Financial servicesAdvice for consumers regarding online or mobile banking

Today, the European Banking Authority (EBA) released a Factsheet, which helps European consumers to make better and more informed choices on financial services through digital means before and after concluding a contract.

These are the proposed steps for consumers:

  • Reading and thoroughly understanding the terms and conditions before signing any financial service agreement.

  • Paying particular attention to the financial conditions in terms of fees and charges that are disclosed in the pricing list.

  • Thinking about security, especially how sensitive personal data is being handled.

  • Filing a complaint or even considering legal action eventually once consumer rights have been denied or violated.

Source: EBA

More information and the Factsheet