Dispute Resolution Policy

3.1  This Policy applies to all disputes between a Client and Bancara, provided the Client has first submitted a formal complaint and received a Final Response under the Complaints Procedure (or the maximum response timeframe has elapsed).

3.2  The specific rights, governing law, and dispute resolution forums available to a Client are strictly determined by the jurisdiction of the specific Bancara Contracting Entity with which the Client has entered into an agreement, as defined in Appendix A of the Terms and Conditions.

4.1  If a client is dissatisfied with the Final Response provided by Bancara under the Complaints Procedure, they may request a further review of their Dispute by a member of Bancara’s senior management team. This internal escalation aims to provide a fresh, independent perspective on the Dispute and ensure that all aspects have been thoroughly considered at the highest internal level.

• Timeframe: The request must be submitted in writing within 14 days of receiving the Final Response.
• Process: The dispute will be escalated to a member of Bancara’s senior management who was not involved in the initial complaint investigation. The senior manager will conduct an independent review of the facts, the initial findings, and the Client’s representations.
• Final Internal Position: Bancara will issue a Final Internal Position in writing. This communication will represent Bancara’s definitive stance on the matter and will mark the conclusion of the internal dispute resolution process.

5.1 Ombudsman Services and Regulatory Authorities

In jurisdictions where Bancara is subject to the jurisdiction of a statutory financial ombudsman or a specific regulatory dispute-resolution framework, eligible Clients may refer their dispute to that body within the statutory time limits (typically within six months of receiving the Final Internal Position).

5.2 Alternative Dispute Resolution (ADR)

Where mutually agreed upon in writing, or where required by the governing law of the Contracting Entity, the parties may agree to submit the dispute to mediation or binding arbitration.

5.3. Legal Proceedings

Subject to the exclusive jurisdiction clauses set out in the Terms and Conditions, a Client may pursue legal action in the competent courts of the Contracting Entity’s jurisdiction. Bancara expects that all internal dispute resolution mechanisms will be exhausted prior to the commencement of formal litigation.

6.1  Bancara’s ability to resolve disputes, including the processing of any financial redress, settlement payments, or account adjustments, is strictly subject to Bancara’s overriding legal and regulatory obligations.

6.2  Bancara reserves the right to delay, suspend, or withhold any dispute resolution action or payment if required to comply with Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), or international sanctions laws, or upon the instruction of a banking partner, payment processor, or regulatory authority. Bancara is not liable for any delays or losses arising from such compliance obligations.

6.1  Bancara will maintain comprehensive records of all escalated disputes, internal reviews, and external referrals for a minimum of seven years, or longer if required by applicable law.

6.2  All dispute resolution proceedings, including settlement negotiations, are strictly confidential and may not be disclosed to third parties without Bancara’s prior written consent, except as required by law or a competent regulatory authority.

7.1  This Dispute Resolution Policy 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 Policy will be communicated to Clients via Bancara’s website or other appropriate channels.