Have a complaint with your bank? One agency will now handle them all

Canadians with a banking ailment tin present nonstop that ailment to conscionable 1 place.

And it’s a alteration the complaints assemblage taking connected that work hopes volition assistance volition beryllium a “big improvement” for consumers.

Up until Friday, the Ombudsman for Banking Services and Investments (OBSI) was 1 of 2 outer bodies that complaints would spell to. But pursuing a determination by the national authorities past year, the OBSI was chosen arsenic the sole complaints assemblage for each banking issues.

“It’s a simpler approach,” Sarah Bradley, ombudsperson and CEO of the OBSI, told Global News. “So everybody has a wide knowing of wherever to crook if things are not moving retired for them successful their quality with a slope oregon a fiscal services firm.”

Bradley said this alteration volition beryllium a boost erstwhile it comes to trying to tackle fraud, with the OBSI seeing a “significant increase” successful banking ailment cases successful the past fewer years. The OBSI’s yearly study for 2023 reported banking complaints related to fraud had much than quadrupled from 2022, reaching 950 cases compared with conscionable 215.

With the changes Friday, each of Canada’s banks volition autumn nether the OBSI, including RBC, Scotiabank, TD Bank, National Bank and Tangerine.

The alteration was made past year, but did not spell into effect until Nov. 1 to hole for a imaginable emergence successful complaints with the OBSI being the sole body, the bureau said.

Bradley told The Canadian Press the bureau has much than doubled its unit from 2022.

The bureau notes it has seen a emergence successful wide inquiries compared with erstwhile years, with much than 17,000 seen successful 2023 — up 63 per cent from past twelvemonth — and much than 3,000 cases being opened arsenic a result.

Having the complaints successful 1 spot tin assistance not lone streamline complaints but besides let officials to observe trends erstwhile it comes to banking complaints, including fraud.

However, earlier Canadians commencement filing a ailment with the OBSI, Bradley told Global News if they person an contented they should archetypal spell to their slope to spot if it tin assistance them first.

Banks person 56 days to woody with a complaint, whereas the OBSI is required to implicit its probe and marque a proposal wrong 120 days.

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“We look astatine what the slope has provided and look astatine their responses,” she said. “Then our relation is truly to marque definite that the slope has done what it should person done, has complied with its laws, has complied with the regulations and its nationalist obligations, and has fundamentally treated the user fairly. We’re besides going to consider, though, whether the user has complied with the presumption of their agreements.”

Consumers, according to the OBSI, would not beryllium considered liable for the nonaccomplishment if:

• All tenable precautions were taken to support your idiosyncratic accusation confidential, yet idiosyncratic inactive initiated a transaction you didn’t authorize.
• Any nonaccomplishment of cards oregon disclosures of idiosyncratic accusation was reported to the steadfast — specified arsenic your slope — arsenic soon arsenic possible.
• The firm’s exertion oregon information measures failed, starring to the fraud.
• The steadfast had crushed to fishy that you mightiness beryllium exposed to fraud but did not act.

“We’re present autarkic of the slope and autarkic of the user to marque definite the just outcomes are achieved,” Bradley added.

However, portion the complaints process is simplified, consumers whitethorn inactive not spot a emergence successful their complaints being approved. Out of the conscionable nether 2,000 made to the OBSI that the enactment made a proposal connected past year, astir 68 per cent were denied.

Of the cases wherever OBSI recommended compensation, the mean was $2,573, portion wide it recommended $2.7 cardinal to beryllium paid to consumers.

— with files from Global News’ Tomasia DaSilva and The Canadian Press