Complaints - Law of 10 November 2009 on payment services

Professionals of the financial sector, such as banks, payment institutions, e-money institutions or Post Luxembourg (Services Financiers Postaux) in Luxembourg which are entitled under national law to provide payment services (together "payment service providers", "PSPs"), as well as electronic money issuers, such as banks, electronic money institutions or Post Luxembourg (Services Financiers Postaux) which are entitled under national law to issue electronic money (together "electronic money issuers", EMIs) must comply with the legal requirements under the Luxembourg Law of 10 November 2009 on payment services ("Law of 2009 on payment services").


According to article 106 (2) of the Law of 2009 on payment services, the Commission de Surveillance du Secteur Financier (CSSF) is the designated competent authority to handle complaints about alleged infringements of provisions in Title II, Chapter 4 (in substance: obligations in relation to the issuance and redeemability of electronic money) and in Titles III (Transparency of conditions and information requirements for payment services) to IV (Rights and obligations in relation to the provision and use of payment services) of the Law of 2009 on payment services by those PSPs and EMIs (in order to ensure and monitor effective compliance with the Directive (EU) 2015/2366 on Payment Services in the Internal Market ("PSD2")).

 

Our procedure


According to Article 106 (2) of the Law of 2009 on payment services, users of payment services, electronic money holders and other interested parties, including consumer associations, can submit complaints to the CSSF about an alleged infringement of the above-mentioned provisions of the Law of 2009 on payment services by PSPs and EMIs (including branches and agents set up in Luxembourg by PSPs or EMIs with a home Member State that is not Luxembourg) or by persons benefiting from a waiver under Article 48 or Article 48-1 of the Law of 2009 on payment services. The CSSF also allows payment service providers that are affected by the situation that gave rise to a complaint about an alleged infringement of provisions of the Law of 2009 on payment services to submit a claim.


The CSSF will acknowledge receipt of the information that you submit and use this information to assist its supervisory work, e.g. start an investigation procedure (pursuant to the supervisory means at the disposal of the CSSF) against the PSP or EMI supervised by the CSSF. Please note that, in general, the CSSF will not inform you of the specific outcome of its supervisory investigations because it is acting in its function as supervisory authority.

 
Please be informed that the CSSF may notably ask the PSP or EMI concerned by a complaint about an alleged infringement of the provisions of the Law of 2009 on payment services to redress the detected irregularities or infringements. In order to ensure and monitor effective compliance with the Law of 2009 on payment services, the CSSF may use its supervisory and investigatory powers, its power of injunction and suspension, and may impose sanctions, if necessary.


How to submit information


You should provide the following information when submitting to the CSSF a complaint about an alleged infringement of the provisions of the Law of 2009 on payment services:

 

• Your name and contact details;
• Whether you are an individual user of payment services, or, for example, a business, such as another PSP or EMI;
• The name of the PSP(s) or EMI (s) concerned by your complaint;
• A description of the (alleged) infringement of provisions of the Law of 2009 on payment services;
• Any supporting materials, such as contracts or correspondence with the PSP or EMI.


We may contact you if we require further information.


For submitting your complaint please use the complaint form below and follow the instructions that are specified therein.

 

Form

 

Your complaint may be sent by post to:

 

Commission de Surveillance du Secteur Financier
Département Juridique CC
283, route d’Arlon
L-2991 Luxembourg


Or by fax to:
(+352) 26 25 1 – 2601

 

You may also send your complaint by email to: PSDbreach@cssf.lu.

 

Your complaint about a PSP or EMI that you suspect not to meet legal requirements under the Law of 2009 on payment services will be treated separately from individual disputes that customers may have against a professional of the financial sector that is subject to the supervision of the CSSF. Those individual disputes are treated within the framework of the out-of-court resolution procedure of the CSSF (customer complaints).