Disputing a bank charge or following up on a rejected insurance claim can be exhausting. You contact customer service, submit documents, wait for replies, and sometimes nothing seems to move. When repeated attempts to resolve an issue directly with a bank or insurer go nowhere, it helps to know what escalation options are available.

Bank Negara Malaysia (BNM), as the regulator of financial institutions in Malaysia, oversees how banks and insurers treat their customers. However, it’s not always the first or most appropriate place to turn. Knowing when to escalate, and where, can save time and improve your chances of getting a clear outcome.

Start With Your Bank Or Insurer

Before going to BNM or any external body, you’ll need to give your bank or insurer a chance to resolve the issue internally. Banks and insurers regulated by BNM are required to publish their complaints process, usually on their website under sections such as “Complaints” or “Customer Care”, or in policy documents for insurers. 

Submit your complaint in writing. Email is sufficient and creates a paper trail. Keep copies of all correspondence, including dates, reference numbers, and the names of staff you deal with. For straightforward cases, a response is generally expected within 14 calendar days.

If you receive a response stating that it is the bank or insurer’s “final decision”, or if there is no response within the required timeframe, you may escalate the issue. Once a final decision is issued, you typically have six months to take further action.

BNM Or FMOS: Which Should You Approach?

In Malaysia, financial complaints can be escalated through two different channels, each serving a different purpose.

The Financial Markets Ombudsman Service (FMOS) handles disputes involving financial loss where compensation is sought, up to RM250,000. This includes rejected insurance claims, unauthorised transactions, and disputed fees. FMOS offers free mediation and can issue decisions that are binding on banks and insurers, although you are not required to accept the outcome if you disagree.

BNMLINK  is Bank Negara Malaysia’s public complaints platform. It is used when the issue relates to service quality or concerns about whether a bank or insurer has complied with BNM rules, rather than a dispute over compensation.

BNM looks into complaints involving providers it regulates, including commercial banks (both conventional and Islamic), insurers and takaful operators, licensed e-money issuers, development financial institutions, and money service businesses. Through BNMLINK, complaints are reviewed to see if institutions are following BNM requirements, such as where there are concerns about how charges are applied, how financing is administered, or how insurance or takaful claims are handled in line with BNM requirements.

If you’re disputing a RM5,000 billing error and want the money refunded, FMOS is usually the more appropriate avenue. If you believe a bank is engaging in practices that may contravene BNM rules, such as applying undisclosed fees across its customer base, BNMLINK is better suited to address the issue.

Unlike FMOS, BNM does not issue binding compensation awards, as its role is regulatory rather than compensatory.

BNM does not handle complaints involving cooperatives, credit companies, pawnbrokers, or unlicensed money lenders, which fall under other authorities. It also does not intervene in cases already before the courts, anonymous complaints, or matters involving fraud or scams, which should be reported to the police.

How To Submit A Complaint To BNMLINK

The most convenient way to file a complaint is through BNMLINK’s online eLINK form. You can also contact BNM by phone at 1-300-88-5465 during office hours (9am to 5pm, Monday to Friday), or use BNM’s live chat service.

If you prefer to visit a BNM office in person, you’ll need to make an appointment in advance, as walk-ins are not accepted. Appointments can be arranged through eLINK or by phone. BNM has offices in Kuala Lumpur, Penang, Johor Bahru, Kuching, Kota Kinabalu, and Kuala Terengganu.

Before submitting your complaint, gather all relevant documents. This usually includes your original complaint to the bank or insurer, its final response (or evidence that no response was given), relevant account statements or policy documents, a copy of your IC, and supporting materials such as emails, screenshots, or receipts. If the complaint involves a credit reporting issue, including a CTOS or CCRIS report can help.

What Happens After You Submit?

Once your complaint is received, BNM will acknowledge it and issue a reference number. For complaints within BNM’s scope, the matter is raised with the bank or insurer, which is typically given up to 14 working days to respond.

Resolution timelines vary. Straightforward cases may be resolved within a few weeks, while more complex matters can take longer.

From April 2026, new complaint-handling requirements will take effect. Banks and insurers will be required to acknowledge complaints within one business day and provide decisions within five days for simple cases, or 20 days for more complex ones.

If You’re Still Unable To Resolve The Issue

If neither BNMLINK nor FMOS leads to a satisfactory outcome, legal avenues remain. The Consumer Tribunal can hear claims of up to RM50,000 without requiring legal representation. For larger claims, civil court proceedings may be necessary.

If the issue relates to debt rather than a dispute, AKPK (Agensi Kaunseling dan Pengurusan Kredit) offers free financial counselling and assistance with repayment restructuring. While it is not a complaints body, it may be useful where financial difficulty is part of the wider picture.

Key Contacts

BNMLINK (Bank Negara Malaysia)
For regulatory complaints, service quality issues, and potential breaches by banks and insurers. 

Channel	Details
Online form	bnmlink.bnm.gov.my
Phone	1-300-88-5465
Live chat	bnm.gov.my/livechat
Hours	9am–5pm, Monday to Friday

Financial Markets Ombudsman Service (FMOS)
For financial disputes up to RM250,000 where compensation is sought. 

Channel	Details
Online	fmos.org.my
Phone	03-2272 2811
Address	No. 4, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
Hours	8.30am–5.30pm, Monday to Friday

AKPK
For free debt counselling and repayment assistance

Channel	Details
Online	akpk.org.my
Phone	03-2616 7766

Keeping clear records, including dates, reference numbers, and correspondence, can make a meaningful difference throughout the process.

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