FAQ

Natural Persons

Frequently asked questions concerning CB operations with natural persons:

  1. Which data does a Credit Bureau report contain?

    A Credit Bureau report for natural persons contains:
    • Current liabilities, such as liabilities in respect of extended loans, leasing contracts, current accounts, debit and credit cards, and activated pledges;
    • Potential liabilities, such as data on current account overdrafts, and given guarantees (guarantors) in respect of loans extended to other natural persons, legal entities and entrepreneurs;
    • Irregularities in settling matured liabilities outstanding, including the amount and duration of defaults.
  2. Whose data are included in the ASB Credit Bureau’s system?

    The ASB Credit Bureau’s system includes the data on liabilities towards the service providers having signed the Contract with the ASB in respect of Credit Bureau’s operations. The list of service providers whose receivables have been integrated into the CB system can be seen here. The list of users of Credit Bureau’s reports can be seen here.
  3. Who can withdraw a Credit Bureau Report?

    A Credit Bureau Report can be withdrawn only by an authorized employee of a bank, leasing company or another service provider, after a client applies for a service. Reports can be withdrawn only on the basis of the written consent of the concerned natural person.
  4. Is it possible for natural persons to obtain a CB Report for their own purposes?

    Yes. Natural persons can obtain the so-called Personal Report in order to gain insight into the data held on them by banks and other service providers, for the purpose of filing a potential complaint concerning the accuracy of data, or for other personal purposes. Personal Reports are not used for the assessment of creditworthiness.
  5. Where can natural persons file a request for obtaining the Personal Report?

    A request for issuing a Personal Report can be submitted by natural persons in any bank or at the ASB Credit Bureau, and the Report will be delivered in the way stipulated by themselves (by fax, by e-mail, or by post).

    Moreover, natural persons can withdraw their Personal Reports on the premises of the ASB Credit Bureau, or electronically via the Credit Bureau’s web portal (www.kreditnibiro.com).

    The necessary preconditions for using the services of the Credit Bureau’s web portal are to be found here.
  6. Is there a fee for obtaining a Personal Report?

    The first Personal Report withdrawn by a natural person within a calendar year is free of charge, whereas for the remaining ones a fee is charged according to the standard tariffs for the ASB Credit Bureau’s services.
  7. Are past data available in the Credit Bureau’s reports?

    Yes. The Credit Bureau’s reports for natural persons show both the positive and negative data on active services, as well as the services which have been repaid or terminated in the previous three years.
  8. What is the purpose of reports used by banks and other service providers?

    Banks, leasing companies and other service providers withdraw CB reports on applicants for a loan, lease or some other service. Based on the reports delivered by the ASB Credit Bureau, as well as other available data and documents, the concerned service provider assesses the creditworthiness of the natural person.
  9. What is the definition of natural persons’ irregularity (default) in settling liabilities?

    Based on the by-laws adopted by the ASB Credit Bureau’s founders, irregularity or default in settling liabilities in case of natural persons refers to matured liabilities outstanding for more than 60 days. For instance, default in respect of a loan is recorded when a natural person fails to settle a loan installment due for more than 60 days, counting from the installment maturity date, or when an unauthorized current account overdraft is not settled within the above mentioned deadline, counting from the overdraft occurrence date.
  10. How often do the data on natural persons get updated?

    The data on legal entities and entrepreneurs are updated on a daily basis, which means that all data amendments conducted in banks and other ASB Credit Bureau’s members during the day (new loans, repayment of existing loans, closing of accounts, default settled, etc.) must be updated by the service providers by the end of the same day. The conducted amendments will appear in the Credit Bureau’s reports one day after the concerned data were updated.
  11. Who passes the decision on whether to provide a service or not?

    The decision on providing a service is the exclusive right of the concerned bank or other service provider.
  12. Who is responsible for accuracy of data presented in the Credit Bureau’s reports?

    The accuracy of data presented in the Credit Bureau’s reports is the responsibility of banks, leasing companies and other service providers, the owners of the concerned data, and it is only them who have the possibility and obligation to regularly update and amend those data, if they happen to be incorrect or outdated.
  13. Who has insight into the Credit Bureau’s data?

    The Credit Bureau’s data can only be accessed by the banks or other service providers which entered those data into the Credit Bureau’s system in the first place, and only with written consent from the person the data pertain to.
  14. Who can change the data in a Credit Bureau’s report?

    The data in a Credit Bureau’s report can only be changed by the bank or the service provider which made those data available to the Credit Bureau’s system.
  15. How can natural persons file complaints regarding incorrect or outdated information?

    In the event that incorrect information is entered concerning the obligations of citizens with banks and other service providers, it is possible to file a complaint on the Request for Correction/Amendment, which is obtained when the Personal Report is issued. The Request for the Change of Data is submitted for processing and resolving the complaint to the bank or other member of the Credit Bureau, which the information pertains to. The prescribed maximum deadline for data correction is 15 days, but in practice, these changes are finalised within 1-2 business days, if the request is justified.
  16. What are the obligations of banks and other service providers concerning the process of solving complaints?

    Banks and other service providers are obliged to process and finalize the complaint, subsequently checking whether they have successfully corrected the disputed piece of data in their databases, by withdrawing a Control Report from the ASB Credit Bureau.
  17. What are the rights of natural persons in case the concerned bank or leasing company fails to amend the incorrect piece of data?

    Pursuant to the Law on Financial Services Consumer Protection ("Official Gazette of the RS", no. 36/2011 and 139/2014), natural persons should send a written complaint to the bank or leasing company. If the bank or leasing company respond negatively or fail to respond at all within 15 days, the concerned natural person may address their complaint to the National Bank of Serbia – Centre for Protection and Education of Financial Services Users.

Legal Entities

Frequently asked questions concerning CB operations with legal entities and entrepreneurs:

  1. Which data does a Credit Bureau report for legal entities and entrepreneurs contain?

    A Credit Bureau report for legal entities and entrepreneurs contains:
    • Registration data (name, seat, address, date of establishment, size, activity);
    • Current accounts at the banks;
    • Current liabilities, such as liabilities in respect of loans, credit cards, leasing contracts, activated potential liabilities (guarantees, uncovered letters of credit, guarantees of bills of exchange) and debt securities;
    • Potential liabilities, such as pledges, received guarantees, uncovered letters of credit and guarantees of bills of exchange;
    • Irregularities (defaults) in settling matured liabilities outstanding.
  2. Whose data are included in the ASB Credit Bureau’s system?

    The ASB Credit Bureau’s system includes the data on liabilities towards the service providers having signed the Contract with the ASB in respect of Credit Bureau’s operations. The list of service providers whose receivables have been integrated into the CB system can be seen here. The list of users of Credit Bureau’s reports can be seen here.
  3. Who can be a user of reports for legal entities and entrepreneurs?

    A user of reports can be a service provider (bank, leasing company or another service provider), another legal entity, entrepreneur or natural person, but only on the basis of the previously provided written consent of the concerned legal entity’s representative, or the concerned entrepreneur.
  4. Who can withdraw a report for legal entities and entrepreneurs?

    A report for legal entities or entrepreneurs can be withdrawn only by persons authorized by a service provider which had signed the Contract with the Association of Serbian Banks concerning Credit Bureau’s operations.
  5. Can legal entities or entrepreneurs obtain a report from the Credit Bureau for their own purposes?

    Yes. Legal entities and entrepreneurs can obtain the so-called Own Report for their own purposes, for instance, in order to gain personal insight into the data held about them by banks and other service providers, or for the purpose of potential complaints on data accuracy, or for other purposes. The request for issuing the Own Report can be submitted by legal representatives of legal entities, or by entrepreneurs, in any bank or in the ASB Credit Bureau, and the Report will be issued and delivered in the way stated by the clients themselves (by fax, by e-mail, or by post). The Report can also be collected personally on the premises of the ASB Credit Bureau.
  6. What is considered a default in settling liabilities of legal entities and entrepreneurs?

    In the case of legal entities and entrepreneurs, default is defined as matured liabilities outstanding for more than 15 days, counting from the maturity date of the concerned liability.
  7. Are past data available in the Credit Bureau’s reports?

    Yes. The Credit Bureau’s reports for natural persons and entrepreneurs the data on active services, as well as the services which have been fully repaid or terminated in the previous 5 years.
  8. Who passes the decision about providing a service?

    The decision on providing a service is the exclusive right of the concerned bank or other service provider.
  9. Who is responsible for accuracy of data presented in the Credit Bureau’s reports?

    The accuracy of data presented in the Credit Bureau’s reports is the responsibility of banks, leasing companies and other service providers, the owners of the concerned data, and it is only them who have the possibility and obligation to regularly update and amend those data, if they happen to be incorrect or outdated.
  10. How often do the data on legal entities and entrepreneurs get updated?

    The data on legal entities and entrepreneurs are updated on a daily basis, which means that all data amendments conducted in banks and other ASB Credit Bureau’s members during the day (new loans, repayment of existing loans, closing of accounts, default settled, etc.) must be updated by the service providers by the end of the same day. The conducted amendments will appear in the Credit Bureau’s reports one day after the concerned data were updated.
  11. How to file a complaint regarding incorrect or outdated information?

    In the event that incorrect or outdated information is entered, it is possible to file a complaint on the Request for Correction/Amendment, which is obtained when the Personal Report is issued. The Request for the Change of Data is submitted for processing and resolving the complaint to the bank or other member of the Credit Bureau which the information pertains to. The prescribed maximum deadline for data correction is 15 days, but in practice, these changes are finalised within 1-2 business days, if the request is justified.
  12. What are the rights of legal entities and entrepreneurs in case the concerned bank fails to amend the incorrect piece of data?

    Pursuant to the Decision on Specifying the Manner of Handling Financial Services Consumer Complaints by Financial Services Providers and the National Bank of Serbia ("Official Gazette of the RS", no. 51/2015), legal entities and/or entrepreneurs should send a written complaint to the bank pursuant to the Law on the Protection of Financial Services Consumers ("Official Gazette of the RS", no. 36/2011 and 139/2014). If the bank responds negatively or fails to respond at all within 15 days, the concerned legal entity or entrepreneur may address their complaint to the National Bank of Serbia – Centre for Protection and Education of Financial Services Users.
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