Information about the distance contract

The contract and all related future annexes can be concluded in written form by means of remote communication on a permanent data carrier in the form of an electronic document with the use of a qualified electronic signature.

A means of remote communication, in the sense of the Law on the Protection of Users of Remote Financial Services, means any means that can be used for direct advertising, providing information in the pre-contractual phase, making and/or accepting an offer, negotiating and concluding a contract without a simultaneous physical presence service provider and user (eg internet, e-mail, post, fax and telephone).

Under the permanent data carrier, in the sense of the Law on the Protection of Users of Financial Services, is meant a tool that enables the User to save data related to him, to access that data or to reproduce it in an unchanged form for a period that corresponds to the purpose of storage.

If the value of the Contract does not exceed 600,000.00 dinars, the User can conclude it without using his qualified electronic signature, if he has given his consent to conclude the contract by using at least two elements to confirm the user’s identity (authentication) or by using electronic identification schemes with a high level of reliability .

Two elements to verify user identity:
in the case of an electronic banking application, the two factors are the username and password (using which the client authenticates to the internet application) and the mobile phone on which the user receives an OTP (one-time password).
in the case of a mobile banking application, the two factors are the PIN code (which authenticates the client to the application on the device) and the device itself.
The technical prerequisites for concluding the Agreement include appropriate equipment (computer, telephone, etc.) as well as the existence of an Internet connection, which must be provided by the user. Provision of the aforementioned prerequisites and equipment may cause certain costs to the User (according to third parties), if he has not already provided (obtained) them.

The Bank enabled the User to familiarize himself with the contents of the Offer, the Draft Contract with mandatory elements and the Bank’s General Terms and Conditions in the pre-contractual phase, before accepting the approved terms of the loan product.
After familiarizing himself with the contents of the Offer, the Draft Agreement with the mandatory elements of the agreement and the General Terms and Conditions, the User accepts the offer and the approved conditions, i.e. concluding the Agreement remotely, via the Internet or a mobile application.

Through the Internet or mobile application, the Bank provides all information and appropriate clarifications on the conditions related to the credit product and submits the Agreement with accompanying documentation.
The contract is concluded in the Serbian language, in which communication between the Bank and the User will be conducted during the duration of the contractual relationship.

The agreement on the permitted overdraft on the current account of a natural person is concluded for a period of 12 months.

The Bank makes available to the User the approved amount of the permitted overdraft for a period of 12 months, counting from the day of activation of the permitted overdraft on the current account.
The user can use the allowed overdraft on the current account for spending in RSD in the event that the user does not have a positive balance of dinar funds in their current account, regardless of the available amount of funds that the user has in the account in currencies other than RSD. In the case of spending in foreign currency, funds from the allowed overdraft will be used if the User does not have available foreign currency funds or a positive balance of dinar funds, in which case the conversion will be made at the Bank’s sales rate for foreign exchange valid on the day the current account is debited.

The user is obliged to repay the Bank all used funds for the allowed overdraft together with accrued interest and fees on the day of expiry of the approved overdraft, i.e. after the end of the availability period. The Bank debits the User’s current account for the calculated interest amounts on the last day of each month for the previous month, without special notice and without the User’s prior consent.

The Bank collects all due claims based on the Agreement by debiting any account the User has with the Bank. In case of collection of overdue receivables from the User’s foreign currency assets, the Bank will apply the Bank’s purchase rate for the currency on the day the Account is debited for the calculation.

The user has the right to withdraw from the Agreement within 14 days from the date of conclusion, without giving reasons for withdrawal. The User is obliged to notify the Bank of this intention in writing, in a way that confirms the receipt of the notice of withdrawal, whereby the date of receipt of such notice is considered the date of withdrawal from the Agreement. The user can send the cancellation notice to the Bank by registered mail with return receipt to the address of the Bank’s headquarters – Yettel Bank ad Beograd, ul. Omladinskih brigada 88 – Customer Care Service or to the Bank’s e-mail address – banka@yettelbank.rs. If the User withdraws from the Loan Agreement, he is obliged to immediately, and no later than within 30 days from the date of sending the notification to the Bank, return the principal amount and interest for the duration of the loan, as well as reimburse the Bank for the actual costs incurred by the Bank in connection with the conclusion of the Agreement . If the User does not exercise the right to cancel the Agreement in accordance with the above, the Agreement remains in force and all rights and obligations from the Agreement apply to the contracting parties.

The User has the right to cancel this Agreement, as well as to unilaterally terminate the Agreement through the agreed communication channels, without compensation and at any time before the expiration of its term. The user can exercise this right, only after the previous settlement of obligations, which he has under the contract with the Bank.

If one or more of the conditions provided for in the Agreement for unilateral termination of the Agreement are met, the Bank has the right to cancel the Agreement and declare all obligations due, as well as to demand their payment. The Bank sends the statement of termination of this Agreement to the User in written form or on a permanent data carrier to the address, email address, or mobile phone number of the User provided to the Bank during the establishment of business cooperation, or to the address, email address, or phone number of which the User subsequently informed the Bank. On the day of receipt of the declaration of termination, the Agreement is considered terminated and on the day of termination of this Agreement, all outstanding obligations of the User are due for collection and in that case the Bank collects all its claims.

User’s right to object:

The User has the right to submit a complaint in writing if he believes that the Bank does not comply with the provisions of regulations governing payment and/or financial services, General Business Terms, good business practices or obligations from the concluded Agreement.
The user has the right to complain within 3 years from the day when his rights or interests were violated. The bank does not charge for handling complaints.

Objections can be submitted via:

• internet or mobile applications
• the Bank’s website,
• e-mail address: ompravori.banka@yettelbank.rs,
• by mail to the address: Omladinskih brigada 88, 11070 Novi Beograd or
• in person at the Bank’s business premises.

The Bank will carefully consider the allegations from the received complaint and send the User an answer no later than 15 days from the date of receipt of the complaint. The Bank may extend the deadline for submitting the answer by an additional 15 days, which it will inform the User about.

If the User is not satisfied with the Bank’s response, he has the right to file a complaint with the National Bank of Serbia at the address: Nemanjina 17, Belgrade or PO Box 712, Belgrade or through the Internet presentation of the National Bank of Serbia or to request a settlement of the dispute through mediation before the National Bank of Serbia or another body or a person authorized to mediate. The mediation procedure is carried out by employees of the National Bank of Serbia – mediators who are appointed by the decision of an authorized body in the Republic of Serbia, that is, who have a mediator’s license and are on the list of mediators, and it is free of charge for the parties to the procedure. Parties in a disputed relationship may decide that the mediation procedure be conducted before another body competent for mediation.

The agreement of the parties reached in the mediation procedure before the National Bank of Serbia has the force of an enforceable document under the conditions stipulated by law.

• The provisions of the Law on the Protection of Users of Financial Services, the Law on the Protection of Users of Financial Services in Distance Contracting, the Law on Obligations and other valid regulations of the Republic of Serbia, as well as the General the Bank’s business conditions.
• The Bank and the User will try to resolve all possible disputes arising from the contractual relationship amicably. If any disputes are not resolved amicably, they will be resolved by the competent court in whose territory the defendant has his domicile or residence.