Information about the distance contract

Information about the service provider

Yettel Bank ad Belgrade
Address: Omladinskih brigada 88, Belgrade
Identity number 17138669
PIB 100000049
Activity: 6419 – Other monetary intermediation
Joint-stock company entered in the register of companies at the Agency for Business Registers, with a work permit issued by Decision of the National Bank of Yugoslavia no. 346 of April 25, 1996. years

Information about the distance contract

Information on the distance contracting procedure

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).

A permanent data carrier, in the sense of the Law on the Protection of Users of Financial Services, means a device 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 the conclusion of 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 (acquired) 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 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.

Duration of the distance contract

The contract on issuing and using a credit card and using a credit limit is concluded for a period of 36 months.

Method of payment and fulfillment of obligations

According to the revolving model, the minimum monthly obligation, arising from the disposition of the funds of the credit limit, amounts to at least 5% (minimum 1000 dinars) of the used funds. The minimum monthly obligation includes repayment of interest, fees, and part of the principal due. Interest and fees are due in full, so the minimum monthly obligation can be higher than 5% of the funds used, depending on the amount of interest and fees due. The revolving model implies the payment of a minimum monthly obligation, while the rest of the outstanding obligations are rolled over (transferred) to the next accounting period. The due date of the obligations is the last day of the month, but the User can settle his due obligations by the 15th of the month without calculating interest. Every month, the user provides funds in the amount of due obligations on his current account. Through a standing order, the Bank transfers funds from the User’s current account in the amount of all due obligations, in favor of the credit limit party.

Information on the User's right to withdraw from a distance contract

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 brigade 88 – Customer Care Service or to the Bank’s e-mail address – 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.

Information on the cancellation of the long-distance contract before its expiration date

The user has the right to cancel the Agreement, as well as to unilaterally terminate the Agreement through the agreed communication channels, without compensation and at any moment before the expiration of its term, with a notice period of one month. The user can exercise this right, only after the previous settlement of obligations, which he has under the contract with the Bank. Upon termination of the Agreement, the validity of the basic card as well as the additional Card(s) ceases.

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 and 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, e-mail address, or mobile phone number of the User provided to the Bank during the establishment of business cooperation, i.e. to the address, e-mail 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.

The termination of the Agreement takes effect after two months from the date of receipt of the notification by the User.

Information on how to resolve disputes

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.

The objection can be submitted via:

  • internet or mobile applications, the Bank’s website,
  • e-mail address:,
  • 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 via the website 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. The parties in a disputed relationship may decide that the mediation procedure be conducted before another authority 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.

Applicable law and jurisdiction of the court for resolving disputes:

  • 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.