Complaint and Dispute Resolution

We are a reliable partner of our customers and want to maintain long-term relations; therefore, we consistently adhere to professional ethical standards.

We constantly take care of offering the highest quality of financial services to our customers and ensuring the range and level of services that exceed their expectations.

However, if you are not satisfied with our product, service, or service quality, please let us know as soon as possible!

The bank thoroughly analyses all complaints and suggestions to improve the services and service quality accordingly.

The complaints and suggestions (hereinafter referred to as the complaints) submitted by customers of ABLV Bank, AS, ABLV Capital Markets, IBAS, and ABLV Asset Management, IPAS are subject to mandatory prior out-of-court settlement in accordance with the procedure described below.

Please submit all complaints to ABLV Bank, AS.

You can submit complaints in the following way:

  • verbally:
    • by calling your private banker,
    • by calling our Client Line at +371 6777 5555,
    • via Skype, calling ablv.riga,
    • personally visiting any of our offices;
  • in writing:
    • personally visiting any of our offices,
    • by sending Message to Private Banker in the Internetbank,
    • via e-mail info@ablv.com,
    • by fax +371 6777 5200,
    • by post, sending a letter to 23 Elizabetes Street, Riga, LV-1010, Latvia.

A written complaint submitted personally, by fax, or by post should contain your signature.
In a written complaint, please provide the following mandatory information:

  • addressee of the complaint — ABLV Bank, AS, ABLV Capital Markets, IBAS, and ABLV Asset Management, IPAS;
  • identity details of the submitter:
    • name and surname — for individuals,
  • company name, position, name and surname of the authorized person — for legal entities/other entities;
  • customer code or account number (if you are a customer of ABLV Bank, AS);
  • the claim lodged to us, the claim subject and conditions constituting the grounds for the claim. If possible, please enclose the documentary evidence supporting the grounds for the claim;
  • way of paying the compensation (if you claim financial compensation),
  • desired way of receiving response to your complaint — in the Internetbank, by post (postal address should be provided), via e-mail (e-mail address should be provided), by fax (fax number should be provided);
  • date and place of submitting the complaint.

We reserve the right to dismiss a received complaint if the abovementioned mandatory information is missing.

We also reserve the right to request information and documents evidencing the legal capacity of the complaint submitter/customer.

We try to resolve verbal complaints at once. However, if it is impossible, we reserve the right to request the complaint to be submitted in written form.

The terms of submitting the complaints and the procedure for considering those are set forth in the following documents:

We perform identification of the Customer and the Customer’s representatives in accordance with provisions of the Republic of Latvia legal acts and the Bank’s requirements. The Customer should supply the Bank with the requested information and documents evidencing accuracy of the provided information.

We try to consider the received complaints as soon as possible, and we respond within not more than 10 days after all material evidence and information are obtained and verified. If the complaint concerns an over-the-counter contract in derivative financial instruments, we provide the response within 5 days. However, if additional time is required for responding, we reserve the right to extend the term of considering the complaint to 30 days, notifying you accordingly.

When handling a complaint, depending on its nature, we assign a competent officer who will be in charge of considering the complaint, verifying the facts mentioned in the same, and deciding on the necessary measures. To prevent conflict of interests, we see that the officers whose objectiveness raises reasonable doubts are not involved in considering the complaint and providing the response.

If our response does not satisfy your claim stated in the complaint, you can appeal to the following independent institutions:

  • the Ombudsman of the Association of Commercial Banks of Latvia, if the complaint falls within the competence of the Ombudsman in accordance with the respective regulations. Detailed information on the Ombudsman and the procedure of handling complaints can be found at ACBL home page;
  • the out-of-court consumer dispute resolver, if established in the respective field, regarding the violations of normative acts on the protection of consumer rights (including cases related to rendering of investment services), if you are considered a consumer, as defined in the Consumer Rights Protection Law. Detailed information on the out-of-court consumer dispute resolvers and the list of those are available at the Internet home page of the Consumer Rights Protection Centre;
  • the Consumer Rights Protection Centre, regarding the violations of normative acts on the protection of consumer rights (including cases related to rendering of investment services), if you are considered a consumer, as defined in the Consumer Rights Protection Law. Detailed information on the Consumer Rights Protection Centre and the procedure of submitting complaints is available at the Internet home page of the Consumer Rights Protection Centre;
  • the Financial and Capital Market Commission, the competence of which includes the handling of complaints submitted by users of payment services regarding violations of the Law on Payment Services, where those users are not considered consumers, as defined in the Consumer Rights Protection Law, in case material damage to interests of the group of users of the said services (collective interests) is caused or might have been caused.

Pursuant to Latvian normative acts, all civil legal disputes fall under court jurisdiction. Therefore, civil legal disputes, controversies, or lawsuits arising out of our mutual business relations, their breach, termination, legality, validity, or interpretation, can be brought for resolution to the courts of the Republic of Latvia or the Court of Arbitration of Association of Commercial Banks of Latvia, in accordance with this Court of Arbitration Bylaws, Rules, and Regulation. Detailed information about the Court of Arbitration of Association of Commercial Banks of Latvia and the procedures for dispute resolution is available at the Internet home page of the Association.

The operations of ABLV Bank, AS, ABLV Capital Markets, IBAS, and ABLV Asset Management, IPAS are supervised by the Financial and Capital Market Commission, address: 1 Kungu Street, Riga, LV-1050, Latvia. Detailed information about the Financial and Capital Market Commission and the procedure for submitting complaints is available at the Internet home page of the Commission.

On instances stipulated by law, we have to inform the Financial and Capital Market Commission about the received complaints, as well as disclose the identity of the complaint submitter/customer.