CUSTOMER PRIVACY / CONFIDENTIALITY

CUSTOMER PRIVACY  /  CONFIDENTIALITY 

VBS Mutual Bank will take all reasonable measures to respect and protect the confidentiality of your personal, business and financial information.

2.         The Bank and its employees are committed to protect your privacy.

A)        PROTECTING CUSTOMER INFORMATION

Customer information refers to all information provided by customers that identify a customer – whether he/she/it is an individual or a business.  This information includes details such as name, age, ID numbers, assets, liabilities, income, contact particulars and physical address verification.

We use information provided to the Bank to assess which products and services clients are interested in, to confirm employment particulars and whether clients qualify for advances and products applied for. 

We will keep financial information confidential by requiring all employees to sign confidentiality agreements, and taking care that information supplied is stored and used in a protected manner as set out below.

Guidelines to protect information:

·         We will not collect client information without obtaining your prior consent.

·         The choice to provide us with information is the clients’ choice.

·         The type of information clients are asked to provide will be in line with the service or 
          product they require, and as may be required by legislation.

·         The information we require from customers is stored in a database, protected by 
          certain security measures..

·         We will not sell or otherwise make available customer information to other organisations 
          or parties.

·         All employees who have access to customer information are required to abide by the 
          privacy standards as noted above.  This is a condition of appointment.

B)        ONLINE APPLICATIONS:

When clients apply online for accounts or services, they provide personal information that is necessary for the Bank to process their applications.  All reasonable security measures are taken to protect all customer information collected is protected against unauthorised access.

To ensure that a client’s application remains confidential, we use a Secure Internet Hosting site for transferring data.  This technology encrypts (scrambles) your account information, so it is nearly impossible for anyone other than VBS Mutual Bank to read it.

C)        E-MAIL 

VBS Mutual Bank will retain the content of client e-mail and their e-mail address so that we can handle any queries at a later time.     

We may occasionally contact clients at their e-mail address to inform them of new services or additional benefits available to them. 

D)        SECRECY

 VBS Mutual Bank shall comply with the banker’s common law duty of secrecy with respect to client’s financial affairs, subject to any duty of disclosure that may be prescribed by any legislation from time to time. 

E)         CODE OF BANKING PRACTICE

 VBS Mutual Bank will adhere to the Code of Banking Practice as regards to Section 4.1 (on Confidentiality) as noted below:~ 

            “4.1     Confidentiality           

 4.1.1    We will treat all your personal information as private and confidential (even when you are no longer a customer).  Nothing about your accounts nor you name and address will be disclosed to anyone, including other companies in our group, other than in four exceptional cases permitted by law.  These are:

 *  where we are legally compelled to do so;

*  where it is in the public interest to disclose;

*  where our interests require disclosure;

(This will not be used as a reason for disclosing information about you or your accounts (including your name and address) to anyone else including other companies in our group for marketing purposes.)

*  where disclosure is made at your request or with your written consent.”