Retail customer agreement terms and conditions

The law aims to give you as a customer better consumer protection, prevent debt problems, regulate more services and unite regulations into one law.

The new law gives you better rights and we are changing the terms and conditions so that this is included in the agreements.

The new law applies to both new and existing agreements. This does not mean that existing agreements must be concluded again, but some rules in the new law may take precedence over contractual provisions if these are not in accordance with the law.

Current agreements are still valid. This means that your agreements with DNB or the financial company still apply, but that the agreements and conditions may be updated. You will be notified of such changes.

The Financial Contracts Act implements “digital first choice”. This means that the bank or financial institution can use electronic communication when they send you messages about your customer account. Customers who do not want to have electronic communication can opt out of having messages and notifications sent electronically by contacting the bank.

The customer can also manage their own consents and reservations under settings in the online bank. If you have already agreed on the use of electronic communication, the communication will continue as before. This means that the bank will normally communicate with you in online banking or the mobile banking app.

You may also be notified, for example by text message, that you have received a notification. If you have opted out of electronic communication, it will continue as before.

You can find more information about this in the Account Agreement, general terms and conditions for deposits and payment services in Section 2 and Account Agreement Consumer Terms and Conditions, Main Document A in Section 5.

No, you do not need to sign new contracts in order for new rules to apply.

When the bank sends you notice of a change of agreement – for example a notice of a change in interest rate – you accept the change with so-called passive consent. So you do not need to do anything.

Yes, there will be no change when using your cards, and you also do not need to order new ones.

The new law gives you the right to reject notified changes, such as changes in interest rates or fees. This rule applies from 1.7.2023. If you disagree with a notified change, you can terminate the agreement at any time – such as the loan.

It is important to note that if you send in a formal rejection, as the law allows, DNB can terminate the agreement. If, for example, you reject an interest rate increase on a home mortgage, and DNB goes for termination, you must settle the entire home mortgage within a short period of time.

If you don’t manage it, it can lead to additional costs and problems for you and any co-borrower and reallocation manager.

If you have any questions about a notice of an interest rate change or other change to the agreement, we recommend that you contact us on 915 04800.

Yes, there is no change to how the consumer loan works.

In the case of credit agreements, DNB is obliged to give customers some explanations before an agreement is entered into/signed. This is in addition to any other information given.

The information includes:

• the most important features of the credit agreement offered
• the significance of any terms and conditions for additional services
• consequences of default.
  

The explanations may be given in different formats depending on how and where the agreement is entered into. This can happen both verbally and in writing, including digitally.

No, the cooling-off period only applies to home mortgages and secured guarantee for home mortgages.

DNB is not obliged to provide any reason for why a credit application has been rejected.

Or will signature be binding?

The signature is binding, and you are giving up the rest of the cooling-off period if you sign before 7 days have passed.

Read more about complaints

We will respond to you in writing, in clear language, as soon as possible. If we have not responded to you within 15 working days after we have received your complaint, we will send you a preliminary response with information on the reason for the failure to respond and when you will receive a final response from us.

In exceptional cases, which are beyond our control, it may take 35 days before you receive a reply from us. Please note that this does not apply to complaints related to industry. 

If you believe a payment transaction has not been approved by you, you can file a claim with us. The complaint is made through our established complaints process.

We will normally return the amount to you before the end of the next working day. Even if the amount has been returned quickly, this does not mean that your claim has been completed. We will contact you when the case is processed, if you are responsible for all or part of the amount.