• The President of the Office of Competition and Consumer Protection is continuing the investigation concerning the so-called credit holidays granted by banks, in which the Office verifies whether the actual costs connected with exercising the right to defer the repayment of a loan are calculated correctly and whether consumers are informed of them and the complaint handling policy.
• Santander Bank Polska declared that it will not recognise annexes as the confirmation of debt, whereas BNP Paribas modified the content of concluded agreements – we consider these actions as beneficial to borrowers.

As of April 9^th, the President of the Office of Competition and Consumer Protection, Tomasz Chróstny, is conducting an investigation to examine the terms on which banks are offering the so-called credit holidays to consumers. The President of the Office presented its position which can be downloaded from the UOKiK website.

The biggest reservations raised by the President of the Office of Competition and Consumer Protection concern the possibility of recognizing the annex concluded in order to exercise the deferral of the repayment of credits as confirmation of the credit balance amount determined unilaterally by the bank. Such interpretation could, in the future, give rise to severe consequences for those who would want to seek their claims in court and demand the settlement of credit with the bank, e.g. in connection with its invalidity.

In the course of pending proceedings, Santander Bank Polska and Bank BNP Paribas have declared that they will not interpret annexes as the confirmation of the amount of debt by the borrower. In the case of Santander, discontinuation type of actions after a dialogue with the Office of Competition and Consumer Protection applies to annexes that have already been concluded, whereas new annexes being concluded will no longer contain such provisions. BNP Paribas, on the other hand, issued a statement concerning the interpretation of annexes that have already been concluded and clarified the wording of new agreements.

“The provisions relating to the confirmation of debt balance are not in themselves connected with the deferred repayment of instalments due to economic difficulties of households caused by the coronavirus. Santander Bank Polska and BNP Paribas have positively responded to concerns expressed by the Office of Competition and Consumer Protection and the call for the entire banking sector to show a sense of responsibility in the face of the difficult situation of borrowers. In the course of the investigation, the aforementioned banks have removed the effects of such provisions. Our goal is to ensure that consumers are protected and we are satisfied that the introduced solution guarantees the security of customers,” said Tomasz Chróstny, President of the Office of Competition and Consumer Protection.

Borrowers may read the statements of Santander Bank Polska and BNP Paribas.

“In the course of the investigation, the Office continues to verify the extent of information provided by banks to individuals who want to exercise credit holidays as well as terms and conditions for the withdrawal from the annex. Credit holidays are not a free solution, therefore the consumer should have full, accurate and clear information about its cost and consequences which may arise in connection with its use,” said Tomasz Chróstny.

The Office of Competition and Consumer Protection continues to receive signals from borrowers concerning the terms and conditions of credit holidays. These signals indicate that consumers may not be receiving sufficient information regarding the financial consequences of deferring the repayment of credit instalments. The Consumers should be also informed about the right to withdraw from the annex within 14 days. As part of the investigation, the President of the Office verifies whether the banks diligently inform consumers about the consequences of entering into the annex and whether they do not hinder the option to withdraw from it.

The Polish Bank Association did not comment on any reservations raised in regard to the so-called credit holidays.

Consumers, please remember:

1. Provisions relating to the confirmation of debt balance may be considered unlawful and therefore not binding on consumers.
2. Signing the annex does not prevent the borrower from questioning the provisions of the agreement, even if it includes a provision on the confirmation of credit balance calculated by the bank.
3. Entry into the annex does not mean that the provisions thereof have been agreed upon individually with the customer.
4. You have the right to read the annex prior to its acceptance.
5. Familiarize yourself with the credit repayment schedule and with the amount of instalments due upon the expiry of credit holidays.
6. Specify the cost of credit holidays you are going to incur.
7. Consider whether this solution is actually good for you.
8. You have 14 days to withdraw from the signed annex to the credit agreement. You do not have to do it in person at the bank's premises. Write a statement on the withdrawal from the agreement and send it to the bank.

Should you have any doubts or suspect a breach of consumer rights, you can contact the Helpline at 801 440 220 and 22 290 89 16 or write an e-mail at the following address: [SCODE]cG9yYWR5QGRsYWtvbnN1bWVudG93LnBs[ECODE]. Legal aid provided by phone and e-mail is financed from the funds of the Office of Competition and Consumer Protection. You may also notify the Office of the banks' activities by sending your notification to [SCODE]bW9uaXRvcmluZ0B1b2tpay5nb3YucGw=[ECODE].

Consumer support:

Phone: +48 801 440 220 or +48 22 290 89 16 – consumer helpline
E-mail: [SCODE]cG9yYWR5QGRsYWtvbnN1bWVudG93LnBs[ECODE]
Consumer ombudsmen – in your town or district
Regional Consumer Centres: 22 299 60 90 – Dlakonsumenta.pl

Additional information for the media:

UOKiK Press Office
Pl. Powstańców Warszawy 1, 00-950 Warszawa, Poland
Phone +48 695 902 088, +48 22 55 60 246
E-mail: [SCODE]Yml1cm9wcmFzb3dlQHVva2lrLmdvdi5wbA==[ECODE]
Twitter: @UOKiKgovPL