MAKING A COMPLAINT - Best Credit Card Comparisons

All banks, retail associations and trust companies, loan and insurance companies under federal jurisdiction must, under law, to establish a procedure for handling complaints in the interests of consumers.

If you have a problem or wish to lodge a complaint against a financial institution federally regulated, there is a way, forward here are the steps.

• STEP 1: LOCAL LEVEL

As a first step, you should try to solve the problem by dealing with the manager or the representative of the customer service of your financial institution. At this stage, you deal with the staff of the branch or the local representative.

• STEP 2: UPPER LEVEL OR OMBUDSMAN INSTITUTION

If your complaint can not be resolved by the branch or local level, it could be referred to a higher level or to the ombudsman institution.

• STEP 3: CONSIDERATION BY A THIRD PARTY

In most cases, if the complaint can not be resolved to your satisfaction, you can ask to be examined by a third party. It is a non-binding service available to any individual or small business wishing to pay a claim.

PROVINCIAL REGULATORS

In some cases, depending on the financial institution you are dealing with, you can also contact the regulator in your province.

RAC

The role of the RAC is particular to ensure that financial institutions establish a procedure for handling complaints. If you're struggling to learn about the procedure for processing complaints of your institution or if you have experienced problems using this procedure, please contact me. However, remember that the FCAC does not provide any remedy or compensation, and that I can not intervene in the resolution of conflicts that arise.