Obsi Reviews 34

OBSI Canada unfortunately dishonest and pathetic in thier investigation. They took 2 months of investigation to find TD bank done nothing wrong in carrying a wire transfer for the sum of $326000 that got lost for over a month.

I have for sure lost faith in the OBSI Canada and have lost any sort of justice in the Canadian system.

Canada used to be a country that I was proud to visit and spend time in it. But unfortunately Canada now is a broken country.

Ps Canada should consider trump offer

I wish I can give 0 star.

I used to believe ombuds were honest and just.

But when I saw ombuds were so smart to judge a RDSP withdrawal from BMO in July 2024 by means of Additional Rules of November 2024, I was deeply shocked!!!!!!

They are either morons or evils.

Their so-called unbiasing is just a joke!

Do not waste your time complaining to these lazy know good people that works for obsi, they getting paid for doing nothing, they are as worst as the banking institution you complaining about, These people are one sided lazy, incompetent people.I pray and Hope soon the government put this business out compliance because it has know use,these bias,lazy and useless worker working for obsi .

OBSI=ZERO rating! They are FAKE LAZY INCOMPETENT USELESS BAD People who do not care at all and they Don’t know anything about the case!! One sided BIASED!I don’t even know why they exist THEY SHOULD NOT GET PAID AT ALL!! They don’t do any of their job! What is “case is closed”!? while their answers are way out of the issues!Can’t even say or explain anything related to the case!!They will change the topic which you are complaining about and it’s so obvious that they don’t know what to say or trying to cover up for the bank or divert the issues!We are not dumb to notice the stup*dity!!Should be ABOLISHED!!NO USE at all!

Waste of time and resources. They don't even make investigations and side with the financial institution regardless of evidence. The people who work there are lazy and incompetent.

Don't waste your time, go directly to small court. They exist to protect banks.

Opened a case with OBSI and they didn't so much as pick up a phone to call the complainants to get more details and discuss the case. Their conclusion did not even address the initial complaint and signed with the bank.

Complete waste of time. Do not bother.

just a billshit get out for banks , who subsidies them anyway , dont wast your time, this is a phony set up, Trudeau needs to sort out this scam ,but obviously will not, like any other beau acratic government crap agency, dont waste your time, go to small claims court, banks dont like this and will be a better outcome for you

It is clearly an organization that exists to pretend that there is justice and due process and to 'check a box off'. I would only go through them if you want to annoy people but not because you actually want anything useful to come from the experience. The clerk I dealt with had no knowledge on the topic and just closed the case without actually looking into anything, maybe coming to a mutual agreement. Instead just sent me an email stating I think the bank is fair so I am closing the case. That took 7 months. That 7 months is after over a year of annoying nonsense with the bank so there are 2 parties..only 1 is in agreement..how is this an Ombudsman again?

Take months to assign your matter to an investigator. Then investigation is wrapped up within 2 weeks - even though the offending company took days just ignoring a request for info. Despite the brokerage having no file to back claims; firm admitted to lying - still ruling goes against individual. Its time for Canada to get a regulator with some real authority. My advice - anyone who has been wronged by a bank, or brokerage company shouldn't waste his time with the OBSI - seek another avenue of recourse; one that actually has some authority and isn't simply funded by the companies they are tasked to investigate! The real joke - OBSI's slogan - "Make a complaint today & receive a fair, free & independent resolution" - should really be, "Make a complaint then wait months, then expect a rapid finding (despite any evidence or lack of evidence) in favour of the companies that pay OBSI salaries. Hey - PM Trudeau, time to disband this group, imo.

They claim they want to protect the consumers but they never request any documentary evidence from the financial institution's to verify the claim made by victims. If financial institutions provide any evidence against the victims, this organization does not question it as if the financial institutions are infallible. What this organization does is very appalling and is really an injustice for the victims. it says" Our service is free to consumers because it is funded by industry," it is funded by Banks. It speaks volume about what this organization does and their " senior investigators" do. They call themselves " investigators" I don't know what investigations they do? Canada needs independent investigators to go over the cases handled by this organization and that way they will know that there is a serious need to protect the consumers. Just don't waste your precious time. At times I wondered if they went through the victims cases and read their case papers because they came up with bizarre decisions.

They take all your paperwork don't ask any further questions or inform you how they investigated the issue. Then they finish by saying they can't do anything and you're still stuck with the same problem you started with 3 months ago.

Funded by the industry
In any country such organisation is funded by government/tax payers money
Representative has no empathy.

The Ombudsman for Banking and Investments (OBSI) is certainly not impartial and just want to get rid of you. Should be disbanded and a proper ombudsman with teeth installed.

Last year a fraudulent Etransfer was done on my account at Koho bank/People’s Trust.

When I contacted them they told me the transfer was done and they have absolutely no idea which bank the money was transferred to or where the money was deposited. It seems that people working there are involved with the fraudsters.

Money is disappearing from this bank and they claim they have no idea where the money is going.

After I insisted that they tell me where my money went they revealed that the money was deposited to an account at the CIBC but they were not going to do anything about it.

I then contacted CTVnews and they said they were going to broadcast the story on TV, at that point the bank buckled and decided to refund me my hard-earned money.

I then called the CIBC to let them know the fraudsters were stealing money from Koho Bank and transferring the money to the CIBC. The CIBC informed me that they will only take action if they receive a complaint from Koho Bank because it has to be handled bank to bank.

Koho bank has refused to stop the fraudulent transfers because it’s obvious that the fraudsters there are benefiting from the fraudulent transfers.

I also filed a complaint with the OBSI pointing out that by refusing to do anything to stop the fraudulent transfers Koho bank is in breach of their responsibility and obligation to try to prevent fraud from impacting their customers but the OBSI has refused to do anything about it.

The OBSI rarely sides with consumers because of the way it is funded, they usually side with the banks.