Complaints procedure in relation to payment service providers

Where a person is unhappy with the services provided by a payment services institution he or she should, in the first instance, instigate the formal complaints procedure of that firm. 
If a complainant remains dissatisfied and believes that (s)he has a case then a complaint may be submitted to the GFSC with regard to payment service providers' alleged infringements of the requirements of the Financial Services (Payment Services) Regulations 2010.  This process does not preclude a person's right to bring proceedings before the Supreme Court though anyone contemplating such action should always consider taking legal advice at an early stage.

Who can complain?

Payment service users and other interested parties, including consumer associations, may submit complaints to the GFSC with regard to payment service providers' alleged infringements of their legislative requirements.

There are out-of-court redress procedures for the settlement of disputes between payment service users and their payment service providers in relation to disputes concerning rights and obligations arising under the Payment Services Directive.

How do I complain?

If you wish to make a complaint please do so in writing (this can be by e-mail). We cannot investigate complaints that are not made in writing, so please do ensure that you write to us and provide as much detail as possible to carry out a thorough investigation.   

The address to write to is: 

Payment Service Team
Gibraltar Financial Services Commission
PO Box 940
Suite 3, Ground Floor
Atlantic Suites
Europort Avenue

You can also contact us from here

How will my complaint be dealt with?

Once we have received a complaint from you, we will decide whether it is a complaint that can be investigated under the complaints process. If we consider that it can, it will be entered on the central Complaints Register. You will receive an acknowledgement within five working days of receipt of the complaint. If we decide not to investigate the complaint, we will write to you within ten working days of receiving it to tell you about the decision and give you reasons for it. If we decide to investigate a complaint, it will be investigated as quickly as possible. If the investigation is not completed within four weeks, you will be contacted and given a likely completion date. We will aim to ensure that we complete the investigation of a complaint within eight weeks.

What happens if my complaint is rejected?

We will write to you to give you our reasons for rejecting your complaint.

What if I am unhappy with the outcome, or if I am not satisfied with the progress of the investigation of the complaint?

You may decide to bring proceedings before the Supreme Court.

Is there a time limit on making a complaint?

Yes. You should complain within 12 months of the date on which you first became aware of the circumstances of the complaint. If made later than this, your complaint will only be investigated if you can show a good reason for the delay.

Does it cost anything?

No. There is no charge for the investigation of a complaint.