date of repayment, resulting from the contract
“Almost all the banks examined show overpayment amounts in the bank’s technical accounts, which are waiting to be distributed by clients,” KNF wrote in response to questions sent to it by PAP.
The Polish Financial Supervisory Authority did not provide information on the total amount of commission awaiting clients. It is also not known how many clients should receive a refund of a portion of the commission. The Polish Banks Association also does not have such information.
Given the number of banks that give out loans to consumers, there will always be a few who will forget about the possibility of collecting a commission. With the big banks making millions of loans, there could be thousands of such people. And you have to remember that these are not large amounts. It can sometimes be a few zlotys to pick up
– said Norbert Jeziolowicz, Director of the Association of Polish Banks.
According to information from the Polish Financial Supervisory Authority, these are mainly customers who received a loan from a bank other than the original one, and who – after paying off obligations – did not renew any other product. In such cases, banks leave the money in the technical account, used to service the account, and then try to contact the customer.
“It has been established that banks make efforts to inform the customer who does not have a payment account with the lender of the calculated amount of the overpayment resulting from the settlement of the consumer loan in connection with the early full repayment. Entities using postal money orders have been identified for loan settlement. However, most of the banks surveyed adopted a one-time attempt to contact the customer in the form of a regular letter addressed to the last known address of the bank or an SMS” – Written in response to PAP questions.
According to Jeziolowicz, it is often not easy to reach such a client.
Norbert Jeziulovich said: – It often turns out that the customer’s bank address is out of date, or the customer has changed the phone number, email address or, for example, gone abroad.
Lost money – what happens to her?
The Polish Financial Supervisory Authority issued a position on the settlement of commissions on consumer loans, appealing to financial institutions to create their own solutions that “will effectively eliminate the risk of not informing the borrower of the money owed to him due to the settlement of full early repayment of the loan and the risk of not returning the money owed to the borrower. This right within The time-limit stipulated in the Consumer Credit Act. However, she did not mention any of her proposals.
It is difficult to find a way to get rid of such a danger. We cannot require the customer to send his data to us after the contract ends, as this may end up recognizing such provisions as an abusive clause. Unfortunately, when redeeming the excess commission, client activity is necessary and this is the biggest problem. Customers simply have to hear that it is possible
– said Norbert Jeziolowicz of the Polish Banks Association.
He added that these unclaimed funds are usually kept in technical accounts for several years, for example for 10 years, and then deposited in the reserve capital of the bank.
– except that if the customer informs after this time, the refund will be given anyway – added Jeziolowicz.