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PRIVACY POLICY

How we use your personal data

Effective Date: 1st January 2025

Banqzen (“we,” “us,” or “our”) values your privacy and is committed to protecting your personal data. This Privacy Policy explains how we collect, use, and safeguard your information in compliance with European Union (EU) data protection laws, including the General Data Protection Regulation (GDPR).

1. Data Controller

The data controller for your personal data is:

Banqzen
Suite 32, 2nd Floor,
The Mall,
Beacon Court,
Sandyford,, Dublin, Ireland
D18 AYF3

2. Data We Collect

We may collect and process the following types of personal data:

  • Identification Information: Name, address, date of birth, nationality, and government-issued identification (e.g., passport or ID card).

  • Contact Information: Email address, phone number, and postal address.

  • Financial Information: Bank account details, transaction history, and payment card information.

  • Usage Data: Information about your use of our website, mobile app, and services (e.g., IP address, browser type, and activity logs).

  • Special Categories of Data: When necessary, and only with your explicit consent, we may process data such as biometric information or data revealing political opinions for specific regulatory compliance purposes.

3. How We Use Your Data

We process personal data for the following purposes:

  • To provide and manage our services, including processing payments and electronic money transfers.

  • To comply with legal and regulatory requirements (e.g., Anti-Money Laundering (AML) and Know Your Customer (KYC) obligations).

  • To improve and personalize your experience on our platform.

  • To communicate with you about your account, transactions, and updates.

  • To prevent fraud, unauthorized access, and other security threats.

  • For marketing purposes, with your explicit consent.

4. Legal Bases for Processing

We process your data under the following legal bases:

  • Performance of a Contract: When processing is necessary to provide our services.

  • Legal Obligation: To comply with applicable laws and regulations.

  • Consent: Where you have provided explicit consent for specific purposes (e.g., marketing).

  • Legitimate Interests: To improve our services, prevent fraud, and ensure security.

5. Data Sharing and Transfers

We may share your personal data with:

  • Service Providers: Third-party vendors providing services such as IT support, payment processing, and identity verification.

  • Regulatory Authorities: To comply with legal obligations and respond to lawful requests from authorities.

  • Affiliates and Partners: For joint service offerings, with appropriate safeguards.

  • International Transfers: Your data may be transferred outside the European Economic Area (EEA). When such transfers occur, we ensure that appropriate safeguards (e.g., EU Standard Contractual Clauses) are in place.

6. Data Retention

We retain personal data for as long as necessary to fulfill the purposes for which it was collected, including compliance with legal, tax, and regulatory requirements. Retention periods include:

  • Transaction Data: Minimum of 5 years from the date of the transaction, as required by AML regulations.

  • Marketing Data: Retained until you withdraw consent.

7. Your Rights

Under the GDPR, you have the following rights:

  • Access: Request access to your personal data.

  • Rectification: Request correction of inaccurate or incomplete data.

  • Erasure: Request deletion of your personal data (“right to be forgotten”).

  • Restriction: Request restriction of processing under certain conditions.

  • Data Portability: Receive your personal data in a structured, commonly used format.

  • Objection: Object to processing based on legitimate interests or for direct marketing.

  • Withdrawal of Consent: Withdraw consent where processing is based on consent.

To exercise your rights, please contact us at [Insert Contact Email]. You also have the right to lodge a complaint with a supervisory authority in your country.

8. Data Security

We implement robust security measures to protect your data, including:

  • Encryption of data during transmission and storage.

  • Access controls and regular security audits.

  • Secure server and network infrastructure.

Despite our efforts, no system can guarantee absolute security. We encourage you to use strong passwords and safeguard your account credentials.

9. Cookies and Tracking Technologies

Our website and app use cookies to improve functionality and enhance your experience. For detailed information on our use of cookies, please refer to our [Cookie Policy].

10. Changes to This Policy

We may update this Privacy Policy to reflect changes in our practices or legal requirements. Any updates will be posted on this page, and significant changes will be communicated to you directly.