How to file a complaint with an external complaints body or an independent complaint-handling organization
If you have an issue with your financial institution, you can file a complaint by using its complaint-handling process.
Learn more about how to file a complaint with your financial institution.
What is an external complaints body and an independent complaint-handling organization
External complaints bodies (ECBs) and independent complaint-handling organizations are independent from your financial institution. They provide a free and impartial review of your complaint about a financial product or service. You can involve them when your bank (including federal credit unions and authorized foreign banks) or trust and loan company couldn’t resolve your complaint to your satisfaction. The ECB can recommend a resolution for your complaint.
A bank must be a member of the Ombudsman for Banking Services and Investments (OBSI).
Federally regulated trust and loan companies must be a member of an independent complaint-handling organization.
If your complaint is about an insurance provider, you can follow its complaint-handling process to resolve it.
Learn more about how to file a complaint about your insurance provider.
How to escalate a complaint with your bank to an external complaints body
You can ask OBSI to review your complaint against a bank if:
- your complaint is not resolved to your satisfaction after following the steps of your bank’s complaint-handling process, or
- 56 days have passed since your bank received your complaint
How to escalate a complaint with your trust and loan company to an independent complaint-handling organization
You can escalate a complaint with your trust and loan company to an independent complaint-handling organization if:
- your complaint is not resolved to your satisfaction after following the steps in the company’s complaint-handling process, or
- 90 days have passed since your complaint was escalated to the second level of their process
The second level of the complaint-handling process is usually the step after the local branch level.
Types of complaints an external complaints body or an independent complaint-handling organization can review
Complaints must fall within the ECB’s or the independent complaint-handling organization’s terms of reference. These define how they operate and the types of services they provide. You can usually find a copy of their terms of reference on their websites. Contact them for more information.
Learn more about your rights when dealing with an external complaints body.
Change of external complaints body or independent complaint-handling organization
Banks, foreign banks and federal credit unions are required to be a member of OBSI. OBSI is designated as the single ECB for handling banking related complaints. This means that they cannot change to another ECB.
On the other hand, trust and loan companies have the right to change the ECB or the independent complaint-handling organization it is a member of. If they do so, the previous ECB or independent complaint-handling organization must transfer existing complaints to the new one.
This includes all information related to the complaints. The new ECB or independent organization must inform you without delay once your file has been transferred to them.
These organizations must follow Canadian privacy laws when they transfer your file.
Learn more about federal privacy laws on the Office of the Privacy Commissioner of Canada website.
If you’ve already taken legal action
You may have already taken legal action regarding your complaint. An ECB or an independent complaint-handling organization is not part of the court system. Generally, it won’t investigate a complaint if you filed a court action for the same problem. You may want to contact your financial institution’s ECB or independent complaint-handling organization for more information.
How to file a complaint against an external complaints body or an independent complaint-handling organization
You may have a problem with an ECB or an independent complaint-handling organization. If you’re in that situation, try to resolve the issue directly with them.
If you can’t resolve your complaint with them, you may want to consult a legal professional for other options.
Related links
Page details
- Date modified: