Privacy Notice - Deposits Products

OakNorth Bank plc (“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. 08595042. Registered Office: 6th Floor, Nightingale House, 65 Curzon Street, London W1J 8PE. References to “You” or “Your” is to the applicant who wishes to avail any service or product of the Bank and from whom the Bank shall collect and process the personal data to provide the service and/or product, as well as to previous and current customers of the products and/or services.

 

You can contact our Business Desk:

 

  1. By writing:
    OakNorth Bank plc
    1st Floor, Alexandra Buildings
    28 Queen Street
    Manchester
    M2 5HX

  2. By calling:
    +44 (0) 330 380 1181

  3. By emailing:
    businessdesk@oaknorth.com

 

You can contact our Data Protection Officer directly by emailing: DPO@oaknorth.com

 

1. Purposes for which the personal data will be processed:

 

Before we provide services, products or financing to you, we shall collect and process your personal data to verify your identity and your nominated bank account details, and undertake checks in order to prevent fraud and financial crime. For this, we may verify the information supplied by you from the records of fraud prevention and risk management agencies. We may ask you to provide physical forms of identity verification when you apply for an account. Alternatively, we may search credit reference agency files in assessing your application. The credit reference agency also gives us other details and information from the Electoral Register to verify your identity. The credit reference 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. You must notify us immediately of any change in your name, your home address, your email address or your telephone number.

 

If you would like access to the information we use from credit reference and fraud prevention agencies or risk management agencies, please contact Experian, Cifas, Thomson Reuters or Dow Jones, in order to make a Data Subject Access Request to see the information which is recorded against your name and address. We accept no responsibility or liability for the actions of any such agencies which act as separate and independent controllers, in particular, any information which is controlled by them and used for the purpose of fraud prevention/credit checks are not governed by our Privacy Notice. You can learn more about Experian’s privacy policy here, read Cifas’ privacy notice here, read Thomson Reuters’ privacy statement here, and read Dow Jones privacy policy here. Alternatively, you can visit their website directly. In addition, if you use the Next Generation Text (NGT) Service when contacting us, you will share your information with this third party. You can learn more about NGT’s privacy policy here. To contact NGT directly to understand how they process your information, you can do that here.

 

Furthermore, we shall process your personal data for:

 

Category of Personal Data

Purpose for Processing

Processing Grounds

contact information

financial information

transactional information

identity information

historical address information

tax residency information

security information

employment status information

online identifier information

risk and/or fraud information

operating, maintaining and administering your account(s) and/or our business;

contract

providing you with the services and products you have requested

contract

preventing or detecting money laundering, fraud or any other illegal activity, carrying out electronic verification checks, and Politically Exposed Person, financial crime and Sanctions checks

legal obligation

legitimate interest

contact information

financial information

transactional information

identity information

historical address information

tax residency information

employment status information online identifier information

risk and/or fraud information

internal reporting (for business operation purposes) and external reporting (for compliance with any legal and/or regulatory obligations)

legitimate interest

legal obligation

our confidential research and analysis; (including customer surveys that are anonymised and not used for marketing)

legitimate interest

complying with any other legal and/or regulatory requirements including legitimate requests for information from law enforcement or regulatory bodies/agencies

legal obligation

legitimate interest

contact information

financial information

identity information

historical address information

tax residency information

security information

employment status information

online identifier information

pre-populating recurrent or partially completed application forms with your details should you decide to open new or consecutive account(s) with us

contract

legitimate interest

contact information

financial information

transactional information

identity information

historical address information

tax residency information

security information

risk and/or fraud information

responding to your queries and communicating with you about your account(s) and the services you have received

contract

contact information

financial information

transactional information

identity information

historical address information

tax residency information

employment status information

risk and/or fraud information

general record keeping requirements as stipulated by laws, regulations, and/or Regulatory Authorities (e.g. Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA))

legal obligation

contact information

financial information

transactional information

identity information

tax residency information

employment status information

online identifier information

developing the products and services we provide

legitimate interest

contact information

marketing purposes (only if you have positively opted in to receive marketing from us)

consent

 

The personal data collected from you, or which we have received from third parties like the credit reference agencies may include your:

 

Information Obtained Directly from You

Category of Personal Data

Source

Requirement

Consequence of Failure to Provide

Contact Information

Financial Information

Identity Information

Tax Residency Information

You

Statutory

It would not be possible to complete an application for the requested product and/or service.

Security Information

Employment Status Information

You

Contractual

It would not be possible to complete an application for the requested product and/or service.

 

Information Obtained from Other Sources

Category of Personal Data

Source

Requirement

Consequence of Not Evaluating

Contact Information

Identity Information

Historical Address Information

Financial Information

Risk and/or Fraud Information

Credit Reference Agencies

Contractual

The identity verification process would have to be completed manually and may cause a delay in the processing of your application.

Fraud Prevention Agencies

Statutory

It would not be possible to complete an application for the requested product and/or service.

Contact Information

Identity Information

Historical Address Information

Employment Status Information

Risk and/or Fraud Information

Risk Management

Agencies

Statutory

It would not be possible to complete an application for the requested product and/or service.

Contact Information

Identity Information

Employment Status Information

Directorship Information

Shareholding Information

Companies House

Contractual

It would not be possible to complete an application for the requested product and/or service.

Online Identifier Information

Google

Contractual

This is optional and based on your explicit consent which you are not required to provide.

 

We only collect data from Companies House for business deposit accounts. We do not collect data from Companies House for individual deposit accounts.

 

Glossary of Categories of Personal Data

Category of Personal Data

Included Information

Contact Information

postal address, email address, telephone number(s)

Identity Information

title, name, nationality, gender, age, photograph, signature, electoral roll data, passport

Historical Address Information

minimum three years of address history

Employment Status Information

employed, self-employed, student, retired, other

Financial Information

nominated bank account number and sort code, existing ISA account(s) details

Transactional Information

all deposits, withdrawals, and payment history of your OakNorth account(s)

Tax Residency Information

national insurance number, foreign tax identification number(s), citizenship(s)

Risk and/or Fraud Information

information held by Fraud Prevention and Risk Management Agencies which may include information about your identity, activities, credit information, allegations or criminal convictions

Security Information

security questions and answers, online banking login credentials

Online Identifier Information

IP address, cookies

Directorship Information

directorship role of business

Shareholding Information

beneficial ownership of business

 

We will retain your personal data, that you supply in the application form and elsewhere (including identification data, product data, email correspondence, and transactional information) on paper and on computer, and/or other electronic devices for six years after the closing date of your last active account to comply with legal and regulatory obligations (including any possible fraud, financial crime and complaints investigations), to retain a reference and audit trail of any discussions, and to preserve a record of account history to facilitate a streamlined customer journey for any future new account applications. If you apply for an account, but do not fund and activate the account for any reason, the same personal data will be retained for at least three years after the closing date of your last account application for the same reasons.

 

We will retain records in accordance with our retention policy and to comply with laws and regulatory requirements. This includes retaining backups of our systems infrastructure for disaster recovering purposes and for the protection of data and collecting temporary logs of online applications to record your application progress and provide support in the case of any application issues.

 

We may monitor or record calls, emails, text messages or other communications in accordance with applicable laws. Such recording or monitoring may take place for business purposes such as quality control and training, prevention of unauthorised use of our telecommunication systems and website, ensuring effective systems operation, prevention or detection of crime, and protection of confidential information relating to the bank, including personal data of any user connected with their account(s). Call recordings may be retained for six months from the day of the call, or three years in case the call recording is part of a complaint which has been raised and may be necessary to comply with any legal and/or regulatory requirements.

 

We may process your personal data from business cards where the information was captured in a personal networking capacity as part of our business operations, relying on legitimate interest. We will ensure the processing is fair, proportionate and in line with normal business practice.

 

We may use third-party processors for our confidential research and analysis. This may include customer surveys that are anonymised and not used for marketing.

 

When you visit our website, we will set essential cookies on your device, but request your consent to set non-essential cookies. You can find out more about how we use cookies in our Cookie Policy. However, please note that we use Google Analytics who is a third-party web analysis service provided by Google Inc, which uses performance cookies and targeting cookies. The information generated by these cookies about your use of the Website (including your IP address), will be transmitted to and stored by Google Inc on servers in the United States of America. Google will use the information collected for the purpose of evaluating your use of our Website on our behalf, compiling reports on website activity and providing other services relating to activity and internet usage to us. Google will not associate your IP address with any other data held by Google. You may refuse the use of cookies by selecting the appropriate settings on your browser as described above. Furthermore, you can prevent Google’s collection and use of data (cookies and IP address) by downloading and installing the browser plug-in available under https://tools.google.com/dlpage/gaoptout?hl=en-GB. This creates an opt-out cookie which prevents the further processing of your data. For more information about Google Analytics cookies, please see Google's help pages and privacy policy. If you prevent these cookies, we cannot guarantee how the Website will perform for you.

 

We shall inform you by way of a dedicated email if our privacy notice has changed because of an update in the law or if there are changes to the nature of the processing of your personal data. We will not email you when we make minor changes (such as to correct typographical errors, or to add information about other products or services which do not affect the processing of personal data), but we shall make the updated privacy notice available on our website at all times.

 

2. Data transfers

 

We will take appropriate security measures to ensure that your personal data is protected and secured in accordance with the relevant data protection laws and regulations, including the General Data Protection Regulation (GDPR). We will only disclose information about you to third-party data processors who shall process your personal data on our behalf (like our service provider and affiliate entity, OakNorth Global Private Limited in India). We may also disclose information about you to credit reference, fraud prevention, and risk management agencies, or if we are required by law or regulation to do so. We shall ensure that our data processors shall process your data based on our instructions and have appropriate data security measures to protect personal data.

 

In some cases, we may need to transfer your information to third parties overseas including our affiliate entity: OakNorth Global Private Limited in India, i.e. outside the European Economic Area. However, we will ensure that adequate procedures and safeguards such as the European Commission Model Contract Clauses as an example, are in place to protect your personal data at all times and that the affiliate and the third parties are contractually obligated to provide an adequate level of data protection in accordance with the EU data protection laws and regulations.

 

The UK government has and is agreeing to 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. If you are a US person (US passport or US Born or US Registered address or US Taxpayer) we may be obliged to provide any required details about you and your account(s) with us to comply with the Foreign Account Tax Compliance Act (FATCA).

 

If we believe that we have tax obligations in other countries, we may disclose information about the bank directly to those tax authorities or to HM Revenue & Customs, who may share that information with other tax authorities. We may disclose information we hold about you directly to those tax authorities or to HM Revenue & Customs, who may also share that information with other tax authorities.

 

3. Impacts of processing

 

If we determine that you pose a fraud or financial crime risk (which may be based on information provided to us by a fraud prevention or risk management agency), we may refuse to provide the services and financing you have requested, or we may stop providing existing services to you. A record of any fraud or money laundering risk will be retained by us for so long as is permitted by law, and may result in others refusing to provide services, financing or employment to you.

 

If false or inaccurate information is provided and fraud is identified or suspected, we may pass information to financial and other organisations involved in fraud prevention to protect us and our customers from theft and fraud.

 

Law enforcement agencies may also access and use this information to detect, investigate and prevent crime. We may provide the law enforcement agencies with information about you or your account which we consider relevant to assist with any investigation of criminal activity.

 

As part of the processing of your personal data, decisions may be made by automated means. This means we may automatically decide that you pose a fraud or money laundering risk if:

  1. our processing reveals your behaviour to be consistent with that of known fraudsters or money launderers,

  2. is inconsistent with your previous submissions, or

  3. you appear to have deliberately hidden your true identity.

 

However, this process does not include profiling based on your employment status, tracking cookies or marketing. Rather, we use the “Identity Authenticate” service from Experian which provides an identity verification check meeting our regulatory requirements such as Anti-Money Laundering (AML), while simultaneously providing identity verification. The specific information that is authenticated is: name, date of birth, and address history. If the outcome of the identity verification check is a positive result, your application is approved automatically. If the outcome of the identity verification check is unconfirmed, we may request additional proof of identification and/or address. If the outcome of the identity verification check is an adverse result, your application will be declined automatically.

 

4. Your rights

                             

Your personal data is protected by legal rights (where applicable), and may include:

  1. The right to be informed

    • The right to be informed encompasses our obligation to provide ‘fair processing information’ through a privacy notice. It emphasises the need for transparency over how we use personal data.

  2. The right of access

    • You have the right to access your personal data and supplementary information. The right of access allows you to be aware of and verify the lawfulness of the processing of your personal data. The right of access allows you to submit a Data Subject Access Request (DSAR) for a copy of the personal data that we hold about you.

  3. The right to rectification

    • The GDPR gives you the right to have personal data rectified if it is inaccurate or incomplete.

  4. The right to erasure

    • The right to erasure is also known as ‘the right to be forgotten’. The broad principle underpinning this right is to enable you to request the deletion or removal of personal data where there is no compelling reason for its continued processing. The right to erasure does not provide an absolute ‘right to be forgotten’. You have a right to have personal data erased and to prevent processing in specific circumstances, such as:

      1. Where the personal data is no longer necessary in relation to the purpose for which it was originally collected/processed.

      2. When you withdraw consent where consent is based on the points below, without affecting the lawfulness of processing based on consent before such withdrawal.

        1. Where you have given consent to the processing of your personal data for one or more specific purposes; or

        2. Where you have given explicit consent to the processing of personal data revealing racial or ethnic origin, political opinions, religious or philosophical beliefs, or trade union membership, and the processing of genetic data, biometric data for the purpose of uniquely identifying a natural person, data concerning health or data concerning a natural person's sex life or sexual orientation for one or more specified purposes, except where Union or UK law provide that the prohibition may not be lifted by the data subject.

          For example, if you provided consent to direct email marketing, you have the right to withdraw this consent.

      3. When you object to the processing and there is no overriding legitimate interest for continuing the processing.

      4. The personal data was unlawfully processed.

      5. The personal data has to be erased in order to comply with a legal obligation.

      6. The personal data is processed in relation to the offer of information society services to a child.

  5. The right to restrict processing

    • You have the right to ‘block’ or suppress processing of personal data, which will make it restricted, and permit us to store the personal data, but not to further process it. We would retain just enough information about you to ensure that the restriction is respected in future. We will be required to restrict the processing of your personal data in the following circumstances:

      1. Where you contest the accuracy of your personal data. We will restrict the processing until we have verified the accuracy of the personal data.

      2. Where you have objected to the processing (where it was necessary for the performance of a public interest task or purpose of legitimate interests), and we are considering whether our legitimate grounds override those of the individual.

      3. When processing is unlawful and you oppose erasure and request restriction instead.

      4. If we no longer need the personal data but you require the data to establish, exercise or defend a legal claim.

    • We must inform you when we decide to lift a restriction on processing.

  6. The right to data portability

    • The right to data portability allows you to obtain and reuse your personal data for your own purposes across different services. It allows you to move, copy or transfer personal data easily from one IT environment to another in a safe and secure way, without hindrance to usability. The right to data portability only applies to personal data you provided to us, where the processing is based on your consent or for the performance of a contract; and when processing is carried out by automated means.

  7. The right to object

    • You have the right to object to processing based on legitimate interests or the performance of a task in the public interest/exercise of official authority (including profiling); direct marketing (including profiling); and processing for purposes of scientific/historical research and statistics. You must have an objection on “grounds relating to your particular situation” if processing is based on performance of a legal task, our legitimate interests, or research purposes.

  8. The right in relation to automated decision making and profiling

    • Article 22 of the GDPR has additional rules to protect you if we are carrying out solely automated decision-making that has legal or similarly significant effects on you. We will only carry out this type of decision-making where the decision is: necessary for the entry into or performance of a contract, authorised by Union or UK law applicable to us, or based on your explicit consent.

 

For more information or to exercise your data protection rights, please contact our Business Desk using the contact details above.

 

If you have a complaint about how we have used your information, you should contact our Business Desk using the contact details above 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), which regulates the processing of personal data. Information on how to report a complaint to the ICO can be found on their website; www.ico.org.uk or by calling them on 0303 123 1113.