Financial services and money investment
Do you have a dispute with a financial institution? Then you can turn to a specialised ADR body, e.g. if the dispute concerns consumer credits, money transfers or investments.
How do I find the right alternative dispute resolution body?
You can check if your bank is member of an ADR body on the website of the Federal Financial Supervisory Authority.
Otherwise, the dispute falls under the jurisdiction of either the Federal Bank or the Federal Financial Supervisory Authority.
Financial Services
These are the ADR bodies competent for banking business:
1. Conciliation Board of the German Savings Banks and Giro Association*
(Schlichtungsstelle beim Deutschen Sparkassen- und Giroverband e.V.)
is competent for disputes against members of the German Savings Banks Association (Sparkassen) in most Länder (federal states) of Germany.
Charlottenstr. 47
10117 Berlin
Phone: +49 30/202251510
E-Mail: info@s-schlichtungsstelle.de
Some German savings banks are members of regional dispute resolution bodies:
2. The Conciliation Board of the Saving Banks Baden-Württemberg*
(Sparkassen-Schlichtungsstelle Baden-Württemberg)
Am Hauptbahnhof 2
70173 Stuttgart
Tel.: +49 711/12777843
E-Mail: schlichtung@sv-bw.de
3. The Conciliation Board of the Saving Banks Schleswig-Holstein
(Schlichtungsstelle des Sparkassen- und Giroverbandes für Schleswig-Holstein)
handles complaints against all savings banks in Schleswig-Holstein (federal state).
Faluner Weg 6
24109 Kiel
Tel.: +49 431/5335-511
E-Mail: schlichtungsstelle@sgvsh.de
* Alternative Dispute Resolution body
(Kundenbeschwerdestelle beim Bundesverband der Deutschen Volksbanken und Raiffeisenbanken)
conciliates disputes between consumers and Volksbanken and Raiffeisenbanken which are members of the complaints body.
Schellingstraße 4
10785 Berlin
Phone: +49 30/2021-1639
E-Mail: kundenbeschwerdestelle@bvr.de
(Ombudsmann der Privaten Banken)
handles complaints against private banks that are members of the ADR body.
Practical tip: By using the check you can verify if this ADR body is competent for your complaint.
Postfach 04 03 07
10062 Berlin
Phone: +49 30/16633166
E-Mail: ombudsmann@bdb.de
(Verbraucherschlichtungsstelle beim Bundesverband Öffentlicher Banken Deutschlands e.V. VÖB)
deals with complaints of consumers against German financial institutions held directly or indirectly by the public sector either in whole or in part that are members of the ombudsman.
Postfach 11 02 72
10832 Berlin
Phone: +49 30/8192295
E-Mail: ombudsmann@voeb-kbs.de
(Schlichtungsstelle Bausparen)
assesses complaints against Bausparkassen which are members of the association.
Postfach 30 30 79
10730 Berlin
Phone: +49 30/590091500
And what if my bank is not member of one of these ADR bodies? In this case, the following entity is competent for your complaint:
The Schlichtungsstelle der Deutschen Bundesbank*
is competent if you would like to lodge a complaint against a bank which is not member of any of the aforementioned ADR bodies.
Postfach 10 06 02
60006 Frankfurt am Main
Money investment
(Ombudsstelle für Investmentfonds)
assesses, for example, disputes concerning open or closed funds, or savings contracts on a fund-based or custodian basis against member institutes
Practical tip: By using the check you can verify if this ADR body is competent for your complaint.
Binding decisions: The decision of the ombudsman is legally binding for the trader (provided that the claim’s value does not exceed 10.000€) while it is voluntary for consumers.
Unter den Linden 42
10117 Berlin
Phone: +49 30/64490460
(Ombudsstelle für Sachwerte und Investmentvermögen)
helps in case of disputes with providers of shares in closed investment asset pools and closed-end funds. The provider has to be a member of the Ombudsman.
Binding decisions: The decision of the ombudsman is legally binding for the trader (provided that the claim’s value does not exceed 10.000€) while it is voluntary for consumers.
Postfach 64 02 22
10048 Berlin
Phone: +49 30/25761690
E-Mail: info@ombudsstelle.com
(The VuV – Ombudsstelle beim Verband unabhängiger Vermögensverwalter Deutschland e.V.)
conciliates disputes between consumers and asset managers, which are members of the association. This ADR body is competent for disputes in relation to financial services. The members of the association are obliged to take part in the ADR procedure.
Stresemannallee 30
60596 Frankfurt am Main
Phone.: +49 69/66055010
E-Mail: contact@vuv-ombudsstelle.de
And what if the provider of the money investment product is not a member of these dispute resolution bodies?
The Schlichtungsstelle der Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin*
is competent if no other ADR body is competent and if the financial institute concerned is subject to financial supervision. If you are not sure, do not hesitate to enquire at the Federal Financial Supervisory Authority.
Practical tip: You can file the application in English.
Graurheindorfer Straße 108
53117 Bonn
Phone: +49 228/41080
E-Mail: schlichtungsstelle@bafin.de
Financial intermediaries
(Schlichtungsstelle für gewerbliche Versicherungs-, Anlage- und Kreditvermittlung)
is competent in case of disputes between consumers and intermediaries of insurances, investment or banking services if the intermediary has joined the ADR scheme or is willing to participate in ADR proceedings.
Glockengießerwall 2
20095 Hamburg
Phone: +49 40/696508-90
* Alternative Dispute Resolution body
