Do you know that you can report banks and e-wallets that are not responding to your concerns to the Bangko Sentral ng Pilipinas (BSP)? Thanks to the BSP Consumer Assistance Mechanism (BSP CAM), you can file a complaint against an erring or unresponsive bank or mobile wallet to expedite the resolution of your issues and concerns with the said institution.
Online banking and mobile wallet apps are fast gaining popularity among many Filipinos who prefer their ease and convenience in contrast with over-the-counter banking and traditional money remittance services. That said, the increase in online banking transactions has also resulted in a rising number of complaints from customers. Some customers have complained about their money not arriving at the intended destination, while others are concerned about delays and failures in processing transactions.
In most cases, these issues and concerns can be resolved by calling or emailing the bank or e-wallet in question. However, there are times when the bank or e-wallet doesn’t respond to your queries or is uncooperative and unhelpful regarding your concerns. That can be quite frustrating especially if the transaction involves a hefty sum of money that you can’t afford to lose.
Fortunately, there’s a way to make a bank respond to your concerns in case they never answered or took too long to reply. What you can do is to report the erring bank or e-wallet to the Bangko Sentral ng Pilipinas (BSP) by email, chat, telephone and postal mail. The BSP will then send a copy of your complaint to the bank with a request to address your concern within a specified timeframe.
All banks and mobile wallets in the Philippines are supervised and regulated by the BSP and are considered as BSP-Supervised Financial Institutions (BSFI). BSFIs include banks, non-banks with quasi-banking functions, pawnshops, e-money issuers, remittance agents, foreign exchange dealers, money changers, money service businesses and virtual currency exchanges.
When to File a Complaint with the BSP
Filing a complaint with the BSP is the most effective way to pressure a bank, e-wallet or financial institution to reply and attend to your concerns. For example, if GCash has not been answering to your complaint about your failed transaction, you can report them to the BSP, who in turn will tell GCash to respond to your complaint within the period of time given by the BSP.
According to the BSP, you should only file a complaint against a BSP-Supervised Financial Institution (BSFI) if your concerns are unresolved after lodging a formal complaint with the BSFI. The following are the steps involved when reporting a BSFI to the BSP:
- Contact the manager or the appropriate officer of the BSFI. Mention your concerns and lodge a formal complaint with the BSFI.
- Put your complaint in writing so that the BSFI management can attend to your concern in a timely manner. Include your name, date and signature in your written complaint. Keep a copy of your complaint for reference.
- If your concerns remain unresolved despite lodging a complaint with the BSFI, you can file a complaint with the BSP via email, postal mail, fax, telephone or chat. You can also visit the BSP Manila office or a BSP regional office.
- Upon receipt of your complaint, the BSP will contact you by phone or in writing for any additional information or actions to take.
- The BSP will send a copy of your complaint to the BSFI management, along with a request to address your concerns within the given timeframe.
- The BSFI should directly contact you by phone or in writing regarding your concerns. A copy must be furnished to the BSP clarifying their actions.
- If you’re still unsatisfied with the response or action of the BSFI, give your feedback to the BSP so that they can assist you further.
The total processing time is 10 banking days upon receipt of your complaint with the complete supporting documents.
Take note that the BSP will not handle the following complaints:
- Disputes over policies and procedures of BSFIs, such as administrative policies and labor issues, that don’t violate BSP regulations or banking laws
- Matters involving institutions not supervised by the BSP, such as cooperatives, insurance companies, lending investors and microfinance non-government organizations (NGOs). BSP will forward these complaints to the relevant government agencies and regulators
- Cases currently pending with any court or quasi-judicial body
How to File a Complaint with the BSP
There are several ways to file a complaint with the BSP regarding an unresponsive bank: chat, SMS, email, telephone, fax and postal mail.
Via Chatbot on the BSP Facebook Page
With the BSP Online Buddy (BOB) chatbot, you can easily and conveniently report an unresponsive bank or e-wallet. BOB is a bilingual chatbot (English and Tagalog) that allows you to file a complaint with the BSP on their Facebook page.
To file a complaint with the BSP through the BOB chatbot, just go to the BSP Facebook page and click “Send Message.” Click “Get Started” and select “New Complaint.” From there, answer the questions and describe your complaint in one or two sentences including the name and branch of the institution involved. You will also have to provide your personal information such as full name, home address, phone number and email address.
After BOB receives and confirms your complaint, you will be assigned a unique Case Reference Number. Use this number to keep track of the status of your complaint across all BSP consumer assistance channels (chat, email, telephone, fax and postal mail).
Via Chatbot on the BSP Website
The Bangko Sentral ng Pilipinas website also has a chatbot where you can ask for help with your complaints. The BSP website chatbot works just like the Facebook chatbot, wherein you can submit a complaint and you will be given a Case Reference Number to keep track of your complaint anytime.
To start using the BOB chatbot, just visit the BSP website on your web browser and click the chat icon on the lower-right corner. Click “Start Chat” and then select “New Complaint.” After that, write your complaint in one or two sentences and provide your personal details such as name, address, phone number and email.
Use the website chatbot if you don’t have a Facebook account or if you’re not comfortable with using Facebook Messenger to communicate with the BSP.
Via Text Message
The BSP also accepts complaints via text message. To file a complaint via SMS, send the details of your concern to 21582277.
At the moment, the Talk-to-BSP SMS service is only available to Globe subscribers. Data and SMS charges may apply.
Via Email
Aside from the BOB chatbot, you can email your complaint to the BSP. Email is preferable to other consumer assistance channels if you have documents to support your complaint, which will greatly increase the chances of a successful resolution.
You can file a complaint via email by submitting a duly accomplished Complaints, Inquiries and Requests (CIR) Form which you can download here. After filling out the CIR Form, attach it to your email and send it to consumeraffairs@bsp.gov.ph. If you have documents to support your complaint, you can attach them to your email as well.
You can also use the CIR Form to make follow-ups or to report subsequent issues on the complaints you filed against a BSFI.
If you can’t or don’t want to use the CIR Form, you may write an email to consumeraffairs@bsp.gov.ph and include the following:
- Copy of the complaint received by the BSFI, along with the BSFI’s reply, if any
- Copies of documents that support your complaint (optional)
- Typed or printed summary of your complaint with:
- Declaration stating that you don’t have access to BOB, or that you prefer submitting your complaint via email
- Description of your concern
- The resolution you are requesting (e.g. “I would like to request a refund”)
- Telephone/mobile number and email address
Please don’t include any confidential information that are not necessary for the BSP to evaluate your complaint, such as account numbers, passwords or PIN.
Via Telephone and Fax
You may also file a complaint with the BSP through telephone and fax. These are the BSP consumer assistance hotlines that you may call:
- Direct Line: (02) 5306-2584, (02) 8708-7087
- Trunk Line: (02) 8708-7701 local 2584
- Fax: (02) 8708-7088
The BSP consumer assistance hotlines are available from 9:00 AM to 4:00 PM, Monday to Friday excluding holidays.
Via Postal Mail
The BSP accepts complaints via postal mail. Send your complaint to the following address:
Consumer Empowerment Group
Center for Learning and Inclusion Advocacy
Bangko Sentral ng Pilipinas
5th Floor, Multi-Storey Building, BSP Complex,
A. Mabini Street, Malate,
1004 Manila, Philippines
Remember to include the following in your complaint:
- Typed or printed summary of your complaint with:
- Declaration stating that you don’t have access to BOB, or that you prefer submitting your complaint via mail
- Description of your concern
- The resolution you are requesting (e.g. “I would like to request a refund”)
- Telephone or mobile number where you can be reached during the day
- Email address
- Copy of the complaint received by the BSFI, along with the BSFI’s reply, if any
- Copies of documents that support your complaint (optional)
You can also use the CIR Form to file a complaint via postal mail. Download the form, print it and fill out the required information, and then send it to the aforementioned address along with any supporting documents.
Next Steps After Filing the Complaint
After filing your complaint, wait for the phone call and/or email from the BSFI regarding your concern. For email communications, the bank or e-wallet will have to furnish a copy of the email to consumeraffairs@bsp.gov.ph.
If you’re not satisfied with the BSFI’s handling of your concerns or if you’re still not getting a successful resolution of your case, you may send your feedback to the BSP Consumer Assistance desk by emailing consumeraffairs@bsp.gov.ph or by calling (02) 8708-7087. Don’t forget to include or mention your Case Reference Number.
