The new rules have come into force.
Starting today, April 27, new rules for banks came into force. The requirements for agreements on loans, deposits and current accounts have become more stringent — financial institutions must now fully disclose information (including interest and payments on loans), not print nuances in small print, etc., reports with reference to.
The National Bank of Ukraine adopted a resolution on this back in January. Now the term that was given to banks to bring their work in line with the new rules has expired.
New requirements for contracts
Banks are obliged to indicate in the contract a full description of the service:
In the deposit agreement, this is a specific date for the return of the deposit, information about the bank’s right to extend the term of the deposit, etc.
In the consumer loan agreement — the list and cost of additional services, conditions under which it is possible to change the interest rate or other payments, etc.
The text of the agreement must be stated in font size of at least 11 printed points.
Banks are also prohibited from:
include in contracts norms that limit the rights of consumers to file a complaint or claim in court;
change the terms of the contract without informing the client;
demand to pay for services not yet received under the contract.
New requirements apply to contracts signed by the client himself.