This document contains important information about some of our key responsibilities. These include: protecting against fraud and money laundering and ensuring we comply with other crime prevention measures. We are also committed to careful credit assessment, using manual and automated data collection; and to checking the identity of all users of the RateSetter platform.
This policy applies to information we collect about:
If you have any questions about this policy or about the use of your data, please feel free to contact us by telephoning on 020 3142 6226 or e-mailing us at [email protected].
In order for us to be able to offer a full range of services and products, we may collect and process data about you and how you communicate and interact with us. This will include any information: provided to us by you, from other sources (such as a third party credit reference agency) or generated through your use of our services and/or the RateSetter platform. The type of information collected may include:
You are responsible for providing accurate and up-to-date information to us and for informing us of any changes to your details.
We gather information about you so that we can provide the services and products that you may request from us. Data can be collected throughout your interaction with us, whether you are using our service through the RateSetter website or through a partner platform or website. For example:
We may monitor and record communications with you (such as telephone calls and emails) for quality assurance, training, fraud prevention and compliance purposes.
If you make an application for credit or request a loan quote, we will search your records at credit reference and fraud prevention agencies (“CRAs”). We will use the information recorded to confirm your identity, check your creditworthiness and to detect fraud, money laundering or any other relevant crime. Any agencies that we search will keep a record of our search, which will be seen by other organisations making searches in future.
In order to prevent or detect fraud, we will share the information:
with fraud prevention agencies.
If you give us false or inaccurate information, and fraud is identified, we will pass these details to fraud prevention agencies to protect against fraud and money laundering.
If you take out a loan with us, your details and your payment record will be reported to CRAs. This information may then be used to help make credit and insurance related decisions about you and members of your household. Occasionally the information may be used for fraud prevention or to trace debtors. If you default or if there is any suspicious activity on your account, we may carry out additional searches with CRAs.
We may share information (both within the UK and, where appropriate, overseas) with credit reference, debt recovery, fraud prevention and law enforcement agencies, and other relevant organisations including other lenders. For the purposes of meeting our legal obligations, recovering debt, preventing crime, verifying your identity and carrying out retrospective analysis of loan applicants to enable us to make better informed and responsible decision making.
If you register to lend through the RateSetter platform, we will conduct searches with CRAs to verify your identity and bank account details. Your information may be used so that we can comply with applicable laws, including: anti-money laundering laws; anti-terrorism laws and regulations; and fighting crime and terrorism.
This may mean that we have to share your information with UK or overseas governmental or regulatory authorities or with other similar bodies.
If we decline your application for credit or decide not to lend to you because of information provided by a CRA, you have the right to know the details of which CRA was used. You can then contact the CRA to request a copy of information held on your file. Please be aware that we do not have to provide you with our reasons for a decision not to lend to you.
We may and other organisations may access and use the information recorded by fraud prevention agencies both in the UK and overseas.
If you require details of the credit reference agencies and fraud prevention agencies we use, please contact us on [email protected].
We do not sell or share your data with third parties unless we have your consent to do so or it is necessary for the operation and management of our business and your account. For example, we may need to share your information:
If you apply for credit and we decline your application, we will give you the option to allow us to pass your details to one of our partners who may be able to help. If you consent and we do pass your details on to one of our partners, we will be acting as a credit broker in doing so and may receive a commission from the partner if your application with them is successful.
All data sent from your browser to our websites is encrypted using industry standard SSL. You can tell that this is the case because the web site address begins with HTTPS. Our websites and databases are built using modern technology and are hosted in multiple high security data centres based in the EU. We use firewalls and many other security mechanisms to keep your data safe, which are maintained and monitored by our staff 24/7.
We also have strict policies and technical barriers in place to prevent unauthorized employee access to customer data, which are monitored and audited.
We regularly verify the security of our systems by independent third-party testing. Access to your account is through a password protected mechanism, and you can choose to increase this level of security by using a PIN number sent to your mobile phone. Data is backed up regularly to a secure location and is fully encrypted. We may transfer your personal information abroad to countries whose data protection laws are less strict, and less protective of your rights than in the UK, but we will always take steps to ensure we do so securely.
We will use all reasonable efforts to safeguard your personal data, you should be aware that the use of the internet is not entirely secure and therefore we cannot guarantee the security or integrity of any personal information that is transferred from you or to you via the internet.
You have the right to request a copy of any information we hold about you. If you would like a copy of all or some of the information we have, please contact us by e-mailing: [email protected] or by writing to us at the address detailed on our website. You may be asked to pay a small administration fee of up to £10 to cover our costs and your request may take up to 28 days to fully process.
By submitting your personal information to us, you consent for us to use that information as set out in this policy.
We may get in touch from time to time with information about special promotions, new products or any other service we think may be of interest to you.
If you decide you don`t want to receive this sort of information from us, you can “opt out” from receiving marketing communications from us by contacting us at [email protected] or by using the ‘Unsubscribe’ link displayed on any marketing email communications or by reviewing your contact preferences in your RateSetter account. If you opt out, you will still receive service information about your account but will get any notices of any special promotions or new products that we might be offering.
See our Cookies policy, for further information on Cookies and how we use them.
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