Step 2: Taking your complaint further
If you are not satisfied with the financial provider's response (or you have not received it after allowing 15 workings days, that is around three weeks), we can help you.
Who can lodge a complaint with the OAFS?
If you are a customer who has acquired products or availed of services from a financial services provider licensed by the Malta Financial Services Authority (MFSA), the financial regulator in Malta, then you are eligible to lodge a complaint with us.
A customer has to be either:
- a natural person (or its successor in title)
- a micro-enterprise. A micro-enterprise is a firm that does not employ more than 10 persons and its turnover/balance sheet totals do not exceed €2,000,000.
Such customer may either be:
(a) a consumer of a financial services provider licensed by the financial regulator in Malta (see below); or
(b) to whom the financial services provider has offered to provide a service; or
(c) who have sought the provision of a financial service from a provider.
This means, for example, that we are unable to accept:
(i) motor-insurance third party complaints (i.e. a consumer complaining against the insurance company of another party); or
(ii) home damage disputes lodged against insurers of alleged tortfeasors (i.e. complaints against the insurance company of a neighbour who has caused damage to your house following water ingress).
What financial services providers can you complain about?
We can only accept complaints against providers who are licensed or authorised by the Malta Financial Services Authority (MFSA), the financial regulator in Malta. This includes providers whose licence has been suspended or withdrawn by the MFSA. The Arbiter has the power to investigate complaints against providers whose licence has been suspended or withdrawn by the MFSA, but which were licensed during the period in relation to the provider’s conduct being complained of.
Financial service providers include:
- Banks
- Financial Institutions (such as e-money institutions);
- Insurance companies (general and life insurance);
- Insurance intermediaries (such as agents, brokers, and tied insurance intermediaries);
- Investment services providers (such as financial advisers and stockbrokers);
- Trustees; and
- Pension providers.
Before you submit your complaint to us, please check whether the financial services provider you are complaining about is (or was) licensed by the regulator in Malta, click here to access the MFSA’s financial services register (external link).
If you are unable to locate the name of your provider on the MFSA's online register, check your product or service documentation. You might be searching for a provider who is not authorised by the Maltese financial regulator (in which case, we would not be able to accept your complaint) or you may be writing it wrongly. If in doubt, use our online form and submit your difficulty.
Once you're done with this step, you can proceed to Step 3: Complain with us.