Welcome to the privacy notice of KMB Money..
Trust and security are a big part of what makes KMB the best way to send money internationally.
Your privacy is very important to us, so we’d like to tell you what we do to keep your data safe and secure.
In this policy, we explain how KMB collects, manages, uses and protects your data.
KMB is a physical and online money transfer service with the mission to make international money transfer easier, faster and cheaper.
The term “Service” refers to money transfers enabled from our website or mobile app.
In the language of data protection regulation, KMB is the “data controller” of your personal data and you, our customer, are the “data subject”. This means that KMB determines the purposes and means of processing your personal data, while respecting rights concerning your privacy.
Like most companies, we collect various types of data about our customers. Some of it may be considered personal data, which means data that make you identifiable as an individual.
As a regulated financial institution, we are bound by the legal requirement to collect, verify and record certain data about you or recipients of your transactions. All types of data we gather may be used to prevent or detect crime.
We may collect and use the following data:
Basic personal data, such as (but not limited to):
This data is necessary for KMB to provide the Service to you. We will request this data when you sign up, before the Service is provided.
Data for ‘Know Your Customer’ (KYC) regulations, such as (but not limited to):
KMB collects this data only when you provide the relevant permission to social media sites.
Technical data, such as (but not limited to):
We collect your data to personalise and improve our Service for you. The specific purposes for which we collect your data include:
We need to collect data in order to process your transactions. Without data such as you and your beneficiaries bank account details or full name and address, we would be unable to transfer money for you.
As regulated financial institutions, both KMB and our partners are required to conduct Know Your Customer (KYC) and Customer Due Diligence (CDD) checks to comply with our legal and regulatory requirements.
These include our requirements under Anti Money Laundering (AML) and Counter Terrorist Financing (CTF) legislation. All of this helps us keep our Service safe and secure.
We may process your personal data to provide you with certain types of marketing communication that we believe will be relevant and of interest to you. This helps us provide you with a more personalised Service. This kind of activity is permitted by our ‘legitimate interest’ (for more information on legitimate interest, please see Section 8 of this Policy). We will always endeavour to make these communications relevant and unintrusive, and you are able to object to marketing communication from us at any time.
We may collect and analyse data such as website or app visit logs in order to improve the quality of our Service.
You do not have to disclose any of the above data to us. However, if you choose to withhold certain data, we may not be able to provide you with our Service.
All the data that you provide to us is encrypted on our secure servers. We restrict access to your data to specific employees of KMB who have an important business-related reason for handling it.
Depending on what purpose your data is used for, the length of time we keep it may vary. Either way, we will only hold your data as long as necessary to serve the purpose it is used for.
We are legally required to keep the data obtained for Know Your Customer (KYC), Customer Due Diligence (CDD) and security purposes (including transaction records and our communications with you) for at least five years after the most recent transaction.
When the five years’ retention period and/or legitimate interest no longer apply, we will remove your data from our system. For more information on legitimate interest, please see Section 8 of this Policy.
In situations where you give us specific consent to process certain kinds of data, you are able to withdraw that consent at any time. We will then stop processing your data and, if the five years’ retention period and/or legitimate interest retention period does not apply, we will also erase your data from our system.
We may retain any data mentioned above for a longer period, if required to protect the rights, property or safety of KMB or of the Service provided by us or our partners.
We share your personal data with third parties only when it is necessary for the fulfilment of the Service or to comply with applicable laws.
We will never sell your personal data to other organisations.
We work with partners who help us to complete your transactions. If they are based outside the EEA, we will share your personal data with them only when they apply essential safeguards, or if it has been established by EU institutions that the relevant country has an appropriate data protection regime in place, or when we otherwise ensure that the appropriate level of protection is applied for data processing.
The following are some purposes for which we may share your data with third parties:
To fulfil the contract between you and KMB
We may share your data with third parties, such as our partners and intermediaries, when they are necessary for the fulfilment of the Service.
When required by law
We may share your data when required by law, for example for the purposes of security, taxation and criminal investigations.
For marketing and communication
We may share your data with third parties such as providers of customer service tools, marketing campaign tools, email communication tools, analytics software (for marketing purposes) and data visualisation tools (for analytical purposes).
If we sell or buy any business or assets, we may be obliged to share your personal data with the prospective seller or buyer.
The law gives you a number of important rights in relation to your personal data, which are listed below.
There are certain exceptions where these rights may be superseded by laws and other requirements applicable to regulated financial institutions like KMB. An example of this would be the obligatory retention period (seen Section 5), which supersedes the right to data erasure.
Your rights are:
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