Principal regulatory

Principal regulatory and legal remedies available to customers


In the event of a dispute between a customer and the bank, the customer can send a complaint to the bank. Complaints are handled in accordance with applicable rules of procedure of the bank. A complaint can be submitted by various means, e.g. e-mail, letter, telephone or a meeting. Complaints can also be submitted electronically through the bank's website.

The Complaints Committee on Transactions with Financial Firms

Customers can refer their dispute to the Complaints Committee on Transactions with Financial Firms:

The Complaints Committee on Transactions with Financial Firms
Guðrúnartúni 1,
105 Reykjavik,
Tel: +354 578 6500


In order to request a decision from the Committee a special form needs to be completed, which can be accessed on the website Further information on the Committee, the appeals fee, information on who can turn to the Committee, etc. is available on the The Complaints Committee on Transactions with Financial Firms‘s website,

The Financial Supervisory Authority's Consumer Service

The Financial Supervisory Authority operates an information and guidance service for customers of parties subject to supervision. For further information on the Financial Supervisory Authority's Consumer Service, see

The Consumer Agency

The Consumer Agency is a government agency which is entrusted with the enforcement of various acts of law relating to consumer protection. The Consumer Agency's website includes information on the circumstances and manner in which consumers can approach the Agency for assistance if they believe their rights have been violated. See

Data Protection

Data subjects can contact the Bank‘s Data Protection Officer with regard to all issues related to processing of their personal data and to the exercise of their rights under the Act on Data Protection and the Processing of Personal Data by sending an e-mail message to


The Icelandic Data Protection Authority monitors and enforces the application of the Act on Data Protection and the Processing of Personal Data and handles complaints lodged by a data subject, see

Courts of Law

Parties can refer their disputes to the courts of law given that the dispute has not been exempted from the jurisdiction of courts of law by laws or contracts.

The Depositors' and Investors' Guarantee Fund

Reference is made to the Depositors' and Investors' Guarantee Fund, which operates in accordance with Act No. 98/1999 on Deposit Guarantees and an Investor-Compensation Scheme. The objective of the act is to guarantee a minimum level of protection to depositors in commercial banks and savings banks, and to customers of companies engaging in securities trading pursuant to law, in the event of difficulties of a given company in meeting its obligations to its customers according to the provisions of the Act. See further the applicable legislation and further information on the Fund, disbursements etc. at