Warning: Major Fraud Revealed by Alpha Bank on a Customer – See What Happened

Alpha Bank faced a large fine as fraud was revealed.

The Ministry of Development has issued a statement informing that it has been fined 25,000 euros for illegally charging a mortgage borrower.

Specifically, after examining a relevant complaint at the General Directorate of Market and Consumer Protection of the General Secretariat of Commerce, it was found that a specific borrower was charged with the costs of examining a loan request.

“The condition of charging an expense, in order for the bank to examine a loan request, is considered abusive based on article 2 par. 6 of Law 2251/1994 in conjunction with Ministerial Decision Z1-798/2008 and in violation thereof, as non-transparent” , the ministry reports.

And he concludes: “This procedure does not adequately explain the way in which the costs of the credit institution arise, creating confusion for the borrower as to what it ultimately covers.”

Alpha Bank’s response

A few hours later, Alpha Bank issued a statement about the fine, saying that the decision concerns the costs of a mortgage loan that the customer received in 2012 – the complaint was filed in January 2021.

It then analyzes the situation and what happened with the particular borrower.

“the complainant, according to standard practice, received written pre-contract information where, among other things, he was explicitly informed of the amount he was required to pay in one go and without expressing the slightest reservation proceeded to sign the contract.

The relevant charges (expenses) are in accordance with the legislation and the relevant instructions of the Bank of Greece which have been sent and adopted by all the banks.

Specifically, according to Act of the Governor of the Central Bank 178/2004, as follows:

“3. a) The one-off expenses, the expenses for third parties as well as the fees for special services collected by the credit institutions when granting loans and credits (which also include the withdrawal of cash via credit cards), are formed not in a proportional way, but are set at a fixed, case-by-case, amount justified by the nature and type of service provided”

Further in no. 53/16.1.2003 letter from the Bank of Greece (Con. 1), regarding the provision of clarifications regarding PD/TE 2501/2002, it is stated that the cases of fees, costs and expenses in favor of third parties of chapter F that may be transferred to the borrower of PD/TE 2501/2002, constitute charges that cover special operating costs, are paid once and are specified according to the reason and their reasonable amount. In said letter, it is expressly stated that these charges also include the costs of examining a loan request and loan pre-approval.

Attention: Emergency announcement from Alpha Bank to customers for 2024

What Alpha Bank announced in January 2024. All the news at xristika.gr.

Alpha Bank achieved an important distinction at the National Customer Service Awards. She managed to get awards for two of her products. Specifically for new digital products bizpay App and myAlpha Vibe, but also for the digital services myAlpha Rendezvous & myAlpha Documents.

As it states, it is the only financial institution that was awarded for the service it offers to its customers.

The National Customer Service Awards were organized for the 14th consecutive year by the Hellenic Institute of Customer Service (EIEP), which rewards excellent service practices in the Greek market and highlights service protagonists.

In detail what she achieved ALPHA BANK:

-Distinction Award in the category “Innovation in Customer Experience” for the new innovative product myAlpha Vibe, which connects parents and teenagers, enabling parents to give their children pocket money from My Alpha mobile easily and securely.

– Distinction Award in the category “Best Mobile App in User Experience” for the new 100% digital solution bizpay App, which allows businesses to issue prepaid cards to their employees and partners to pay corporate expenses, while giving them the ability to send the documents through the application.

– Distinction Award in the category “Best Combination of Customer Service Channels” for the myAlpha Rendezvous & myAlpha Documents services, which allow the Customer to make an appointment with a Bank representative in a store or speak with him via video call or by phone and digitally register the necessary documents requested from him, from any point he wishes.

Banks are “closing” in Greece: Announcement from National Bank, Alpha bank, Piraeus

The new banking model includes the restructuring of branches and bank branch services. In fact, the big banks of Greece, National Bank, Alpha Bank, Piraeus, Eurobank have made announcements about the changes they are making.

The responsibility for this change is not only the new conditions and the progress of technology, but also the movements of the past, eg capital controls.

Of course, in addition to the changes that are planned, we have already seen several changes in the bank branches of Greek banks, with their reduction being noticeable. Specifically, the number of bank branches decreased from 4,100 in 2009 to 1,500 today, while the staff shrank to around 29,000 workers from 64,500 in 2009.

In addition, in addition to their number, the queues that we once observed have also greatly reduced, now appointments are necessary, while minimal transactions are processed at the cash desks, which in some banks only operate a few hours a day. The majority of banking transactions are already done through alternative, electronic networks, mobile and online banking, while the first ones have also made their appearance exclusively online stores.

This transformation in banking is due, according to business insider, to:

1. Capital Controls.
2. Pandemic. Prolonged quarantines and the drastic curtailment of bank branch operations gave a further boost to online transactions.
3. Digital revolution. The basis for the transformation of banks was, of course, the digital revolution and the huge development of mobile and web banking, through which anyone can quickly and economically handle almost all banking tasks from their home, office or hotel.

Banks follow a model that aspires to combine the advantages offered by digital transformation with personal service. Stores that existed primarily to serve customers’ cash transactions are now places where employees have turned into customer advisors and provide better services, with benefits for customers and higher profit margins for the banks themselves.

The rise of e-banking recorded in recent years, with users reaching the 4.5 millionhas significantly reduced the movement in banks’ coffers, with the result that the coffers now constitute less than 5% of transactions.

The network of ATM has been upgraded, expanding the points where bank customers can carry out cash transactions and be served, while the interconnection of all banks’ ATMs has also fallen on the table.