Complaints and Dispute resolution

In the event of a dispute arising with the bank, the customer may lodge a complaint by letter delivered at the branch, against acknowledgement of receipt, or by ordinary post or by registered letter with acknowledgement of receipt, fax, e-mail or certified e-mail – at the following addresses:

Cassa Centrale Banca - Credito Cooperativo Italiano S.p.A.
Ufficio Reclami
via Segantini 5 - 38122 Trento (TN)
Fax: +39 0461 313119
e-mail: reclami@cassacentrale.it
certified e-mail: reclami@pec.cassacentrale.it

The Bank shall inform the customer of the manner in which the complaint will be dealt with at the customer's request or, in any event, upon confirmation of receipt of the complaint.

The Bank must respond to complaints:

• within 15 working days of receipt, if the complaint relates to payment services (e.g. prepaid cards, debit cards, credit cards, etc.). If the bank, for exceptional reasons, cannot reply within 15 business days, it will send the customer an interim reply, in which it will clearly state the reasons for the delay and specify the time limit within which the customer will receive the final reply that must not exceed 35 business days.
• within 45 days of receipt, if the complaint relates to insurance policies placed by the bank in its capacity as insurance intermediary;
• within 60 days of receipt, if the complaint relates to banking and financial products and services (e.g. current accounts, mortgages, loans ...);
• within 60 days of receipt if the complaint relates to investment services.

With respect to complaints relating to insurance policies placed by the Bank, where the grievance that is the subject of the complaint relates to the conduct of the insurance company or to the insurance policy, the complaint may be lodged directly with the insurance company at the contact details of its complaints department indicated in the pre-contractual documentation as well as in the additional DIP (pre-contractual information document) delivered prior to the execution of the insurance contract to which the complaint relates.

If the client is not satisfied or has not received a reply by the specified deadline, before appealing to the court, it may contact one of the following:

1. In the event of disputes concerning banking and financial transactions and services:

• Financial Bank Arbitrator (Arbitro Bancario Finanziario - ABF). To find out how to contact the ABF, you can call the toll-free number 800.196969, consult the website www.arbitrobancariofinanziario.it, where the locally competent Bodies with their addresses and telephone numbers are also indicated, ask at the branches of the Bank of Italy, or ask the bank. The Arbitrator's decision is without prejudice to the customer's possibility of appealing to ordinary judicial authorities;
• Banking Settlement Body set up by the Banking-Financial Conciliator - Association for the settlement of banking, financial and corporate disputes - ADR. The customer can activate a mediation procedure, which consists of trying to reach an agreement with the bank with the assistance of an independent conciliator. For this service, you can contact the Banking-Financial Conciliator (a body enrolled in the Register kept by the Ministry of Justice), based in Rome, Via delle Botteghe Oscure 54, tel. 06.674821, Conciliatore Bancario Finanziario (Banking-Financial Conciliator) website. This is without prejudice to the possibility of appealing to the ordinary courts in the event that settlement is not reached;
• other specialised body listed in the appropriate register kept by the Ministry of Justice (available at www.giustizia.it).

2. In the case of disputes relating to investment services and activities:

• Arbitrator for Financial Disputes (Arbitro per le Controversie Finanziarie - ACF). For a more detailed explanation of the ACF's jurisdiction, please refer to the Information pursuant to the Regulation on Arbitration for Financial Disputes, available in this section. The investor's right to appeal to the ACF is unwaivable and can always be exercised even if there are clauses in the contracts allowing the dispute to be referred to other out-of-court settlement bodies. You can find out how to contact the ACF at Arbitro per le Controversie Finanziarie (Arbitrator for Financial Disputes);
• Banking Settlement Body set up by the Banking-Financial Conciliator - Association for the settlement of banking, financial and corporate disputes - ADR. The customer can activate a mediation procedure, which consists of trying to reach an agreement with the bank with the assistance of an independent conciliator. For more information, please visit Conciliatore Bancario Finanziario (Banking-Financial Conciliator). This is without prejudice to the possibility of appealing to the ordinary courts in the event that settlement is not reached;
• other specialised body enrolled in the appropriate register kept by the Ministry of Justice.

3. In the event of disputes concerning insurance policies placed by the bank:

• Istituto per la Vigilanza sulle Assicurazioni (IVASS) [Institute for Insurance Supervision]. To find out how to contact IVASS, please visit the website www.ivass.it. The IVASS decision is without prejudice, in any case, to the possibility for the client to appeal to the ordinary judicial authority;
• Commissione nazionale per le società e la Borsa (Consob) [National Commission for Companies and the Italian Stock Exchange]. For complaints concerning the verification of compliance with the provisions of the Testo Unico dell'Intermediazione Finanziaria [Consolidated Law on Finance] and the relevant implementing rules governing the correct drafting of the KID and the distribution of insurance investment products (IBIPs) by the persons authorised to insurance distribution pursuant to Article 1, letter w-bis) of the TUF [Consolidated Law on Finance] (Legislative Decree no. 58 of 24 February 1998), i.e. registered in section D of the RUI [Single Register of Insurance Intermediaries]. To find out how to contact CONSOB, visit the website www.consob.it.
• Commissione di vigilanza sui fondi pensione (COVIP) [Commission for the Supervision of Pension Funds]. For complaints concerning Supplementary pension schemes (PIP [insurance pension plans] and open-ended pension funds), please write to COVIP - Commissione di vigilanza sui fondi pensione - Piazza Augusto Imperatore, 27 - 00186 Rome.
  To find out how to contact COVIP, please visit www.covip.it.
• Another specialised body listed in the register kept by the Ministry of Justice (available at www.giustizia.it).

Please note that pursuant to Article 5 of Legislative Decree no. 28 of 4 March 2010 and its subsequent amendments, the mediation procedure, concerning insurance, banking and financial contracts, is a condition of admissibility of the judicial request.

The following are made available to the customer:

• ABF in Simple Terms (Italian version)
• ABF Portal User Guide (Italian version)
• Instructions for filling out ABF Application Forms (Italian version)
• ABF Application Form 2022 (Italian version)
• Brochure ACF - October 2021 (Italian version)
• Operating Instructions for Appeals before the ACF (Italian version)
• Regulation of the Banking-Financial Conciliator (Italian version)

Arbitrator for Financial Disputes

The Arbitrator for Financial Disputes (Arbitro per le Controversie Finanziarie - ACF), set up by Consob, is a dispute resolution tool between investors and brokers in the event of a breach of the diligence, fairness, information and transparency obligations with which brokers must comply when providing investment services or the collective asset management service, as well as of the obligations under Articles 13 and 14 of EU Regulation no. 1286/2014 and its implementing provisions (i.e. concerning key information documents for retail and packaged insurance investment products), including cross-border disputes and disputes covered by EU Regulation No. 524/2013 (disputes concerning online sales or service contracts entered into between a business professional and a consumer resident in the European Union).

Only savers (i.e. investors other than eligible counterparties and professional customers) can appeal to the ACF, for claims not exceeding Euro 500,000. In the event of claims for damages, the Arbitrator shall only award the investor those damage compensations that are an immediate and direct consequence of the Bank's breach of the above obligations, excluding non-financial damages.

Brokers are required to join the ACF.

The ACF ensures impartiality and independence of judgement. It is a system that allows the investor to obtain a ruling on the dispute quickly, without costs and without the need for legal assistance.

The claim may in fact be filed by the investor, either personally or through an association representing consumer interests or an attorney, when on the facts that are the subject of the claim:

• there are no other out-of-court dispute resolution procedures or arbitration or judicial proceedings pending and there is no declaration of ineligibility or adoption of the arbitration measure; 
• a complaint has first been lodged with the Bank and either it has not been accepted, in whole or in part, by the Bank or more than 60 days have elapsed since it was lodged without the Bank informing the investor of its decisions; 
• the Arbitrator has not already issued a ruling on the merits;
• there is no ruling on the merits, even if res judicata, rendered at the conclusion of judicial proceedings or a ruling on the merits rendered at the conclusion of arbitration proceedings.

More than one person may file the claim jointly only if they are parties to the same disputed relationship.

The submission of claims is made online, through the ACF's website (www.acf.consob.it), following the relevant guiding procedure.

The investor's right to file a claim with the ACF is unwaivable and can always be exercised even if the contracts contain clauses allowing the dispute to be referred to other out-of-court settlement bodies. 

The decision of the ACF is not binding on the investor, who retains the right to bring an action before the judicial authority.