Credit Ombudsman

The Credit Ombudsman mediates between bank customers and credit institutions and provides clarification and information on matters of credit.

The purpose of mediation is to encourage communication between the parties – the bank customer and the credit institution – with the aim of reaching an agreement, thus overcoming deadlocks or lack of agreement in the credit relationship.

The Credit Ombudsman operates within the Banco de Portugal but is exercises their functions independently.

Bank customers who cannot conclude or renegotiate credit may request mediation with the credit institution.

Who can request mediation?

Any bank customer (e.g. individuals, sole proprietors, commercial companies, non-profit organisations) may request mediation.

Are there any associated costs?

No, the services provided by the Credit Ombudsman to bank customers are free of charge.

Mediation can be requested for what issues?

Obtaining credit.
Renegotiating credit.
Consolidating credit.
Other situations within the scope of the credit relationship.

How can mediation be requested?

To request mediation/intervention of the Credit Ombudsman, the bank customer must send:

a written request for mediation, where the costumer provides their identification, describes their request and specifies the credit institution concerned;

copies of their correspondence with the credit institution – e.g. letter(s), fax(es) or emails – that attest to previous attempts to contact and negotiate/correct the matter;
copies of other documents that may contribute to clarifying and forming the basis of the customer’s request (for example, copies of the credit extracts or credit agreements).

To request the Credit Ombudsman’s mediation/intervention, use the draft proposal available at the respective website and submit the request through their contact details.

How does the mediation process work?

Within five working days of receiving the request, the Credit Ombudsman communicates to the bank customer (hereinafter referred to as the applicant) the decision to accept or reject the request.

If the request for mediation/intervention is accepted:

the process is sent to the credit institution concerned;
the credit institution examines the request and, within a maximum period of five working days of the date of receipt of the request, relays its decision to the Credit Ombudsman, confirming or revising the previous decision;
the Credit Ombudsman contacts the applicant, informing them of how the process is progressing. The process is complete if:
- the credit institution agrees to revise its decision and the applicant expresses their agreement;
- the Credit Ombudsman verifies whether the impossibility of an agreement being reached between the credit institution and the applicant is substantiated.

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