Voluntary, out-of-court procedures for resolving disputes have proven themselves in practice many times over.
The ombudsman of the ombuds office for financial service providers is neutral. He can provide competent information and act as an independent mediator in disputes.
Expensive, time-consuming legal proceedings, which often take years, can thus be avoided.The ombudsman is not a state court. Rather, he promotes dialogue between the parties. Instead of a judgement, he mediates a negotiated solution for the parties in dispute. This is not binding, and the parties are free to decide whether to follow the ombudsman’s suggestion or take other, e.g. legal, steps. However, experience has shown that negotiated solutions of the Ombudsman are generally accepted thanks to his professional competence.
The conciliation procedure with the ombudsman of the ombuds office for financial service providers is free of charge for financial customers. However, the examination of written enquiries by financial clients that may lead to a conciliation procedure is CHF 150 (maximum CHF 250 for complex enquiries).
The Ombudsman treats inquiries confidentially. He only consults with the financial service provider if the customer agrees to this.