LQID Bank - Privacy Notice
We take your privacy seriously and we’re committed to ensuring that your information is secure with us and with any third parties who act on our behalf. Our Privacy Notice below describes what personal information of yours we collect and how we use it.
- If you have any questions or concerns about this Privacy Notice, please email them to: email@example.com
2. Information about us
- Our site address is www.banklqid.co.uk
- Our company name is Shop & Finance Limited, trading as LQID Bank
- Our registered address is 184 Shepherds Bush Road, London, United Kingdom, W6 7NL
3. Protecting your personal data
We hold all personal data and confidential information based on the following standards:
- We use security measures to help protect your data from unauthorised access, maintain data accuracy and to ensure the appropriate use of your data.
- We do expect you to be responsible for maintaining the security and confidentiality of your log in details.
- We will never share your data with anyone else for marketing purposes unless you have consented to us doing so.
4. Routine Information Collection
Your information is made up of all the financial and personal information we hold about you and your transactions. It includes:
- Information you give to us
- Information that we receive from third parties, third parties who provide services to you or us, and fraud prevention or government agencies
- Any information we collect on you to discharge our regulatory obligations or to provide our services
- Information that we learn about you through our relationship with you and the way you operate your account(s) and/or services
- Information that we gather from the technology which you use to access our services (e.g. location data from your mobile phone, or an Internet Protocol (IP) address)
All web servers track basic information about their visitors. This information includes, but is not limited to: IP addresses, browser details, time stamps and referring pages. None of this information can personally identify specific visitors to this site. The information is tracked for routine administration and maintenance purposes.
5. How we use your information
We may collect and process personal data about you in conjunction with:
- Deciding to accept any applications made by you and carrying out any initial and ongoing identification checks in line with all applicable laws and regulations (including those relating to, but not limited to anti-money laundering, counter terrorist financing and financial crime prevention).
- Making searches of the records of third-party reference agencies to verify any information you supply us.
- Verifying and making credit checks on any application for credit by you with us and making further credit checks and seeking further verifications from time to time throughout the life of any credit agreement entered into.
- In the event of any false or inaccurate information being supplied by you, recording such details and notifying other organisations (including law enforcement agencies).
- Communicating with you.
- Managing your account(s).
- Preventing or detecting any illegal activity in relation to your account(s).
- Tracing debtors and recovering debts, including the use of third-party debt collection agencies appointed by us.
- Using anonymised data for the production of confidential research and analysis in order to develop the products and services we provide.
- Sharing information about you, any products and services that you hold or apply for and activity on your account(s) with other organisations (including regulatory and law enforcement agencies) for the purposes the bank’s ongoing compliance with all applicable laws and regulation including those relating but not limited to anti-money laundering, counter terrorist financing and financial crime prevention.
Where we hold and process your personal information on the basis of consent, we will ask for your permission in advance.
We will ensure that your personal data is processed lawfully, fairly, and transparently, without adversely affecting your rights. We will only process your personal data if at least one of the following applies:
- You have given consent to the processing of your personal data for one or more specific purposes;
- Processing is necessary for the performance of a contract to which you are a party e.g. application process.
- Processing is necessary for compliance with a legal or regulatory obligation to which we are subject;
- Processing is necessary to protect the vital interests of you or of another natural person;
- Processing is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the controller; and/or
- Processing is necessary for the purposes of the legitimate interests pursued by us or by a third party (such as helping us to understand how customers use our services and to develop new services, as well as improving the service we provide), except where such interests are overridden by the fundamental rights and freedoms of the data subject which require protection of personal data.
6. Accessing your information
If you’d like a copy of the personal information we hold about you, please contact us by making a subject access request at firstname.lastname@example.org
We may charge a reasonable administrative fee to comply with requests for further copies of the same information, where a request is manifestly unfounded or excessive, particularly if it is repetitive (in which case we may alternatively refuse to respond).
7. Changes to the way we use your information
Where we are required to process your personal data, we may change the way we use your information. We’ll always reach out to you so that you are informed of any changes that we will be making. If you don’t agree to such changes, we may not be able to continue dealing with you.
8. Sharing with third parties
We won’t share your information with anyone outside LQID except where it is necessary for the performance of our services, we have your permission or where we are required by law, law enforcement agencies, government entities, tax authorities or regulatory bodies around the world.
These are the categories of third parties that may have access to your information:
- Payment-processing service providers and others that help us process your payments.
- Other financial institutions who you ask us to deal with, for example your third-party Nominated Account provider.
- Independent third-party service providers who you (or a third party properly authorised to give instructions on your account) ask us to share information with, for example, payment initiation or account information services.
- Companies that you have paid from your account who request complete account details for you to enable them to take a payment (for example, utility companies).
- Credit reference agencies, for the performance of any identity and credit checks on you in line with our legal and regulatory obligations.
- Our service providers and agents (including their sub-contractors). This may include, for example, third party marketing and advertising agents, where you gave us your specific consent in relation to our marketing communications, or where we pass your details to someone to deliver you a gift or a gesture of goodwill.
- Any third party after a restructure, sale or acquisition of Shop & Finance Limited, as long as that person uses your information for the same purposes as it was originally given to us or used by us (or both).
- Anyone to whom we transfer or may transfer our rights and duties in our agreement(s) with you.
- Your advisers (such as accountants, lawyers, financial or other professional advisers) if you have authorised them to represent you, or any other person you have told us is authorised to give instructions or to use the account or products or services on your behalf (such as under a power of attorney).
- UK and overseas regulators, law enforcement agencies and authorities in connection with their duties, such as crime prevention (whether directly or via third parties such as credit reference agencies) or carrying out social or economic statistical research. This may include payment details (including information about others involved in the payment).
- The personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found on the CIFAs website: https://www.cifas.org.uk/fpn.
We will take reasonable steps to ensure that your data will be handled safely, securely and in accordance with your rights, our obligations, and the obligation of the third party under GDPR and the law.
We will only share your information with third parties on a limited basis and in accordance with our internal procedures.
In the event that you want to add any additional users to your account, we will ask you to authorise us to pass information about you to the other user. You must only give us personal information about someone else (such as an email) if they have given their permission for it to be used and released to us. We will assume that he or she has given permission, although we may still ask for confirmation.
We won’t share your information with third parties for marketing purposes.
If you consent to a third-party provider accessing your accounts to provide you with their services, this carries a risk. We’re not responsible for any such third-party provider’s use of your account information. This will be governed by their agreement with you and any Privacy Notice or equivalent statement they provide to you.
9. Transferring information overseas
We may transfer your information to organisations in other countries where it is necessary for the provision of our services to you or where you give your informed consent, on the basis that anyone to whom we pass it protects it in the same way we would and in accordance with applicable laws.
The UK and other countries in the EEA have similar standards of data-protection laws for your personal information. We may, in connection with providing our services to you, send your personal information for processing to a country outside the EEA which does not have a similar standard of data protection laws to the UK. If this is the case, we will make sure they protect your personal information in line with the requirements of data protection laws in the UK, including the GDPR.
We process international payments outside the UK through SWIFT (the worldwide payments system). When we do this, your personal information may be processed and stored abroad by other banks or financial institutions involved in completing the payment. Those banks and financial institutions may have to release the information to foreign authorities, including those outside the EEA (in which case your personal information may not be protected in line with the requirements of data-protection laws in the UK).
10. Marketing Information
If you permit us to do so, then we’ll send you relevant marketing information (including details of other products or services provided by us which we believe may be of interest to you), by mail, phone, email and other forms of electronic communication, in accordance with the scope of your permission.
If you change your mind about how you’d like us to contact you or you no longer wish to receive this information, you can tell us at any time by contacting us at: email@example.com
11. How long we keep your information
We will keep your personal data for as long as we have a relationship with you. Once our relationship with you has ceased (e.g. following closure of your accounts or following a one-off transaction), or your application for a product is declined or not proceeded with, we will only retain your personal data for an appropriate period of time based on the type of personal data, and the purposes for which we hold that information.
By default, any personal data you provide us will be held by us for a maximum period of up to 7 years from the date of cessation of our relationship with you. We may retain your personal data after this time if we are required to do so to comply with the law, if there are outstanding claims or complaints that will reasonably require your personal data to be retained, or for regulatory or technical reasons. If we do, we will continue to make sure your privacy is protected.
12. Your rights
You can ask us not to use your data for marketing. You can do this by contacting us at any time at: firstname.lastname@example.org
You have the right to:
- request access to, deletion of or correction of, your personal data held by us at no cost to you;
- request that your personal data be transferred to another person (data portability);
- be informed of what data processing is taking place;
- restrict processing;
- to object to processing of your personal data; and
- complain to a supervisory authority.
You also have rights with respect to automated decision-making and profiling. If we use personal data for the purposes of automated decision-making and those decisions have a legal (or similarly significant effect) on you, and subject to certain limitations, you have the right to challenge such decisions.
To enforce any of the foregoing rights or if you have any other questions about our site or this privacy notice, please contact us at: email@example.com
13. Links to other sites
Please note that our terms and conditions and our policies will not apply to other websites that you get to via a link from our site. We have no control over how your data is collected, stored or used by other websites and we advise you to check the privacy policies of any such websites before providing any data to them.
This Privacy Notice may be updated from time to time. Where we maintain a relationship with you, we will endeavour to send you the updated Privacy Notice by email.