How To Make A Complaint Against A Financial Institution

Got beef with a bank or insurance company that can't be resolved? Don't sit around and sulk, get off your behind and make a complaint to these departments!

Unhappy with a bank or other financial institution?

Want to file a complaint against a financial institution but don't know how?

First of all, you should know that you absolutely have the right to lodge a complaint if you are not satisfied or cannot come to a mutual understanding with banks and insurance companies regulated by Bank Negara Malaysia ( BNM). For example:

Mr. Wang discovered in his latest current account statement that there was a cash out of RM5,000 via cheque numbered 23456. Upon checking his cheque book, he found a few cheques missing and one of them was this exact cheque. After an investigation by the police, it was found that his signature was forged and that the culprit produced a fake identity card with a fake MyKad number when cashing out at the bank, but the bank refuses to return Mr.Wang's money.

Shouldn't the bank officer have noticed this and called Mr. Wang to verify the transaction? - Here is a situation that can be disputed!

Let us take this opportunity to protect your right as a consumer, so you don't get the run-around.

What do I need to do before I can file a complaint?

Identify your problem first before you make a complaint to your institution. If you think the financial institution has been unfair or misleading, discriminated against you, or violated any company policy, you may file your complaint against them. Don't forget to keep a copy for yourself!

Attempt to settle your problem with the institution

The first step you must attempt is to resolve your problems directly with the institution - try to talk and discuss with the person-in-charge or department.

If you feel that your complaint has not been resolved fully or in a satisfactory manner, you can proceed to make a formal complaint to the Complaint Unit of your institution via email or fax. The Complaint unit is a department established by each institution to handle all complaints and feedback brought forward by customers.

They will take about two weeks to investigate further and review your complaint. If they anticipate that your complaint would take longer than two weeks to be resolved, a representative will update you on the progress accordingly. No matter how small the problem, your institution should be responsible to solve it.

Still not happy? Refer your complaint to the FMB

Not to worry! You can still defend your rights with the Financial Mediation Bureau (FMB). FMB is an independent organisation that mediates disputes between the public and financial institutions. 

Prepare the final decision letter from your institution and submit the letter to FMB within 6 months of the date it was issued to you.

Once you have submitted your documentation, the FMB will review your complaint and may meet with you or together with your institution and will make a decision on your case after looking at the law, industry rules and practices of the issues at hand.

Their services are completely free, but bear in mind that there is a limit to the amount that you can claim:

ClaimClaim Limit
Banking/Financial complaintRM100,000 (excluding fraud cases relating to payment services, credit cards, charge cards, ATM cards, and cheques for which the limit will not exceed RM25,000)
Insurance/Takaful complaintRM200,000 (Motor and Fire Insurance/Takaful)
RM100,000 (Others)
RM5,000 (3rd party property damage)

Alternatively, there's also BNM

Here's another option for you to file your complaint. If your complaint does not fall within in the scope of the FMB, you may refer your complaint directly to Bank Negara Malaysia through BNMLINK and BNMTELELINK. These departments represent BNM's important points of contact to facilitate prompt and efficient response to members of the public on matters related to the financial sector.

BNMTELELINK can be reached via mail, e-mail, fax or phone. In addition to this, you can also visit the BNMLINK if you wish to discuss your problems in person as they also provide face to face services to walk-in customers.

FMB and BNM weren't helpful. What do I do now?

If you are not satisfied with the decisions of FMB or BNM, you may seek legal advice on taking legal action to resolve your problem.


Agree or disagree with this post? Questions? You also have your word!


    thank you for guidance given.. would like to have further details on how to resolve matters when bank has not fully reimbursed the developer who have already wound up , yet I'm still servicing the the out standing amount from the bank to developer
    any info given is deeply appreciated..thank you in advance

    • RinggitPlus

      HI Nagalingam,

      We're not quite clear what your issue is.. If you owe the bank or developer, it makes sense to pay them, but if the bank owes the developer or vice versa, that shouldn't affect your finances.
      We hope this helps!


      thank you for your issue we purchased a single storey landed property in 2004. the initial 10% was paid by us,for the balance 90% a loan was secured by then EON BANK ( now HLB )in October 2004. we took vacant possession in 2010/2011 ( late delivery ).
      We intend to refinance the house with Public bank (better rate).On 6th Sept. 2016 received news from Public Bank stating HLB cannot issue letter of release, as their account shows the bank (HLB) owes DEVELOPER RM 2,997.50/= from 2004 until Oct. 2016.
      When we contacted HLB and inquired why the payment was not made, their answer was simple... developer didn't request for it.
      We are paying UNnecessary interest for RM 2,779.50 which is still in HLB possession. As a layman my understanding is poor.

      Anybody out there, got any other solution or inputs regarding the above issue please do reply , any help given is deeply appreciated

      • RinggitPlus

        Hi Nagalingam

        This situation looks quite complicated and is really way over our scope of expertise. We're just a finance blog after all.
        Perhaps if it makes sense to, you can seek legal counsel for this? Otherwise there's not much we can help you with on this part.

      • Chandran

        Hi there, I am a loan borrower with Hong Leong Islamic Bank Berhad. On early October, when I decided to settle the outstanding amount, I approached the nearest branch for the immediate settlement amount.They told me only the HQ(HONG LEONG BANK HEAD OFFICE) is authorised to disclose such information and so I called the mortgage centre. Instead I was attended by a customer service officer (not from the mortgage unit).She listened to my issue and advised the estimated amount.
        I reconfirmed whether the amount is applicable for payment,she agreed and added that any differences arise shall be accounted for. I proceed and issued a cheque which after a couple of days was rejected by bank due to incorrect amount. I shared the conversation had with the customer service to them.The branch also unable to provide the actual figure.Then I was called by the customer service task manager and she assured that the issue could be resolved after discussion with the bank's management. That was on 28/10/16. To my great displeasure the matter was left "abandoned" by those responsible allies.Even after
        repeated follow up calls were made but no respond at all. Kindly advise the next course of action.Thank you.

        • RinggitPlus

          Hi Chandran,

          Have you followed the advice in the article to escalate the matter to BNM?
          Try doing that, and if it still doesn't work out, you may have to seek legal counsel which is way outside of our scope of expertise.
          We hope this helps!

        • Keyser Soze

          Hi Admin of RinggitPlus,

          Thanks for the informative article. Appreciate if you can advise whether we can report any complaint about banks in Malaysia to Tribunal Tuntutan Pengguna?

          Thanks in advance .

          • RinggitPlus

            Hi Keyser Soze,

            You're welcome! We do try our best.

            As for your question, according to their official website ( ) the Tribunal cannot help a dispute if there are already other existing bodies meant to do the job.
            In this case, there are BNM and FMB (now known as OFS) who you should go with instead.

            We hope this helps!

          • Rita G Tan

            Hi Ringgit Plus;
            I am in a predicament. I had invested in Mutual Trust through a financial consultant over 10 years whereby she gained my trust and patronage. In the 10th year, when I reached 55 (my consultant knew I could take out my EPF money for investments) she advised me to invest in the futures market. In 2013 I gave her a cheque for RM100,000 in the name of the futures company based in KL. The cheque was cleared and deposited into their unsegregated account and later transfered into one of their client's account as an initial margin deposit. I believe, this client intercepted my cheque, deposited it into the futures company's account and claimed it as his own. Within days, he lost some of "my money" in his own transactions and subsequently cleared the full amount, closed his client account with the futures company and has since disappeared. I brought this matter up with the futures company in 2016 ( as I was always told by the consultant that it takes 2 -3 years to see any returns - she has since disappeared), with Securities Commission & with SIDREC. What solution do I have? Can I meet with someone to help me with this issue - I have all the documents pertaining to this matter. I believe someone of authority in the futures company would have given the "okay" to put my "RM100,000 into the client's account for trading purposes. I have very little knowledge of financial markets. This may have something to do with compliance & fraud - how can my cheque be intercepted, how can it go into someone's account, why didn't they even check before allowing the money to go into someone's account. A simple call to my bank would have revealed whose cheque it is. Your kind advice is appreciated.

            • RinggitPlus

              Hi Rita G Tan,

              This situation sounds quite involved and may be a bit out of our depth.
              Have you tried contacting the bodies we recommend in this article? If they are of no help, it might mean you have to take legal action.
              We hope this helps

            • Sib

              hello ringgit plus

              i previously had a loan with AEON for motorcycle purchase and clear up the debt on the 10th of August 2017. The issue i am facing currently is until today, AEON still failed to provide me with the official letter to release of ownership to me though their staff already explain it would take a week to process before the letter could be issued out from their HQ in peninsular.

              Up until today, AEON still failed to give me the above-mentioned letter so i can proceed with transferring the ownership to others. May i know which relevant authorities i can refer to? In my opinion, AEON even other bank institutions do not have the rights to hold me from taking full ownership of a property which a customer already paid in full.

              Thank you in advance taking time to help, appreciate it very much.


              • RinggitPlus

                Hi Sib,

                It sounds like you need to prod them often to give you what they owe. If this persists for an unreasonably long time, then you can make a formal complaint and follow the steps we've shown in this article.
                Good luck!

              • Vashe

                Hi Ringgit Plus,
                I encountered problem with PBB where I had missed 1 month house loan and I found out once the letter was sent. It was stated in the letter that if I don't settle within the specific time the BLR will be 0. I immediately went and settled the outstanding with all the interest. I called the customer service and asked is my BLR still the same or has it gone to 0. The officer informed there is no change. After 1 year, I received the outstanding statement with my BLR 1 year ago. I went and lodged a complaint to the branch and they seem to ignore my complaint. I have been following up and after 6 months another officer took my complaint. Its now been another year and they came up by agreeing to adjust only 50% of the interest paid. The case has been delayed for many years. The bank knows the fact that the BLR was not changed upon my payment made but they are not adjusting the additional interest charged. Can you please advise on the next action that I can take.

                • RinggitPlus

                  Hi, Vashe.

                  Without knowing the entire context of your question, it is hard for us give a clear and definitive advice. However, if you have any complaint against a financial institution, you need to bring the complaint to Bank Negara since it is within their jurisdiction.

                  Thanks for the question and we hope this help.

                • Steven

                  Hi ringgit plus,
                  Recently maybank have detuct a amount about RM1600 at my account. After I check with them, they said they double credit my salary from my company to me. Although it's not my money but is that they got the rights to detuct any money that's not my spending, withdrawal and online or phone banking without any notification to me?

                  • RinggitPlus

                    Hi, Steven

                    This situation is a little complicated for us to provide you with a straight answer. There are certain situations where the bank can perform these procedures without notifying you, mostly under your company's request. So, it will be in your interest to contact the bank for a better understanding of the situation.

                    Thanks for the question and we hope this help.

                  • Jiv

                    Hi ringgit Plus,
                    I was wondering your views on a matter I have. Today i opened a savings account with Maybank, I was forced into signing an insurance policy with Etiqa - an insurance company owned by Maybank. I was told that i would not be allowed to open an account unless i signed the insurance plan. i was wondering if this was legal or can I file a complaint?

                    I was told that i could only cancel it after 3 months. which means i would have to pay RM 63 just to have an account with Mayabnk. (3 x 21)

                    • RinggitPlus

                      Greetings, Jiv.

                      It is a little hard for us to give a definitive advice as we do not know the context of the situation. Perhaps, you could contact us via email ([email protected]) or phone (03 7890 0808) and provide the context (i.e.: Did you sign up for the account during a promotion). From there, we could then provide a suitable answer to your problem.

                      Thanks for the question and we hope this help.

                    • Jephta

                      I wish yo lodge a complain against Jerry capital Malaysia . They told me to travel to Malaysia for disbursement of s loan I got from Bahrain group limited. Now that I am here they are hiding from me, please help me out.

                      • RinggitPlus

                        Hi, Jephta

                        We are sorry to hear about your situation. What we suggest is to bring to this to Bank Negara Malaysia since they are the authoritative body on this matter.

                        Thanks for the question and we hope this helps.