Terms of service & software licence

Using Bankverto

Formaexlabs provides Bankverto to read statements, help you review transactions, and prepare financial summaries and accounting records. You must be at least 18 years old and legally able to enter into this agreement. If you act for an organization, you must have authority to do so.

Bankverto is delivered online; no physical goods are shipped. Access and processing capacity for a paid purchase are supplied to the selected workspace after payment verification. Contact us through the public customer-care page if payment is confirmed but access is missing, or if you cannot sign in to raise a complaint.

Software licence (EULA)

While you meet these terms and your plan conditions, you have a limited, non-exclusive right to access and use Bankverto for your own finances or your authorized professional work. Account access may not be transferred or resold. Bankverto and its licensors keep the rights to the software, branding and service; you keep the rights to your records and exports. This licence does not give us ownership of your bank statements.

Do not copy or redistribute the software, remove ownership notices, bypass access controls or use another person’s account. Restrictions on examining, adapting or reverse engineering software apply only to the extent allowed by law; mandatory interoperability rights and separate open-source licences remain unaffected. Authorized practice members may use the service within the permissions and plan assigned to them.

Your account and documents

Keep account credentials secure and maintain access to your recovery email. Upload only information you are entitled to process. You keep the rights to your uploaded content and authorize the processing needed to provide the tools you request. CA workspace owners are responsible for client authorization and the access they grant to staff and clients.

Original statement files are deleted after successful processing. Keep your own copy for review and any recordkeeping obligation. Extracted records remain available until deleted. Interrupted or failed processing retains temporary inputs for recovery; the Privacy Policy explains cleanup retries and provider limitations.

Review before relying on results

OCR, extraction and AI categorization can make mistakes or leave records incomplete. Check results against the original documents before using them for accounting, tax, financial decisions or other important purposes. Bankverto is software, not a bank or a provider of regulated financial, tax, legal or audit advice. An extraction-quality indicator may help identify records needing review; it does not certify correctness or completeness.

Service scope and regulated records

Bankverto processes files you upload. It does not connect directly to banks through the RBI Account Aggregator framework, hold deposits, initiate bank transfers or act as your investment adviser. We do not represent Bankverto as an RBI-licensed Account Aggregator. A financial account in the workspace is an organizational record for your uploads. If your practice needs a data-processing agreement, regulated service-provider contract or particular residency or transfer terms, contact us to establish those arrangements before supplying the records. These Terms alone are not a regulatory approval or a representation that every regulated outsourcing requirement has been met.

Plans, payment and cancellation

Personal Finance and CA Workspace have separate subscriptions, features and allowances. The price and charging currency are shown before you authorize payment. A displayed currency does not mean checkout is available in that currency. Your bank or payment provider may charge its own conversion or cross-border fees. Tax treatment depends on the supplier's verified registration and applicable law. Check the displayed final amount before authorising a payment; if it differs from the advertised price, do not proceed and contact support. The price, billing interval, renewal schedule and limits shown at checkout apply to a purchase. An annual price is charged for the year, not each month. Free plans are available. Paid purchases require an active, configured checkout. Subscriptions may renew during the fixed number of billing cycles configured with the payment provider, unless cancelled earlier. A subscription does not authorize charges beyond its configured term without any further valid arrangement. Check the provider's subscription confirmation and Billing for the renewal schedule, term, status and cancellation date. Cancellation normally leaves access in place through a period already paid for, subject to payment and legal issues. Plan changes take effect according to the confirmed provider schedule.

Monthly usage allowances reset on the first day of each UTC calendar month (05:30 IST). This quota month is separate from the Indian April–March financial year. Personal and CA have separate free upload allowances. The CA Free upload allowance is shared across Free practices owned by the same account. Deleting a document does not restore used allowance. Reprocessing the same document does not charge its already-counted pages again. CA page packs add processing capacity to their selected workspace. Purchased page credits do not expire; using them requires an active paid CA plan. Read the Refunds & cancellation policy before purchasing. Billing disputes can be raised through Help & privacy requests; mandatory consumer remedies remain available.

Acceptable use

Do not upload malware, attempt unauthorized access, misrepresent another person’s authority, circumvent usage limits, or disrupt the service. We may restrict access for abuse, legal requirements or unpaid charges. Where appropriate, we will explain what you need to do to resolve the issue.

Service changes and ending use

Features may change as the product develops. We do not promise uninterrupted availability or compatibility with every statement format. This does not remove any statutory service-quality obligation or consumer remedy. The software licence ends when your account is closed or access is lawfully terminated. You may stop using the service, export supported records, cancel subscriptions and request account deletion. Some billing, usage, acceptance and security records may remain for their relevant purposes.

Privacy and rights

The Privacy Policy and Cookie Policy explain information handling and browser storage. These terms do not exclude rights or remedies that cannot lawfully be excluded in your country, including applicable consumer and data-protection rights in the US, UK, UAE, EU and India.

Indian law and consumer remedies

Indian law governs these terms, subject to any mandatory protections that apply to you. Disputes may be brought before the courts or consumer commissions with jurisdiction under applicable law. These terms do not require arbitration or restrict a consumer’s statutory choice of forum. Bankverto does not file income-tax or GST returns on your behalf, move money between bank accounts, or provide bank or investment services. Ledger mapping, Tally preparation and tax-related categories are review aids; a bank statement is not a GST tax invoice and does not establish input-tax-credit eligibility.

Questions and changes

Use Help & privacy requests for service, billing or legal questions. The version above identifies these terms and the software licence. We will ask you to accept significant changes when required. Continuing to use the service does not replace a specific consent action required by law.

For support, billing, refunds, complaints or a privacy request, email support.bankverto@gmail.com. You can email without signing in. Include enough information to identify your request; never send passwords or full account numbers. Contact and follow-up guidance.