National Bank of Georgia - 85% of 2024 consumer disputes resolved in favour of citizens

The National Bank of Georgia on Tuesday said its Dispute Resolution Commission had reviewed about 90 disputes between consumers and payment service providers, including banks, throughout 2024, resolving 85 percent of them in favour of citizens.

The majority of complaints arose from unauthorised payment transactions, where consumers reported charges on their accounts that they did not consent to. In light of the Commission’s interventions, payment service providers have compensated consumers ₾300,000 ($106,018).

The Commission serves as a “free, fast and efficient” mechanism for addressing consumer grievances, the NBG said. Operating as an independent body, its primary objective is to protect the rights of payment service users, ensuring fair treatment and bolstering trust in digital payment systems, the Bank added.

The establishment of the Commission is also in line with the Association Agreement between Georgia and the European Union, signed in 2014.

Consumers facing issues such as unauthorised transactions, delayed execution of payment transactions, or incorrect deductions can file complaints with the Commission.