Erscheinung:02.05.2022 | Topic Consumer protection War in Ukraine and global financial sanctions
BaFin publishes information for refugees and consumers
Banks cannot refuse to open a basic payment account on the basis that the applicant does not have sufficient knowledge of German. This is the answer to one of the frequently asked questions that the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has published today on its website. The FAQs relate to the war in Ukraine and the global financial sanctions.
BaFin makes it clear that all consumers legally residing in the European Union are entitled to a basic payment account. This also applies to persons who have fled to Germany because of the war in Ukraine.
In the FAQs, BaFin also addresses questions currently being asked by many consumers who are indirectly affected by the consequences of the war and the financial sanctions.
Among other things, BaFin answers questions about deposit protection, payments and investments, including questions asked in connection with Sberbank Europe AG, Sberbank Direct and VTB Bank (Europe) SE. BaFin will update the FAQs as necessary.
Consumers can also contact BaFin’s consumer helpline if they have questions. Freephone: 0800 2 100 500. If you are calling from abroad, the consumer helpline can be reached on +49 228 299 70 29.
