Principles
The Bank’s complaints policy follows the under noted principles.
- Customers must be treated fairly at all times.
- Complaints raised by customers are dealt with courtesy and on time.
- Customers are fully informed of avenues to escalate their complaints/grievances within the organization and their rights to alternative remedy, if they are not fully satisfied with the response of the Bank to their complaints.
- CDB will treat all complaints efficiently and fairly as they can damage the Bank’s reputation and business if handled otherwise.
- The Bank’s employees must work in good faith and without prejudice to the interests of the customers.
Customer Complaints
Examples of complaints may include:
- Complaint about the level of service that is being provided;
- Dispute about instructions or execution of client orders;
- Complaint about a minor problem that becomes repetitive;
- Complaint about excessive or incorrect charges;
- Allegations of bad faith, malpractice or impropriety.
For redressal of issues customers may contact us as follows:
- In person
- At any CDB Branch - By phone
- Contact one of our dedicated staff at+357 22 846 500 - In writing
- By e-mail at complaints@cdb.com.cy
- By mail at Alpha House, 50 Arch. Makarios III Ave., CY-1065 Nicosia, P.O. Box 21415, CY-1508 Nicosia, Cyprus
- By fax at +357 22 846 601
Handling a complaint
You have the right to register a complaint if you are not satisfied with the services provided by the Bank. You can give your complaint in writing, verbally or over the telephone. A complaint register is maintained by the Bank.
The Bank will acknowledge in writing the receipt of your complaint within 3 working days from the date the complaint was received.
Within 10 working days of written acknowledgment, the Bank will provide you with a formal response in writing. If this is not possible (e.g. due to the nature of the complaint), a progress report will be sent to you with an indication of when you can expect a final response. Our focus would remain on the quality and completeness of the response, with speed of delivery being an important but not overriding factor.
If the complaint is not resolved within the given time or if you are not satisfied with the solution, you can approach the Banking Ombudsman with your complaint or other legal avenues available for grievance redressal.
Alternative methods of consumer disputes resolution:
If you are not satisfied with the Bank’s response to your complaint, and provided that you are a consumer (i.e. a natural person who is acting for purposes which are outside his trade, business, craft or profession as regards the subject of the complaint), you may refer for an out-of-court settlement of the dispute, to an approved alternative dispute resolution entity (“ADR Entity”), according to the provisions of the Law on Alternative Consumer Dispute Resolution of 2017 (N85(I)/2017). Any information with regard to the ADR Entities handling financial disputes and of the relevant services offered, is available on the official website of the Consumer Protection Service of the Ministry of Commerce and Industry http://www.consumer.gov.cy/
Banking Ombudsman Scheme
You might have the right to refer any complaint to the Banking Ombudsman provided that the provisions of the relevant law, the Establishment and Operation of a Single Agency for the Out-of-Court Settlement of Disputes of Financial Nature (Financial Ombudsman) Law of 2010, Law no.84(Ι)/2010, are satisfied. The details of the Banking Ombudsman Scheme, as well as the contact details of the Ombudsman, are available on http://www.financialombudsman.gov.cy.
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