Updated July 10th, 2019
our commitment to privacy
information we collect
Information You Provide Us
Customer Information: When you sign up to create a Banq account, you provide us with information about yourself, including:
- Email Address
- Phone Number
- Social Security Number
- Date of Birth
If you sign up as an entity (e.g. a company, partnership, trust, etc), you may also need to provide us with pertinent information about your entity, including:
- Entity Name
- Employer Identification
- Email Address
- Phone Number
- Entity documents
If you create an account with another person, you may need to provide the above information about that person as well. We aren’t being nosy, this is required for compliance with Bank Secrecy Act, including FinCEN, responsibilities. See more detail in the “how we use your information” section of this Policy.
In order to connect your account to other bank accounts or credit and debit cards in order to process your deposits, we may collect information about your bank routing numbers, bank account numbers, billing address, or credit or debit card. If you make a deposit using a credit or debit card through the Services, the card-specific information will be maintained by a third-party merchant bank payment processor and not by us.
INFORMATION WE COLLECT AUTOMATICALLY FROM YOUR USE OF THE SERVICES
HOW WE USE YOUR INFORMATION
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also need to see your driver license or other document(s).
We may also use the information we collect:
- To operate, maintain, enhance and provide features of the Services, to provide services and information that you request, to respond to comments and questions, and otherwise to provide support to users.
- To understand and analyze the usage trends and preferences of our users, to improve the Services, and to develop new products, services, features, and functionality.
- To contact you for administrative and informational purposes, and to contact individuals whom you invite to join the service or contribute to a trust. This may include providing customer service or sending communications, including changes to our terms, conditions, and policies, invitations to join the service, or requests to contribute to a trust.
- For marketing purposes, such as developing and providing promotional and advertising materials that we think may be useful, relevant, valuable or otherwise of interest to you.
- To personalize your experience on the Services by presenting products and offers tailored to you.
- We may aggregate data collected through the Services and may use and disclose non-personally identifiable metrics for any purpose.
- For our business purposes, such as audits, security, compliance with applicable laws and regulations, fraud monitoring and prevention.
- To enforce our Terms of Service or other legal rights.
HOW WE SHARE YOUR INFORMATION
We disclose information that we collect through the Services to third parties in the following circumstances:
- To our third-party service providers who provide services such as website hosting, payment processing, data analysis, information technology and related infrastructure provision, customer service, email delivery, online advertising, auditing, and other services.
- We may publicly display comments and testimonials we receive from users. If you write a comment, send us an email, or other communication, we may edit it in our discretion and use it, with or without your name or other attribution, anywhere we desire, including, but not limited to, our website(s), press releases, newsletters and marketing material.
- To a potential or actual acquirer, successor, or assignee as part of any reorganization, merger, sale, joint venture, assignment, transfer or other disposition of all or any portion of our business, assets or stock (including in bankruptcy or similar proceedings).
- If required to do so by law or in the good faith belief that such action is appropriate: (a) under applicable law, including laws outside your country of residence; (b) to comply with legal process; (c) to respond to requests from public and government authorities, including public and government authorities outside your country of residence; (d) to enforce our terms and conditions; (e) to protect our operations or those of any of our affiliates; (f) to protect our rights, privacy, safety or property, and/or that of our affiliates, you or others; and (g) to allow us to pursue available remedies or limit the damages that we may sustain.
- We may use and disclose aggregate information that does not identify or otherwise relate to an individual for any purpose, unless we are prohibited from doing so under applicable law.
THIRD PARTY SERVICES
We use certain physical, organizational, and technical safeguards that are designed to maintain the integrity and security of information that we collect. Please be aware that no security measures are perfect or impenetrable and thus we cannot and do not guarantee the security of your data. It is important that you maintain the security and control of your account credentials, and not share your password, computer or mobile device with anyone.
USE OF SERVICES BY MINORS
The Services are not directed to individuals under the age of eighteen (18), and we request that they not provide personal information through the Services.
INTERNATIONAL CROSS-BORDER DATA TRANSFER
Banq uses servers hosted in the United States. Please note that if you reside or are located outside of the United States then you will be transferring your information outside of your region for storage and processing in the United States, and by using the Services you consent to the transfer of information to countries outside of your country of residence, which may have data protection rules that are different from those of the United States.