This policy is a template prepared for launch. Items in [square brackets] must be completed and the document reviewed by your legal or compliance team before the site goes live.
Who we are
BankWells is operated by BankWells LTD (“BankWells”, “we”, “us”), registered in the United Kingdom under company number 8239912, with its registered office at 162a Clapton Common, London, England, E5 9AG. We are the controller of the personal information described in this policy.
If you have any questions about this policy or how we handle your information, contact our data protection team at support@BankWells.com.
Information we collect
Information you give us
- Identity and contact details, such as your name, date of birth, address, email and phone number.
- Verification information, such as identity documents and selfies used for onboarding checks.
- Financial information, such as account details, transactions, savings goals and trading activity.
- Communications with us, including support conversations and feedback.
Information we collect automatically
- Device and usage data, such as IP address, browser type, pages visited and app interactions.
- Security signals used to detect fraud and protect your account.
- Cookie and similar technology data, as described in the Cookies section.
Information from third parties
We may receive information from identity verification providers, fraud prevention agencies, credit reference agencies, payment networks and our banking and trading partners.
How we use your information
- To open, operate and secure your account and provide the services you request.
- To verify your identity and meet anti-money laundering and other legal obligations.
- To detect, investigate and prevent fraud, financial crime and security incidents.
- To process payments, card transactions, currency exchanges and trades.
- To provide support and send you important service messages.
- To improve our products and, with your consent where required, to send marketing.
Legal bases
We rely on the following legal bases to process your information:
- Contract — to provide the services you have signed up for.
- Legal obligation — to comply with financial regulation, tax and anti-money laundering laws.
- Legitimate interests — to keep our services secure, prevent fraud and improve our products.
- Consent — for optional cookies and certain marketing. You can withdraw consent at any time.
Who we share it with
We never sell your personal information. We share it only where necessary with:
- Our banking, e-money, card issuing and trading partners: [partner names].
- Service providers who help us run BankWells, such as hosting, identity verification and customer support tools.
- Fraud prevention agencies, regulators, law enforcement and other authorities where required by law.
- Professional advisers and, in the event of a corporate transaction, a prospective buyer under confidentiality.
International transfers
Some of our providers process information outside [your jurisdiction]. Where this happens we use appropriate safeguards, such as adequacy decisions or standard contractual clauses, to protect your information.
How long we keep it
We keep your information for as long as your account is open and afterwards for as long as required by law — typically [five] years after our relationship ends for financial records. We delete or anonymise information we no longer need.
How we protect it
We use encryption in transit and at rest, strict access controls, monitoring and regular security testing. No system is completely secure, so please keep your login details and devices safe and tell us immediately if you suspect misuse.
Your rights
Depending on where you live, you may have the right to:
- Access the personal information we hold about you.
- Ask us to correct inaccurate or incomplete information.
- Ask us to delete your information where we no longer need it.
- Object to or restrict certain processing, including direct marketing.
- Receive your information in a portable format.
- Withdraw consent at any time, without affecting earlier processing.
To exercise your rights, email support@BankWells.com. You also have the right to complain to your data protection authority, [authority name].
Cookies
Cookies are small files stored on your device. We use strictly necessary cookies to run the site and, only with your consent, analytics and marketing cookies. Optional cookies are never set before you make a choice, and you can change it at any time.
| Cookie | Category | Purpose | Duration |
|---|---|---|---|
bw_consent | Strictly necessary | Remembers your cookie choices. | 180 days |
| [analytics cookie] | Analytics | [Provider] — measures how the site is used. Only set with consent. | [duration] |
| [marketing cookie] | Marketing | [Provider] — measures campaign performance. Only set with consent. | [duration] |
Changes to this policy
We may update this policy from time to time. The date at the top shows when it was last changed. If changes are significant we will let you know in the app or by email. Please also read our Terms & Conditions.
Contact us
BankWells LTD
162a Clapton Common, London, England, E5 9AG
support@BankWells.com