Privacy Policy

Last Updated: January 2025

Introduction

BanksBee Bank is deeply committed to safeguarding the privacy of its site visitors, users, and customers. As such, we ensure that their personal information and confidential data are stored securely. This notice is applicable to BanksBee Bank, a trading name of ALJ Holding SA, a Switzerland company having its registered office at Avenue Industrielle 12, 1227 Carouge GE, Switzerland.

This Privacy Policy is designed to help you comprehend the data we gather, the reasons for its collection, and how BanksBee Bank utilizes your information. The data collected is employed to understand our customers' behavior and their eligibility for BanksBee Bank's products and services, enabling us to offer an enhanced service to our clientele.

From the moment you access the BanksBee Bank website or services, you signify your agreement to our Privacy Policy. It is your responsibility to read, understand, and consent to the terms outlined in this document and to the use of your data as described herein. For any inquiries or concerns regarding our Privacy Policy, please contact us via our customer support channels (e.g., live chat, if available, on https://alpenblack.com/) and kindly refrain from using our website or services until your concerns are addressed.

Please note that while this Privacy Policy details our approach to your personal data, you may possess different rights under the data protection legislation applicable to you (for instance, for UK customers, the Data Protection Act 2018, and for EEA customers, the General Data Protection Regulation (EU) 2016/679 (GDPR), as well as any other legislation relevant to BanksBee Bank's services in the pertinent jurisdiction).

1. Information We Collect from You

We gather your personal information and Confidential Information to provide you with improved and more relevant services. When you register for your BanksBee Bank Account, you furnish us with personal information, which may include, but is not limited to, your name, email address, date of birth, credit/debit card details, and bank account information.

1.1. Registration Information
We collect information when you establish your BanksBee Bank account. Depending on your intended use of the account, we may request that you provide some or all of the following: Credit or Debit card number, bank account number, relevant expiration dates, phone number, date of birth, ID document number, photographs of your ID, a photograph of the individual registering, video recording of the individual registering, phone number, industry type, the purpose of your Account, and transaction information. Similar documentation may be requested from the individual representative of a registering legal entity. We may also ask for additional information as part of our verification and ongoing due diligence processes.

1.2. Additional Information
We might request further details or ask you to answer additional questions to verify your information. We may also acquire supplementary information about you from third parties, including third-party partners. This encompasses information regarding your behavior, bank accounts, or payment methods issued by third-party financial institutions that are linked to your BanksBee Bank products. We also collect data concerning which sections of our site you visited, your browser details, your location, and the frequency of your site usage.

1.3. Transaction Information
Information about your transactions is collected and reviewed, including but not limited to: date, time, amount, devices associated with the transaction, IP address of both sender and receiver, sender's name and registration details, receiver's name and registration details, messages sent or received with the payment, device information used to facilitate the payment, and the payment instrument utilized.

1.4. Merchant Information and Confidentiality
We gather, utilize, and may disclose data pertaining to our merchant accounts. When a merchant registers for a BanksBee Bank Account, they are obliged to provide information about their business to enable us to perform relevant credit and risk assessments. This involves collecting information about the merchant's key controllers, directors, partners, and shareholders, as well as confidential information. BanksBee Bank will use your confidential information solely for the evaluation purposes stated in the Terms and Conditions and this Privacy Policy, and not for any other commercial or operational purpose, nor in connection with any similar project it undertakes, nor in any manner detrimental to you, your affiliates, or your respective representatives. In addition to these specific duties, BanksBee Bank shall protect and safeguard your confidential information with at least the same degree of care it employs to protect its own confidential information.

By accepting the Terms and Conditions and this Privacy Policy, you also agree that you shall not use or disclose BanksBee Bank's confidential information in any manner other than how BanksBee Bank uses or discloses Your confidential information. This information is used to verify our merchants and their key controllers. This includes validating certain data provided by our merchants and reviewing their eligibility to use our products and services. Third-party partners may be engaged to validate the information you provide during account registration. BanksBee Bank reserves the right to periodically review merchant accounts. This may entail requesting a credit reference from a credit or fraud prevention agency for any merchant account. As part of this review, BanksBee Bank reserves the right to close an account based on the information obtained. For different types of merchant accounts, we may collect information about a merchant's business operations and online presence to assess a merchant's size, customer base, and anticipated transactional activity.

1.5. Maintaining Updated Information
In addition to the information supplied upon your account registration, we also collect information we receive from you as a consequence of your use of our services. This enables us to periodically verify your identity and also to analyze your behavior to provide you with superior customer service. The information collected includes, but is not limited to: Log-in details, location information, device information, transaction information, third-party information, identity information, and cookies.

2. Usage of Personal Information and Duration

Registration information is utilized to verify your identity. This includes validating certain data provided by you and assessing your eligibility to use our products and services. We use the information we collect about you to deliver the products we offer, to inform you about changes to our products, and to enhance our products. Transactional information is retained to ensure our service levels are maintained and also for regulatory compliance. This includes checks related to Anti-Money Laundering (AML), Know Your Client (KYC), Politically Exposed Persons (PEP) policies, and any other checks BanksBee Bank is obligated to conduct based on the venue and category of the services provided. Unless otherwise specified in this Privacy Policy or if a regulatory or legal requirement exists, BanksBee Bank will delete Your personal information when Your relationship with BanksBee Bank concludes.

2.1. Internal Use
We reserve the right to obtain and use your personal information and confidential information. By Browse our site, you provide your explicit or implied consent for us to collect, retain, and use your information. The examples below define some instances in which we may use your information:

  • to develop a more user-friendly site with tailored usability.
  • to provide you with customized information regarding our products and services;
  • to analyze customer support interactions to improve our services;
  • to offer you special features and promotions based on your requirements; and,
  • to ensure your continued eligibility for our products and services.

This information is shared only with our internal stakeholders on a need-to-know basis, adhering to strict data security regulations which we uphold.

2.2. Third Party Use
We may share your personal information or Confidential Information with trusted third parties to enhance our services, as permitted by data protection legislation, or in the limited circumstances detailed below. These third parties are restricted by law or by contract from using the information for secondary purposes beyond those for which the information is shared. We may share your information with trusted third parties when:

  • providing you with special features or services upon your request (including secure banking portals or similar functionalities);
  • responding to a subpoena, warrant, court order, or as otherwise required by law;
  • conducting or co-operating in investigations of fraud or other illegal activity where we believe it is reasonable and appropriate to do so;
  • interacting with our approved business service partners who are bound by contractual and legal regulations concerning how they are permitted to handle your data; and,
  • gathering your IP address, browser type, and access times to improve our site.

In the event of a merger with another company or any rebranding, the new company or brand would gain access to the personal information you provided. The current Privacy Policy would continue to apply, unless amended or otherwise stated.

3. Information Disclosure

You consent to our collection, use, and disclosure of the personal information and Confidential Information you have provided, as outlined below. We may disclose your information:

  • To other members within the group structure in which BanksBee Bank is established for the purposes described in this Privacy Policy, including cross-border transfers outside of the EEA, wherever members of the group are located. In the event of a cross-border data transfer, BanksBee Bank is committed to providing appropriate protection for your information and meeting the highest standards of data protection required.
  • To trusted third-party partners to validate the information you provided upon registration of your account. We may also provide other relevant data necessary to confirm your eligibility for the use of specific products and services offered by us.
  • To third-party service and technology providers for the purposes of understanding our customers' behavior, improving our services, and verifying your identity. This may involve the transfer of your information cross-border, outside of the EEA. It will only be transferred to third parties who have agreed to protect and handle your data with the same standards expected at BanksBee Bank.
  • As we deem necessary or appropriate under applicable law in order to: respond to police or government requests both within and outside your country of residence; comply with legal processes; enforce our terms and conditions; protect our operations and those within our group structure; pursue or limit damages that we may sustain; and protect the rights, privacy, or safety of BanksBee Bank or members within our group structure.

4. Cookies

We use cookies on our site to collect and store certain information when you access BanksBee Bank. Cookies are small text files that may enable us to learn some additional information about you. The information provided by cookies may indicate if you have previously visited our site, if you are using the same computer, if you have previously contacted us for support, if you prefer a specific browser, or if you have particular preferences when using BanksBee Bank services.

5. Your Rights

It is your right to have access to all the personal information we hold about you and concerning your use of our site and services. Where applicable, you may have certain rights under data protection legislation, including the right to access, correct, update, or request deletion of your personal information; object to or restrict its processing; request the transfer of certain of your personal information to another service provider (so-called data portability); or to withdraw any consent you have previously given.

6. Legal Basis for Processing

We will process your personal information only when we have one of the following legitimate grounds:

  • On the basis of your consent, for example, to send you marketing messages to the extent that consent is required by law;
  • Where necessary to enter into a contract with you and to perform our obligations under that contract;
  • Where we have a legitimate interest, subject to such processing not overriding your own rights and freedoms;
  • Where we have a legal obligation to collect your personal information or otherwise need your Personal Information to protect your vital interests or those of another person; or
  • Exceptionally, when necessary in the public interest, for example, when law enforcement agencies request information to investigate a crime.

7. Contacting Us

To contact us regarding any questions you may have about our Privacy Policy, please reach out to our customer support team via our designated channels (e.g., chat on our website) or contact your Account Manager, if applicable.

8. Definitions

Please refer to our Terms and Conditions for the definitions of capitalized terms referred to in this Privacy Policy.

9. Updates and Amendments

We reserve the right to amend this Privacy Policy at any time and for any reason. Any variation will not diminish your rights under this Privacy Policy without your explicit consent. All changes will be posted on our site, and you may be asked to re-confirm your consent to the terms of this Privacy Policy. If the amendments are significant, we may notify you directly. For reference purposes, we will retain prior versions of our Privacy Policy.

Back to Home