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Complaints about SVF Licensees

Choose SVF licensees carefully

Although SVF licensees in Hong Kong are subject to the supervision of the HKMA, their mode of operations may vary significantly depending on their business models and customers.  SVF users should therefore choose their SVF licensees carefully by comparing, among things, their types and scope of services, terms and conditions, fee structure and redemption policy.  If SVF users believe that the nature or level of service provided by an SVF licensee does not meet their expectation, they should consider choosing another SVF licensee that suits them.


Complaint handling of Stored Value Facility Licensees

There are occasions when SVF users decide to lodge a complaint against an SVF licensee, whether or not they still want to remain as its customers.  SVF users may lodge a complaint for many different reasons, e.g. unsatisfactory customer experience, disputes on fees and charges, or concerns regarding issues like data privacy or payment security. 

The HKMA requires that all SVF licensees should have in place an established and effective complaint handling mechanism to ensure that all complaints received are handled in a reasonable manner.  As such, it will be effective for SVF users to lodge a complaint directly with the SVF licensee first in order to have the issues addressed or resolved at an early stage.  Many disputes and complaints arise from misunderstandings or expectation gaps, and they can in many cases be resolved after a complainant has talked to the SVF licensee.  Each SVF licensee has a specific responsible contact to handle complaints, and their contact details are set out in “List of SVF licensees’ contact details for handling customer complaints” (PDF File, 124KB) or call the HKMA at 2878 1188 to find out.

Nevertheless, not all disputes or complaints can be resolved effectively through the SVF licensee’s complaint handling processes.  For example, an SVF user may have grounds to believe that the SVF licensee (i) did not take reasonable steps to handle his or her complaint, (ii) may have breached certain provisions of the Payment Systems and Stored Value Facilities Ordinance (PSSVFO),  or (iii) may have committed certain misconduct such as misrepresentation.  For these cases, complainants can report to the HKMA, which will look into the matter. 

It should nevertheless be noted that the HKMA will not normally interfere with an SVF licensee’s commercial decisions and adjudicate or intervene in a commercial dispute between an SVF licensee and its customers, provided that the relevant terms and conditions have been clearly set out for reference by the SVF users.  Through involvement in the handling of dispute between the complainant and the SVF licensee, the HKMA seeks to ensure that (i) SVF licensees did take reasonable steps to handling the complaints they received, (ii) SVF users are fairly protected in accordance with the PSSVFO, and (iii) issues of regulatory concern, if any, will be followed up appropriately. 


Lodging complaint with the HKMA

You can lodge a complaint about an SVF licensee with the HKMA by completing a complaint form (PDF File, 139KB).  The complaint form can be downloaded from the HKMA’s website or be sent to you by post, email or fax upon your request. 

Please complete the complaint form with sufficient information that enables the HKMA to handle your complaint properly and promptly.  You can deliver the completed form to the HKMA in person or send it to us by post, email, or fax.  The relevant contact information is set out at the end of the complaint form and also below. 

Please note that a non-signed complaint form delivered to the HKMA in person, by post or fax will not be handled and will be returned to the sender according to the available address specified in the form.  When you submit a completed complaint form to us through email, you may either send a scanned copy of the form with your signature, or a completed form in the editable PDF file format directly without signature.  In the latter case, you are required to give your consent by ticking the box in section 5 of the complaint form, to the HKMA to disclose the complaint’s information and your personal data to the licensee and other parties concerned in a prudent manner.

Please also note that all telephone conversations about the complaints between you and the HKMA may be recorded and your information is subject to the disclosure of personal information and data set out in section 5 of the complaint form.

Contact Details

Enquiry Line    : (852) 2878 1188
Fax                  : (852) 2887 2234
E-mail              :
Address           : Retail Payment Oversight Division
Hong Kong Monetary Authority

55th Floor
Two International Finance Centre
8 Finance Street
Hong Kong


Last revision date: 6 September 2018
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