BSP consumer complaints surged by 72.6% to more than 120,000 in 2025, reflecting both the rapid adoption of digital financial services and growing public awareness of the Bangko Sentral ng Pilipinas’ (BSP) consumer assistance channels.
The figure rose sharply from 70,112 complaints in 2024, according to the central bank’s 2025 annual report.
The increase comes as more Filipinos use digital banking, e-wallets, online payments, and other financial services, giving consumers more opportunities to raise concerns when transactions go wrong.
Digital finance brings new consumer challenges
The rise in complaints does not necessarily mean that financial services have become less reliable. It also reflects greater consumer awareness of available redress mechanisms and the growing number of Filipinos participating in the formal financial system.
As digital transactions become more common, consumers are dealing with a wider range of issues involving account access, unauthorized transactions, payments, service quality, and other financial products.
The BSP’s Consumer Assistance Mechanism (CAM) serves as a second-level recourse for consumers who have already raised their concerns with the financial institution involved.
BSP’s digital complaint channel gains importance
The central bank’s AI-enabled chatbot, BOB, or BSP Online Buddy, remained the primary channel through which consumers filed complaints with the BSP in 2025. The use of a digital complaint channel mirrors the broader shift in how Filipinos interact with financial institutions and government services.
Complaints that cannot be resolved through the initial facilitative process may proceed to mediation. Mediation referrals increased 48.9% to 1,057 cases in 2025 from 710 a year earlier.
Including 131 cases carried over from 2024, the BSP handled 1,188 mediation cases during the year. Of the 876 cases completed, 409 were successfully resolved through mediation, while 144 failed to reach an amicable settlement.
Consumer protection faces a new test
While the surge in BSP consumer complaints indicates that consumers are increasingly aware of their rights, it also highlights the challenges facing financial institutions as digital services expand.
IMAGE CREDIT: Safeguarding Consumer Rights: Navigating the Landscape of Consumer Protection Law
The shift toward app-based banking and cashless payments means that consumer protection must keep pace with increasingly complex financial products and faster transaction channels.
For banks and fintech companies, this places greater importance on clear customer communication, responsive dispute resolution, fraud prevention, and accessible support channels.
For consumers, the BSP recommends first raising concerns directly with the financial institution’s own Financial Consumer Protection Assistance Mechanism before escalating unresolved cases to the central bank.
More digital services, more accountability
The sharp increase in BSP consumer complaints shows that financial inclusion is not only about giving Filipinos access to digital financial services. It also requires ensuring that consumers have effective mechanisms to raise concerns, resolve disputes, and seek redress when things go wrong.
As digital banking and payments continue to expand, stronger consumer protection mechanisms will become increasingly important. The challenge for the financial industry is to make digital services not only faster and more convenient, but also safer, more transparent, and more responsive when things go wrong.
