Financial Consumer Protection Center
The Financial Consumer Protection Center (FCC) is a unit of the Bank of Thailand that links directly with consumers and the provision of its service is purely for the benefit of consumers. With advancing modern technology, financial products and services have become more sophisticated than ever. Emphasizing on financial consumers’ right protection and financial literacy promotion, the Bank of Thailand (BOT) has officially established the Financial Consumer Protection Center on January 13, 2012. The center also aims to provide consumers with financial knowledge and understanding of their rights and responsibilities, enabling them to make decent financial planning and maintain financial discipline.
The FCC is tasked with two main responsibilities:
1 To serve as a one-stop service center to handle enquiries and complaints regarding financial products and services provided by the financial service providers under the Bank of Thailand’s, as well as fixing problems, coordinating, and tracking result of complaints. The FCC also provides information and advices about other BOT’s services such as banknotes, bonds, and foreign exchange regulations. Moreover, the FCC forwards problems, complaints, and suggestions to relevant authorities as input for supervision policy improvement in a bid to ensure financial institutions weigh consumers’ rights and treat them fairly.
2 To equip consumers with financial knowledge, literacy, and immunity in order to raise awareness and understanding of consumer rights and responsibilities, enable informed decision making, and avoid becoming victims of fraud.
Consumers finding difficulties with financial services can seek advices or file complaints to the FCC at hotline 1213, or fax at 0-2283-6151, or e-mail at email@example.com, or contact the Financial Consumer Protection Center in person at the BOT’s headquarters, the Northern region office, the Northeastern region office, and the Southern region office.
In addition, the FCC also distributes useful information to promote financial literacy tailored for people of different age groups such as knowledge about savings for children, mortgage and hire purchase planning for working ages, financial and investment planning for retirement ages. These materials can be found at the FCC’s website www.1213.or.th, or via Facebook at www.facebook.com/hotline1213, or through exhibitions, lectures, and publications such as free booklets for interested persons.
Interesting information about financial services and financial consumer protection can also be found at external agencies such as Securities and Exchange Commission (SEC), Thailand Securities Institute (TSI), Office of Insurance Commission (OIC), National Credit Bureau, Office of the Consumer Protection Board (OCPB), and the Department of Special Investigation (DSI)