Rights of Basic Financial Service Users
1. The Right to Receive Accurate Information (Right to be Informed)
When using services, you are entitled to receive adequate, accurate, and complete information to make informed decisions. For instance, understanding the differences between hire-purchase products and auto-title loans is essential. This includes assessing the potential benefits and risks associated with each product type, along with the rights and obligations stipulated in the contract.
Additionally, key details that aid in decision-making, such as interest rates, discounts, service fees, and penalties for non-compliance with specified conditions, should be clearly provided. Customers can seek further information or clarification from financial institutions through various channels, such as consulting staff, checking notices displayed at the headquarters or branches, and visiting the company's website.
2. The Right to Freely Choose Services (Right to Choose)
You have the right to select financial services that genuinely meet your needs. You are free to make choices, such as deciding whether to purchase insurance or not, based on your preferences and requirements.
3. The Right to File Complaints for Fair Treatment (Right to be Heard)
If you believe the company has treated you unfairly or improperly, such as providing incomplete information, you should promptly report the issue to the company's complaint handling department or other relevant authorities for resolution. The company will inform you of the outcome in a timely manner.
You can also contact the Financial Consumer Protection Center (FCC), Bank of Thailand, for financial problem consultation or to file complaints by calling 1213 or using other available complaint channels.
4. The Right to Seek Compensation for Damages (Right to Redress)
If you suffer damages from using a service, and it is proven or verified that the error resulted from the company’s fault or the intentional or negligent actions of staff, you are entitled to receive compensation for those damages. The company will inform you of the outcome of the process and the steps taken to evaluate and address the compensation claim.
However, if the investigation reveals that the mistake was due to your own actions, the company will not be able to compensate for the damages.
In addition to these four fundamental rights, there are other rights you should be aware of, such as:
Rights of Individuals Listed in the Credit Bureau
When you receive loans or credit cards from banks, credit card companies, hire-purchase/leasing companies, or financial institutions that are members of the Credit Bureau, your information—such as name, address (excluding phone number), ID card number, repayment history, loan or credit card details, etc.—is collected and stored at the Credit Bureau as mandated by law. This record includes both on-time payment history and overdue payment history, reflecting actual occurrences. As the data subject (legally referred to as the "data owner"), you have the following rights under the law:
Rights Related to Information Disclosure
The Credit Bureau may disclose your information only under the following circumstances:
When you authorize the Credit Bureau to disclose it to a company. In practice, you will sign a consent form for information disclosure along with your loan application.
When permitted or required by law, such as disclosures mandated by court orders, investigators, the Ministry of Finance, the Bank of Thailand, etc. In some cases, after your information has been disclosed, the Credit Bureau is required to notify you within thirty days of the disclosure.
Right to Know What Information the Credit Bureau Holds About You
As the legal data owner, you can request to view and verify the accuracy of your information. If any stored information is found to be incorrect, you have the right to contest and request corrections to reflect the actual facts, such as incorrect name, surname, date of birth, or repayment history. For example, if you have proof of repayment but the records are inaccurate, you can request corrections directly with the Credit Bureau or the company involved.
The Right to Request the Credit Bureau to Record Disputes Regarding Inaccurate Information in Credit or Credit Card Accounts with Unresolved Issues with Financial Institutions
Once a dispute has been recorded, you have the right to appeal the dispute to the Credit Data Protection Committee at the Bank of Thailand for a final decision on the accuracy of the information. This must be done within 60 days from the date the dispute was recorded.
If a company denies you a loan or credit card based on your credit information, the company must issue a formal rejection letter.
This letter enables you to check your credit information with the credit bureau free of charge, allowing you to understand the reasons or identify any details in your credit history that the company has cited as the basis for rejecting your loan application.
The Right to Proper Treatment During Debt Collection
If you are a customer of a company under the supervision of the Bank of Thailand, even if you are a delinquent debtor, you are entitled to proper treatment. Examples include:
- Companies may contact you for debt collection only during specified hours: Monday to Friday from 8:00 AM to 8:00 PM, and on public holidays from 8:00 AM to 6:00 PM.
- Debt collection must be conducted using courteous methods and language, with the collector identifying themselves when initiating contact.
- Debt collection must not involve or be directed at individuals other than the debtor (unless consent has been granted by the debtor or it is legally permissible).