We are committed to putting you in control of your privacy, whilst maintaining our primary responsibility to ensure the RateSetter platform is a secure way to borrow and invest money. These responsibilities extend to fraud, money laundering and other crime prevention; to careful credit assessment using manual and automated data collection; and to validating the identity of all users of RateSetter.
This policy outlines what data we collect and how we use it. 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].
We may collect and process data about you and your interaction with us. This will include any information provided to us by you, obtained from any third party or generated through your use of our services and/or 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 change to your information.
Data can be collected and processed throughout your interaction with us, whether you are using our service through the RateSetter website or through a partner platform or website. For example:
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, assess your creditworthiness and to detect fraud, money laundering or other crime. Any agencies searched will keep a record of our search, which will be seen by other organisations making searches in future.
If you proceed to take out a loan, details about you and your payment record will be reported to CRAs and may be used to help make credit and insurance related decisions about you and members of your household and occasionally for fraud prevention or to trace debtors. If you default or if there is any suspicious activity on your account, we may conduct further searches with CRAs during the currency of your agreement with us.
If you register to lend through our platform, we will conduct searches with CRAs to verify your identity and bank account details. We may also undertake checks for the prevention and detection of crime, fraud and/or money laundering.
If we decline your application for credit or to lend on the basis of information provided by a CRA, although we are not obliged to provide you with our reasons for the decision, 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.
RateSetter 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. Examples of where it may be necessary include:
In cases where you are making an application 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 TLS 1.2, TLS 1.1 and TLS 1.0. You can tell that this is the case because the web site address begins with HTTPS. Our websites and databases are hosted in a secure data centre which operates firewalls and other security mechanisms which are maintained and monitored to industry standards.
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 do so securely.
Under the Data Protection Act, you have the right to access any information RateSetter holds about you. You can do so by making a “Subject Access Request” to us by e-mail to [email protected] or by writing to us at the address detailed on our website. You may be asked to pay a fee of up to £10 to cover our costs and your request may take up to 28 days to fully process.
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 communications. If you opt out, you will still receive service information about your account but will not receiving notices of any special promotions or new products.
Hopefully you'll find answers to your questions in our FAQ section.
Still need help? That's fine. Just call us on 0203 142 6226 or email [email protected]
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