1. Introduction
Bancara is steadfastly committed to upholding the highest standards of client service and maintaining transparent, fair, and efficient dealings.
This Complaints Procedure (“Procedure”) establishes the formal process for clients to submit expressions of dissatisfaction, outlines Bancara’s rigorous approach to handling and investigating such complaints, and details the available avenues for escalation.
The overarching objective of this Procedure is to ensure that all complaints are addressed promptly, impartially, and in strict accordance with all Applicable Law, regulatory requirements, and Bancara’s internal policies, including the Bancara Terms and Conditions.
2. Definitions
- Applicable Law: All relevant laws, statutes, regulations, directives, rules, and guidance issued by governmental, regulatory, or self-regulatory authorities in any jurisdiction pertinent to Bancara’s operations or the client’s contractual relationship.
- Bancara: Refers to the specific Bancara entity or entities as defined in the Bancara Terms and Conditions.
- Business Day: Any day other than a Saturday, Sunday, or public holiday in the jurisdiction of the relevant Bancara contracting entity.
- Client: The individual or legal entity that has entered into a contractual relationship with Bancara.
- Complaint: A formal expression of dissatisfaction, whether written or oral, by a Client regarding the provision of financial services by Bancara, where the Client alleges that they have suffered, or may suffer, financial loss, material distress, or material inconvenience.
- Complainant: The Client who has submitted a Complaint, or their duly authorized representative.
- Final Response: A written communication from Bancara to the Complainant that accepts or rejects the Complaint and outlines any remedial action or escalation rights.
- Terms and Conditions (T&Cs): The Bancara Terms and Conditions, as amended from time to time, which govern the contractual relationship between Bancara and its clients.
3. Scope and Applicability
- This Procedure applies to all Complaints made by Clients regarding the services provided by Bancara, irrespective of the Client’s contracting entity or geographical location.
- This Procedure is publicly accessible on Bancara’s official website, ensuring transparency and ease of access for all Clients.
- Bancara is committed to treating all Complainants fairly and consistently, with particular consideration given to the needs of Vulnerable Clients.
4. How to Make a Complaint
Clients are encouraged to submit their Complaints in writing to ensure clarity and facilitate a comprehensive investigation.
Complaints can be submitted via the following channels:
- Dedicated Complaints Email: [email protected]
- Online Complaint Form: Accessible via the Complaint Form page on Bancara’s website.
- Required Information: To expedite the investigation process, Complainants should provide:
- Full Client Name
- Trading Account Number(s)
- Preferred Contact Information (email address and telephone number)
- Date(s) and time(s) of the incident or issue giving rise to the Complaint
- A clear description of the issue and specific transaction details
- Any supporting documentation
5. Complaint Handling Process
5.1 Acknowledgement
Bancara will issue a written acknowledgement of receipt to the Complainant within five (5) Business Days of receiving the Complaint, including a unique reference number.
5.2 Investigation
Bancara will conduct a thorough, impartial, and objective investigation into the Complaint. This process will involve:
- Evidence Gathering: Collecting all relevant internal records (e.g. trade logs, communication records, system data), reviewing supporting documentation provided by the Complainant, and, where necessary, seeking information from relevant third parties.
- Analysis: A detailed analysis of the facts, circumstances, and Applicable Law pertaining to the Complaint.
- Confidentiality: All information related to the Complaint will be handled with strict confidentiality, in accordance with Bancara’s Privacy Policy and Applicable Law.
- Interim Updates: If the investigation is complex or is expected to exceed the initial timeframe, Bancara will provide the Complainant with regular interim updates on the progress of the investigation and a revised estimate for the Final Response.
5.3 Final Response
Bancara aims to provide a Final Response within eight (8) weeks from the date of initial receipt. If delayed, the Complainant will be informed of the reasons.
6. Escalation Path and Jurisdictional Limitations
If a Complainant is not satisfied with Bancara’s Final Response, they may pursue the following escalation avenues.
6.1 Internal Escalation (Senior Management Review)
The Complainant may request a review of the Final Response by a more senior member of Bancara’s management team. This internal review aims to provide a fresh, independent perspective on the Complaint and ensure that all aspects have been thoroughly considered. Such requests should be made within a reasonable timeframe (e.g. 14 Business Days) of receiving the Final Response.
6.2 External Escalation (Regulatory Bodies and Ombudsman Services)
If the Complainant remains dissatisfied after exhausting Bancara’s internal complaints process, they may have the right to refer their Complaint to the relevant regulatory body or an independent financial ombudsman service.
Critical Disclosure: The availability of such external mechanisms, compensation schemes, or investor protection arrangements is strictly determined by the jurisdiction of the Complainant’s specific contracting entity and the Applicable Law governing their account. Access to these services is not universal.
7. Compliance, AML, and Sanctions Controls
The processing of any Complaint, including the payment of financial redress, settlement, or the adjustment of Account balances, is strictly subject to Bancara’s overriding Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and sanctions obligations. Bancara reserves the absolute right to delay, withhold, or refuse complaint resolutions or payouts if required to comply with regulatory directives, banking partner instructions, or internal security protocols.
8. Record Keeping
8.1
Bancara will maintain comprehensive records of all Complaints received, investigations conducted, and Final Responses issued.
8.2
Records will be retained for a minimum period of seven (7) years, or longer if required by Applicable Law.
9. Policy Review and Updates
This Complaints Procedure will be subject to regular and systematic review by Bancara’s Legal and Compliance departments, at least annually, or more frequently as necessitated by changes in Applicable Law, regulatory guidance, internal policies, or business practices.
Any amendments to this Procedure will be communicated to Clients via Bancara’s website or other appropriate channels.
Version: 1.0
Effective Date: June 30, 2026