Because OBSI had such bad overall ratings of their service, and took down their Google review platform, I am posting my personal experience with OBSI on TrustPilot. I complained about c... See more
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Wonder why you can’t find OBSI on google maps? They had such bad reviews the organization requested their own deletion. Better use the courts as the OBSI agents are all former big 5 executives. You ha... See more
After weeks of constant stress but at the sametime being guaranteed OBSI would be the answer to my problems, it wasn't. OBSI is as everyone else here says, useless. As a matter of fact, they have... See more
You repeat your story 100 times, OBSI will never highlight mistake of Bank, in their decision, they will not even touch the part which can put Bank on the wrong side. I think that's why some people ha... See more
1.4
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Corrupt incompetent dishonest
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.
1 June 2022
Unprompted review
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