Dealing with your bank’s external complaints body: your rights

Learn what the external complaints body (ECB) does when it reviews a complaint. Find out when you can ask the ECB for an independent review. Understand your rights if you have a complaint about an external complaints body.

The Financial Consumer Agency of Canada (FCAC) oversees the external complaints body (ECB).

The ECB is an external organisation that reviews customer complaints about banking services and products. FCAC supervises its compliance with legislative requirements and monitors whether it operates in a fair, independent and effective manner.

Understanding what the external complaints body can do

The external complaints body (ECB) reviews customer complaints about banking services and products.

An ECB is independent from:

• banks
• authorized foreign banks
• federal credit unions

Ombudsman for Banking Services and Investments

The external complaints body for banks is the Ombudsman for Banking Services and Investments (OBSI). As an ECB, OBSI offers a free and impartial review of complaints as part of a bank’s complaint-handling process.

All banks and federal credit unions must be members of OBSI. OBSI is an external and independent organization.

You may contact OBSI on the earlier of these dates: 

• when it’s been more than 56 calendar days since you first filed the complaint with your bank, or 
• when your bank provided a detailed written response and closed your file

It can recommend a resolution for your complaint.

Dealing with the external complaints body

When you escalate your complaint to OBSI, you have certain rights. OBSI must inform you of your rights and responsibilities within the complaint process. It must also offer you assistance in making your complaint.

Cost, language and fairness

OBSI must:

• offer its services to you free of charge in English or French
• make sure anyone who works on your complaint (or acts on OBSI’s behalf) is:
  • impartial
  • independent from both you and the bank

Terms of reference

OBSI’s terms of reference outline their mandate and describe how they operate and the services they offer.

OBSI must:

• tell you about its terms of reference
• give you information and assistance to understand them

Complaints must fall within OBSI’s terms of reference. If your complaint is not within its terms of reference, OBSI must advise you in writing within 30 calendar days. 

Final recommendation

OBSI must give you and the bank a final written recommendation within 120 calendar days. OBSI must also post a summary of its recommendation on its website within 90 calendar days. You may contact OBSI to understand how they can help you.

Contact the Ombudsman for Banking Services and Investments.