The hereby submitted article deals with the Financial Arbiter (Ombudsman) and the payment systemsregulation in the Czech Republic. The article focuses mainly on the proceeding before the Czech FinancialArbiter. However, the author also deals with the Financial Ombudsmen in Europe, especially those who arethe members of FIN-NET (the Cross-Border Out-of-Court Complaints Network for Financial Services).The legal regulation this work describes covers up (between others) the Payment Systems Act and theAct on the Financial Arbiter, both effective from 1 January 2003. These acts were adopted by the CzechParliament under the harmonization of the Czech law with the European Community law standards, e.g.with the European Community Directive No. 97/5/EC, on cross-boarder transfers, which requires the possibilityfor consumers to settle disputes in an efficient and appropriate manner with transfer institutionsthrough out-of-court procedures.