Economy July 5, 2022 | 3:40 pm

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Customer complaints force banks to refund RD$224.5 MM

Santo Domingo, DR.

Between August 17, 2020, and June 30, 2022, the Superintendence of Banks (SB), through the Office of User Services and Protection (ProUsuario), ordered the accreditation of RD$173.14 million to users who filed claims associated with its products of financial intermediation entities.

This amount reflects a drastic increase compared to the previous period since it is equivalent to 3.7 times the value ordered to be credited between August 2018 and June 2020 (RD $46.9 million).

Additionally, the SB returned RD$ 51.4 million to users for collection practices that did not correspond to the regulations established for the treatment of flexible credits at the beginning of the Covid-19 pandemic. Both items add up to RD $224.5 million in favor of users.

Since the beginning of the current administration, ProUsuario of the Superintendence of Banks has dealt with 7,641 claims. As a result, 74% of the decisions issued have been favorable to users.

This figure also reflects a substantial increase, since previously it stood at 51.8%.
Almost half (44%) of the claims were for unacknowledged consumption. Others were associated with unrecognized or fraudulent transfers (11%) and unrecognized withdrawals (9%).

To a lesser extent, ProUsuario received claims for disagreements related to bank charges, the calculation of interest, and the use of ATMs, among others.

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Paul Tierney
July 6, 2022 9:14 am

It must be noted the banks do as they want. Charging bogus fees in consumer bank accounts is not unheard of. Oh, you did not actualize your account in the last three months so we have to charge you. Ok, your account is closed, come back in three days to collect your funds. The banks make millions by nickel-and-diming customers.