Account management issues, delays in fund transfers and unauthorized online transactions have already pushed the number of consumer complaints beyond the 120,000 processed by the central bank last year, according to a Bangko Sentral ng Pilipinas (BSP) deputy governor.
‘Ngayon palang, hindi pa end of the year, na-reach na namin ‘yun [120,000 complaints],’ BSP Deputy Governor for Regional Operations and Advocacy Sector Bernadette Romulo-Puyat told reporters on the sidelines of the Chamber of Thrift Banks’ (CTB) General Membership Meeting on Friday in Makati City.
She said some of the woes of consumers for the first quarter of 2026 revolved around account management like closure, opening, and dormancy.
Also among the top consumer issues were non-receipt or delays in fund transfers and unauthorized online transactions.
In its 2025 Annual Report, the BSP said its consumer assistance unit received and processed over 120,000 new complaints in 2025, which pales in comparison to the 70,112 complaints lodged with the BSP in 2024.
The volume of complaints has risen steadily over the years, from 19,181 in 2021, the BSP added.
Romulo-Puyat said the central bank directly accepts complaints from consumers regardless if the complaint should have been filed with another government agency as the BSP upholds the ‘No wrong door’ policy.
Paleng-QR Ph
Meanwhile, the BSP official also told reporters that 1,000 local government units (LGUs) have already adopted the Paleng-QR Ph initiative-the program which aims to maximize the use of digital payments in markets and tricycle hubs through the QR Ph initiative.
According to the central bank, LGUs are encouraged to participate in this program so their constituents can avail cashless transactions in the markets.
‘We hope that more people will use QR…pero napansin namin whenever we launch a Paleng-QR, lagi unang sinasabi ng mga tao kaya financial education is important… ‘Ay ayaw namin magbukas ng account kasi ma-scam kami.’ So financial education is really important,’ Romulo-Puyat said.