Polaris Bank is committed to maintaining the highest degree of confidentiality in all information provided to the Bank during your communication/contact with us. This policy relates to all information provided through our website (www.polarisbanklimited.com) and other contact channels. As a customer of Polaris Bank, you have attested to our privacy and confidentiality agreement as contained on your account opening forms. By continuing to use our website and other customer contact channels, you accept and consent to our privacy practices described in this document.
Polaris Bank Privacy Principles
Polaris Bank is committed to safeguarding the privacy of your information. By 'your information' we mean any information about you, which you or third parties provide to us.
- We will only collect and use your information where we have lawful grounds and legitimate business reasons to do so.
- We will be transparent in our dealings with you especially as it relates to your information. If we have collected your information for a particular purpose we will not use it for anything else unless you have been pre- informed and, where relevant, your permission obtained.
- We will not ask for more information than we need for the purposes for which we are collecting it.
- We will update our records when you inform us that your details have changed.
- We will continue to review and assess the quality of your information. If you are unsatisfied with the quality or correctness of any information we have about you, please call us on 0700 75932265, 0806 988 0000 or send us a mail at firstname.lastname@example.org to enable us review and correct the information.
- We will implement and adhere to information retention policies, regulations and laws applicable in Nigeria relating to your information and will ensure that your information is securely disposed of at the end of the appropriate retention period.
- We will observe the rights granted to you under the applicable privacy and data protection laws of Nigeria and will ensure that queries relating to privacy issues are promptly and transparently dealt with.
- We will ensure that we have put in place appropriate physical and technological security measures to protect your information provided to us.
- We will ensure that when we outsource any of our processes in relation to your information we would require the supplier to put in place appropriate security measures and comply with these principles on privacy we will ensure that suitable safeguards are in place before personal information is transferred to other countries, where the need arises.
Information we collect
- We collect information about you from various sources and interactions including:
- When you apply for our products and services
- When you use our websites, mobile device app, payment gateways, web chats, Automatic Teller Machines (ATM) and other electronic devices linking the bank services
- When you talk to us on the phone or in branch
- When you send us emails or letters
- When we conduct surveys or you take part in our polling or promotion activities
- When we have to seek information about your credit history from credit bureaus.
- When we conduct necessary investigations and due diligence checks for legal or regulatory obligations.
At the point of registration for the use of any of our products and services you will be required to provide some personal information such as name, photograph, identification card details, contact details (address, telephone number, email address etc.), socio-demographic information (age, marital status, occupation, nationality, education, income grouping), Biometric data (BVN) and other information required for Know-Your-Customer identification and verification purposes.
As a customer of the bank, the additional information we collect of you may include the following:
- Details of your transactions with us including account balance(s), payments to and from your account, products and services we provide to you.
- Details of the location where your transactions take place. The information may come from devices used to access the Bank’s services or the debit/credit cards used for the transactions.
- Details about how you use our products and services.
- Video footages captured on CCTV and cameras when you visit any of our branches or use our ATMs.
Certain regulations regard some personal information as sensitive or special. This includes information about Religious, political or philosophical beliefs, Trade Union membership, Genetic and Health data and sexual orientation. We will not collect or use these types of data without your consent unless the law allows us to do so.
How we use your information
Polaris Bank will only use your personal information for meeting contractual obligations and legitimate interest of the Bank when you have provided consent or same is required by law. Your personal information is used in:
- Delivering our products and services including managing your transactions
- Managing our relationship with you or your business
- Developing and carrying out marketing activities
- Studying how our customers use products and services
- Communicating with you about our products and services
- Developing new ways to meet our customers' needs and to grow our business
- Managing fees, charges and interest due on customer accounts
- Collecting and recovering money that is owed to us
- Detecting, investigating, reporting, and seeking to prevent financial crime
- Complying with applicable laws and regulations that apply to us
- Who we share information with
- To the extent permitted by applicable laws and regulations, we may share information about you with the following:
- Regulators, law enforcement and government agencies.
- Credit Bureau and referencing agencies
- Correspondent Banks
- Employees, agents, partners and service providers engaged by Polaris Bank for the purpose of providing products and services to you.
Please note that we may transfer your personal information to relevant third party in the event of reorganisation, merger or sale of parts or whole of our business.
There may also be need to transfer your details to an agent or service provider located in another country. In such event, we would use our best endeavour to ensure that they observe the same level of protection of such detail as we are required to and use your details strictly in accordance with our instructions
We engage necessary data security steps to safeguard your personal information. We apply strict physical, electronic and procedural security measured to prevent unauthorized access use, alteration, destruction of your personal data. We comply with the global standards on information security and protection. Our employees are continuously trained in handling and maintaining confidentiality of personal information. When we use other companies to provide services, we require them to abide by same standard of confidentiality of personal information they interact with.
For more information on our policy for online data storage and protection, please refer to our security online page . This page also provides a guideline on how you can protect your own information online.
How Long We Store Your Information
Your information is retained for as long as necessary for the purpose of its collection and required to be kept by the applicable laws and regulations in force from time to time in Nigeria.
- You have the right to access your personal information with us.
- You are entitled to have your personal data rectified if it is incomplete or inaccurate.
- You may request in writing that we delete, remove, restrict the use of or stop using your personal information if it is inaccurate, no longer relevant or there is no need for us to keep it.
- You have the right to request in writing for your personal data with us be transferred to another party.
There may be legal or regulatory reasons why we may need to keep or process your data even if you have asked for its deletion, removal or restriction. We may be unable to provide certain services to you if you declined the submission of required personal information for such services.
If you want to object to how we use your data, or ask us to delete it or restrict how we use it, please call us on 0700 75932265, 0806 988 0000 or send us a mail at email@example.com