How we use your personal information

OakNorth Bank Limited (“We”, “us”, “our” or “Bank”) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 629564). Registered in England No. 8595042.

OakNorth Bank will take all reasonable commercial measures in ensuring your information is protected and secured in accordance with all relevant laws and regulatory standards, and in order for us to hold and process your information, you consent to us that:

  1. Information about you (including transactional information) that you supply in the application form and elsewhere, and which we otherwise obtain, may be held by us on paper and on computer, and/or other electronic information about you, may be kept by us and held even after your Accounts are closed in order to comply with our legal obligations or business record requirements.

  2. Information we hold about you may be used for:

    1. managing your Accounts and/or our business;

    2. preventing or detecting fraud, or any other illegal activity;

    3. for our confidential research and analysis;

    4. to develop the products and services we provide, and

    5. for marketing purposes.

  3. We may make searches of the records of fraud prevention agencies with information you may supply us with.

  4. We may pass information to financial and other organisations involved in fraud prevention to protect us and our customers from theft and fraud.

  5. If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies. Law enforcement agencies may access and use this information. We and other organisations may also access and use this information to prevent fraud and money laundering; for example:

    1. when checking details on applications for retail and commercial customers for deposit products

    2. checking details on applications for credit and credit related facilities

    3. for managing deposit accounts in life

    4. managing credit and credit related accounts or facilities

    5. recovering any debt as applicable

    6. checking details on proposals and claims for all types of insurance

    7. checking details of job applicants and employees

  6. If you wish to receive details of the relevant fraud prevention agencies these can be requested by contacting us. We and other organisations may access and use the information recorded by fraud prevention agencies from other countries.

  7. If your loan accounts become overdrawn or in arrears, this may be disclosed to credit reference agencies and you understand that they may keep a record of the information, which may be disclosed to third parties.

  8. We will not disclose information about you to anyone else (other than agents or third parties performing any of the above activities on our behalf) unless we are required by law to do so.

  9. Any personal data you provide to us will be held and processed by us at all times in accordance with the Data Protection Act 1998 (the Act).

  10. We may also use selected third parties to process your information and provide services on our behalf and in some cases we may need to transfer your information to countries both within and outside the European Economic Area. Where we do this, we will ensure that adequate procedures and safeguards are put in place to protect your personal data at all times and anyone to whom we pass the information provides an adequate level of data protection in accordance with the Act.

  11. We may ask you to provide physical forms of identity verification when you open your account. Alternatively, we may search credit reference agency files in assessing your application. The agency also gives us other details and information from the Electoral Register to verify your identity. The agency keeps a record of our search, and whether or not your application proceeds. Our search is not seen or used by lenders to assess your ability to obtain credit.

  12. You have a right to request a copy of your personal data that we hold about you. This may be obtained by writing to our Customer Services team. In doing so, please also note:

    1. a fee may be payable to meet our costs in providing you with the information we hold about you;

    2. you have the right to ask us to rectify any inaccuracies in your information by writing to our Customer Services team.

  13. If you have a complaint about how we have used your information, you should contact our Customer Services team so that we can assist you in dealing with your complaint, however, you also have the right to complain to the Information Commissioner’s Office (ICO). Information on how to report a complaint to the ICO can be found on their website; or by calling them on 0303 123 1113.

  14. The UK government has and is agreeing inter-governmental agreements to share tax information. We ask for details of your tax residency and in some cases tax reference numbers to enable us to comply with the related UK legislation.