The Competition Promotion and Consumer Protection Committee imposed a fine on AVO Bank for misleading advertising, the committee’s press service reported.

The investigation was prompted by a complaint received by the committee. It concerned phrases used on the bank's website such as "250,000 UZS for every new client," "250,000 UZS for you and every new AVO client," and "receive 250,000 UZS into your account."

In reality, these were not sums of money in cash or non-cash form, but bonus points in the AVO Bank application. Moreover, to receive them, clients had to fulfill a number of conditions.

During the investigation, the committee found that one bonus point in AVO Bank equals 1 UZS, and clients can choose to exchange bonuses for money or use them to pay for banking services. However, the bank does not provide the option to transfer the money directly to the client's account.

Additionally, the committee discovered several other violations in the neobank's advertising. In particular, the agency noted claims about a "zero rate" on AVO Platinum credit cards — clients were promised that if they spent 2 million UZS, they would only need to repay 2 million UZS.

However, the public offer for using the AVO Platinum credit card states that the interest-free period for purchases on the card is only 45 days. Starting from the 46th day after the purchase, interest is charged according to the established procedure.

The Competition Committee recognized AVO Bank's actions as violating Article 16 of the "Advertising Law" and Article 6 of the "Consumer Protection Law." The neobank was fined financially.