How to Report Unresponsive Banks and E-Wallets to the Bangko Sentral ng Pilipinas (BSP)

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) via the BSP Consumer Assistance Mechanism, accessible through various channels. 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.

The Legal Framework Behind BSP-CAM

Since 2023, this process has actually been formalized by law. Republic Act No. 11765, or the Financial Products and Services Consumer Protection Act, requires every bank and e-wallet the BSP supervises to run its own first-level complaints desk, called the Financial Consumer Protection Assistance Mechanism (FCPAM).

You’re required to go through your bank or e-wallet’s FCPAM first. Only if that doesn’t resolve your concern should you escalate to the BSP Consumer Assistance Mechanism (BSP-CAM).

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:

1. Contact the manager or the appropriate officer of the BSFI. Mention your concerns and lodge a formal complaint with the BSFI.
2. 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.
3. If your concerns remain unresolved despite lodging a complaint with the BSFI, you can file a complaint against the BSFI with the BSP Consumer Assistance Mechanism through the BSP Online Buddy (BOB) chatbot accessible at BSP’s official website and Facebook Messenger, or through the BSP mobile app.
4. You may also file a complaint via email; or visit the BSP’s Consumer Assistance Desk at the Ground Floor, BSP HUB (Near BSP Gate 6), Bangko Sentral ng Pilipinas, Roxas Boulevard Service Road, Malate, Manila; or in the nearest BSP regional office or branch, during office hours.
5. 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.
6. 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.
7. 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.

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

BSP-CAM is meant as a second-level recourse when your BSFI is unable to address your concerns or complaints regarding their product or service. As a second-level recourse, BSP-CAM only takes cognizance of complaints that already underwent the BSFI’s complaints resolution process.

How to File a Complaint with the BSP

There are several ways to file a complaint with the BSP regarding an unresponsive BSFI: chat, email, telephone, postal mail, or via walk-in assistance.

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 Email

The BOB Chatbot is the preferable BSP-CAM channel as it can automatically refer a complaint to BSFIs on the same day of filing. The BOB Chatbot also automatically assigns a BSPCMS Reference Number as proof that a complaint against a BSFI has been filed.

Complaints filed via email and the other channels of BSP-CAM typically undergo longer and manual processing times.

All complaints filed via email to [email protected] are required to use the CIR Form which may be accessed on the BSP website.

Via Telephone

For questions on how to file a complaint through BSP-CAM channels, or clarifications about the BSP’s complaints resolution process, or requests for information on a previously-filed complaint, you may call the BSP-CAM hotline at: (02) 5306-2584.

Via Postal Mail

The BSP accepts complaints via postal mail. Send your complaint to the following address:

Consumer Protection and Market Conduct Office
10th Floor Multi-Storey Building, BSP Complex
A. Mabini Street Malate, 1004 Manila

Remember to attach a completely accomplished CIR Form to support your complaint.

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 [email protected].

Frequently Asked Questions