Consideration of consumers’ applications: recommendations for financial institutions
The Bank of Russia provided clarifications to market participants regarding the specifics of considering consumers’ applications.
Presently, financial institutions have 15 business days to reply to a consumer’s application. If an institution needs additional time to analyse a specific situation, it should inform an applicant about it within 15 days since the official registration of his/her application.
In case there are several applications from the same person, a market participant is allowed to provide only one response or only one notification about the extension of the deadline. In the latter situation, the deadline for the preparation of a response is to be set from the receipt date of the first application.
It is recommended that communications with a customer be conducted via the channel specified in his/her application.