The President of the Office of Competition and Consumer Protection (UOKiK) has imposed fines totalling PLN 147.09 million on Bank Pocztowy, Erste Bank Polska, ING Bank Śląski and Plus Bank for unfair contract clauses. The office announced the decisions on Monday, 12 October; they are not final.
According to UOKiK, the challenged provisions allowed the banks to change the terms of concluded contracts unilaterally and to raise existing fees and commissions or introduce new ones. They concerned, among other things, bank accounts, payment and credit cards, loans and credit, including mortgages (as reported by PAP Biznes on Bankier.pl).
How much each bank will pay
Each of the four banks received two fines: one separately for the clauses on changing contract terms and one separately for those on fees and commissions. The total amounts are as follows:
- Erste Bank Polska – PLN 80.68 million,
- ING Bank Śląski – PLN 63.25 million,
- Bank Pocztowy – PLN 2.71 million,
- Plus Bank – PLN 453 thousand.
In total, that comes to PLN 147.09 million. The decisions are not final, and the banks may appeal to the Court of Competition and Consumer Protection (SOKiK).
What the problem was
Modification clauses set out when and to what extent a bank may change a contract that has already been signed. According to UOKiK President Tomasz Chróstny, the rules for such changes must be described clearly and precisely, and the consumer should know what may trigger them, what they may concern and how far they can go. A unilateral change of terms cannot depend solely on the bank’s decision, the head of the office stressed, according to the announcement.
The office also pointed to the mechanism for raising fees. According to the announcement, one of the clauses allowed fees and commissions to be increased by as much as 200 percent, among other triggers after inflation rose by 0.30 percentage points or average wages rose by 1 percent. UOKiK found that such small changes in these indicators did not justify unilaterally changing a contract with a consumer, and that the mechanism allowed the bank to raise fees almost every month.
What it means for customers
Because the decisions are not final, they do not for now settle any changes to contracts or any refunds; the available information does not indicate that the office has ordered the banks to compensate customers. The decisions affect customers of the four banks who hold accounts, cards, loans or credit covered by the disputed templates. If a bank informs customers of a change in fees or contract terms, the customer has the right to read the justification and check on what basis in the contract or terms and conditions the change was introduced. The further course of the case depends on whether the banks challenge the decisions in court. As of publication, no statements from the banks on the matter had been found.
On the stock exchange on Monday around midday, shares of Erste Bank Polska and ING Bank Śląski were rising (by about 3.3 percent and 2.3 percent respectively, according to Bankier.pl), in line with gains across the broader market.
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