Privacy Policy

Find out what information we collect about you, how we protect that information and how we use it

Effective date 25 May 2018

1. Overview

Spendology Ltd ("TMC") has developed this Privacy Policy to explain how we may collect, retain, process, share and transfer your PERSONAL DATA when you visit our SITES or use our SERVICES. This Privacy Policy applies to your Personal Data when you visit Sites or use Services and does not apply to online websites or services that we do not own or control.

This Privacy Policy is designed to help you obtain information about our privacy practices and to help you understand your privacy choices when you use our Sites and Services. Please note that our Service offerings may vary by region. This Privacy Policy may be supplemented with additional notices depending on the Sites and Services concerned. Supplementary information can be found in How we use cookies and the Acceptable Use Policy.

We have defined some terms that we use throughout the Privacy Policy. You can find the meaning of a term highlighted in CAPITALS in the Definitions section (see below).

Please contact us using the details at the end of this document if you have questions about our privacy practices that are not addressed in this Privacy Policy.

2. What Personal Data Do We Collect?

We collect Personal Data about you when you visit our Sites or use our Services, including the following:

Registration and use information – When you register to use our Services by establishing a SUBSCRIPTION, we will collect Personal Data as necessary to offer and fulfil the Services you request. Depending on the Services you choose, we may require you to provide us with your name, postal address, telephone number, date of birth, gender, email address and identification information to establish a Subscription. We may require you to provide us with additional Personal Data as you use our Services.
Transaction and experience information – When you use our Services or access our Sites, for example, to order foreign currency, we collect information about the transaction, as well as other information associated with the transaction such as referral source, payment source, amount paid for products or services, Provider information, including information about any funding instruments used to complete the transaction, DEVICE INFORMATION, TECHNICAL USAGE DATA, and GEOLOCATION INFORMATION.
Participant Personal Data – When you use our Services or access our Sites, we collect Personal Data you provide us about the other participants associated with the transaction.
Personal Data about your friends and contacts – It may be easier for us to help you recommend us to your friends and contacts if you provide Personal Data such as name, email address and telephone number about your friends and contacts while using a Service or if you connect your contact list or friend list to your Subscription. If you choose to connect your contact list information on your device with your Subscription and/or establish an account connection between a social media platform and your Subscription, we will collect and use your contact list or friend list information to improve your experience when you use the Services.
Personal data that you choose to provide us to obtain additional Services or specific online Services – If you request or participate in an optional Site feature, or request enhanced Services or other elective functionality, we may collect additional information from you. We will provide you with a separate notice at the time of collection, if the use of that Personal Data differs from the uses disclosed in this Privacy Policy.
Personal Data about you if you transact as a guest – We offer a variety of subscription packages and one of these may be referred to as a "guest" subscription. For the avoidance of doubt, a "guest" subscription is the subject of this privacy policy in the same way as any other subscription package.
Personal Data about you from third-party sources – We obtain information from third-party sources such as merchants, data providers, and credit bureaus, where permitted by law.
Other information we collect related to your use of our Sites or Services – We may collect additional information from or about you when you communicate with us, contact our customer support teams or respond to a survey or offer.

3. Why Do We Retain Personal Data?

We retain Personal Data in an identifiable format for the least amount of time necessary to fulfil our legal or regulatory obligations and for our business purposes. We may retain Personal Data for longer periods than required by law if it is in our legitimate business interests and not prohibited by law. If your Subscription is terminated or cancelled, we may take steps to mask Personal Data and other information, but we reserve our ability to retain and access the data for so long as required to comply with applicable laws. We will continue to use and disclose such Personal data in accordance with this Privacy Policy.

The cookies we use have defined expiration times; unless you visit our Sites or use our Services within that time, the cookies are automatically disabled and retained data is deleted. Please consult How we use cookies for more information.

We may PROCESS your Personal Data for a variety of reasons that are justified under data protection laws in the European Economic Area (EEA) and Switzerland.

To operate the Sites and provide the Services, including to:

purchase foreign currency

authenticate your access to a Subscription

communicate with you about your Subscription, the Sites, the Services, or TMC

create an account connection between your Subscription and a third-party account or platform

perform identity checks, evaluate applications, and compare information for accuracy and verification purposes

To manage our business needs, such as monitoring, analysing, and improving the Services and the Sites' performance and functionality. For example, we analyse User behaviour and perform research about the way you use our Services.

4. How Do We Process Personal Data?

To manage risk and protect the Sites, the Services and you from fraud by verifying your identity, and helping to detect and prevent fraud and abuse of the Sites or Services.

To comply with our obligations and to enforce the terms of our Sites and Services, including to comply with all applicable laws and regulations.

For our legitimate interests, including to:

enforce the terms of our Sites and Services;

manage our everyday business needs, such as monitoring, analysing; and

anonymise Personal data in order to provide aggregated statistical data to third parties, including other businesses and members of the public, about how, when, and why Users visit our Sites and use our Services.

keep you informed about our products and services. We may also Process your Personal Data to tailor certain Services or Site experiences to better match our understanding of your interests.

help you use our Services by responding to your requests, for example to contact you about a question you submitted to our customer service team.

With your consent, including to:

provide personalised Services offered by TMC on third-party websites and online services, for example Amazon Alexa. We may use your Personal Data and other information collected in accordance with this Privacy Policy to provide a targeted display, feature or offer to you on third-party websites. We may use cookies and other tracking technologies to provide these online services and/or work with other third-parties such as advertising or analytics companies to provide these online services.

make it easier for you to find and connect with others, we may use your information you have shared with the Service to suggest connections between you and people you may know. For example, we may associate information that we learn about you through your and your contacts' use of the Services, and information you and others provide to suggest people you may know or may want to transact with through our Services. Social functionality and features designed to simplify your use of the Services with others vary by Service.

You can withdraw your consent at any time and free of charge. Please refer to the section on "Your Privacy Choices" for more information on how to do that.

5. Do We Share Personal Data?

We may share your Personal Data or other information about you with others in a variety of ways as described in this section of the Privacy Policy. We may share your Personal Data or other information for the following reasons:

With other members of the Spendology Ltd corporate family: We may share your Personal Data with members of the Spendology Ltd family of entities to, among other things, provide the Services you have requested or authorised; to manage risk; to help detect and prevent potentially illegal and fraudulent acts and other violations of our policies and agreements and to help us manage the availability and connectivity of Spendology Ltd products, Services, and communications.

With other companies that provide services to us: We share Personal Data with third-party service providers that perform services and functions at our direction and on our behalf. These third-party service providers may, for example, provide you with Services, verify your identity, assist in processing transactions, send you advertisements for our products and services, or provide customer support.

With other financial institutions that we have partnered with to jointly create and offer a product or service: We share Personal Data with other financial institutions that we have partnered with to jointly create and offer a product. These financial institutions may only use this information to market and offer TMC-related products, unless you have given consent for other uses.

With the other parties to transactions when you use the Services, such as Providers and their service providers: We may share information with the other participants to your transactions, including Providers or their service providers when you use the Services to pay for goods or services. The information includes:

Personal Data necessary to facilitate the transaction;

Personal Data to help other participant(s) resolve disputes and detect and prevent fraud; and

Anonymous data and performance analytics to help Providers better understand the uses of our Services and to help Providers enhance Users' experiences.

With other third parties for our business purposes or as permitted or required by law: We may share information about you with other parties for Spendology Ltd business purposes or as permitted or required by law, including:

if we need to do so to comply with a law, legal process or regulations;

to law enforcement authorities or other government officials, or other third parties pursuant to a subpoena, a court order or other legal process or requirement applicable to TMC or TMC's corporate family;

if we believe, in our sole discretion, that the disclosure of Personal Data is necessary or appropriate to prevent physical harm or financial loss or in connection with an investigation of suspected or actual illegal activity;

to protect the vital interests of a person;

with credit agencies and data processors for credit reference checks and anti-fraud and compliance purposes;

to investigate violations of or enforce a user agreement or other legal terms applicable to any Service;

to protect our property, Services and legal rights;

to facilitate a purchase or sale of all or part of Spendology Ltd's business;

in connection with shipping and related services for purchases made using a Service;

to help assess and manage risk and prevent fraud against us, and fraud involving our Sites or use of our Services, including fraud that occurs at or involves our business partners, strategic ventures, or other individuals and Providers;

to banking partners as required by card association rules for inclusion on their list of terminated merchants;

to credit reporting and collection agencies;

to companies that we plan to merge with or be acquired by; and

to support our audit, compliance, and corporate governance functions.

With your consent:

We also will share your Personal Data and other information with your consent or direction, including if you authorise an account connection with a third-party account or platform.

In addition, Spendology Ltd may provide aggregated statistical data to third-parties, including other businesses and members of the public, about how, when, and why Users visit our Sites and use our Services. This data will not personally identify you or provide information about your use of the Sites or Services. We do not share your Personal Data with third parties for their marketing purposes without your consent.

6. How Do We Work with Other Services and Platforms?

A significant benefit and innovation of Spendology Ltd​'s Services is that you can connect your Subscription with a third-party account or platform. For the purposes of this Privacy Policy, an "account connection" with such a third-party is a connection you authorise or enable between your Subscription and a non-Spendology Ltd account, payment instrument, or platform that you lawfully control or own. When you authorise such a connection, Spendology Ltd​ and the third-party will exchange your Personal Data and other information directly. Examples of account connections include:

linking your Account to a social media account or social messaging service;

connecting your Subscription to a third-party data aggregation or financial services company, if you provide such company with your Account log-in credentials; or

using your Subscription to make payments to a Provider or allowing a Provider to charge your Account.

If you choose to create an account connection, we may receive information from the third-party about you and your use of the third-party's service. For example, if you connect your Subscription to a social media account, we will receive Personal Data from the social media provider via the account connection. If you connect your Subscription to other financial accounts, directly or through a third-party service provider, we may have access to your account balance and transactional information, such as purchases and funds transfers. We will use all such information that we receive from a third-party via an account connection in a manner consistent with this Privacy Policy. ​

Information that we share with a third-party based on an account connection will be used and disclosed in accordance with the third-party's privacy practices. Before authorising an account connection, you should review the privacy notice of any third-party that you authorised to have an account connection that will gain access to your Personal Data as part of the account connection. For example, Personal Data that Spendology Ltd shares with a third-party account or platform such as a social media account may in turn be shared with certain other parties, including the general public, depending on the account's or platform's privacy practices.

7. International transfers

Our operations are supported by a network of computers, cloud-based servers, and other infrastructure and information technology, including, but not limited to, third-party service providers.

The parties mentioned above may be established in jurisdictions other than your own and outside the European Economic Area and Switzerland. These countries do not always afford an equivalent level of privacy protection. We have taken specific steps, in accordance with EEA data protection law, to protect your Personal Data.

If you make transactions with parties outside the EEA or Switzerland or connect our Service with platforms, such as social media, outside the EEA or Switzerland, we are required to transfer your Personal Data with those parties in order to provide the requested Service to you.

8. How Do We Use Cookies and Tracking Technologies?

When you visit our Sites, use our Services, or visit a third-party website for which we provide online services, we and our business partners and vendors may use cookies and other tracking technologies (collectively, "Cookies") to recognise you as a User and to customise your online experiences, the Services you use, and other online content and advertising; measure the effectiveness of promotions and perform analytics; and to mitigate risk, prevent potential fraud, and promote trust and safety across our Sites and Services. Certain aspects and features of our Services and Sites are only available through the use of Cookies, so if you choose to disable or decline Cookies, your use of the Sites and Services may be limited or not possible.

Do Not Track (DNT) is an optional browser setting that allows you to express your preferences regarding tracking by advertisers and other third-parties. We do not respond to DNT signals.

Please review How we use cookies to learn more about how we use Cookies.

9. What Privacy Choices Are Available to You?

You have choices when it comes to the privacy practices and communications described in this Privacy Policy. Many of your choices may be explained at the time you sign up for or use a Service or in the context of your use of a Site. You may be provided with instructions and prompts within the experiences as you navigate the Services.

Choices Relating to the Personal Data We Collect

Personal Data You may decline to provide Personal Data when it is requested by Spendology Ltd, but certain Services or all of the Services may be unavailable to you.

Location and other device-level information The device you use to access the Sites or Services may collect information about you, including Geolocation Information and User usage data that Spendology Ltd may then collect and use. For information about your ability to restrict the collection and use of such information, please use the settings available in the device.

Choices Relating to Our Use of Your Personal Data

Finding and connecting with others If available, you may manage your preferences for finding and connecting with others from your account of the Service you use.

Choices Relating to Account Connections

If you authorise an account connection to a third-party account or platform, such as a social media account, you may be able to manage your connection preferences from your Account or the third-party account or platform. Please refer to the privacy notice that governs the third-party platform for more information on the choices you may have.

Choices Relating to Cookies

You may have options available to manage your cookies preferences. For example, your browser or internet device may allow you delete, disable, or block certain cookies and other tracking technologies. You can learn more by visiting You may choose to enable these options, but doing so may prevent you from using many of the core features and functions available on a Service or Site.

You may have an option regarding the use of cookies and other tracking technologies when you use a Service or visit parts of a Site. For example, you may be asked if you want the Service or Site to "remember" certain things about you, and we will use cookies and other tracking technologies to the extent that you permit them. You can learn more about our cookies and tracking technologies by visiting the How we use cookies page.

Choices Relating to Your Registration and Subscription Information

If you have a Subscription, you generally may review and edit Personal Data by logging in and updating the information directly or by contacting us. Contact us if you do not have an Account or if you have questions about your Account information or other Personal Data.

Choices Relating to Communication

Notices, Alerts and Updates from Us:

Marketing We may send you marketing content about our Sites, Services, products, products we jointly offer with financial institutions, as well as the products and services of members of the Spendology Ltd corporate family through various communication channels, for example, email, text, pop-ups, push notifications, and messaging applications. Contact us if you wish to opt out of these marketing communications. For messages sent via push notifications, you may manage your preferences in your device.

Informational and Other We will send communications to you that are required or necessary to send to Users of our Services, notifications that contain important information and other communications that you request from us. You may not opt out of receiving these communications. However, you may be able to adjust the media and format through which you receive these notices.

10. What Are Your Rights?

Subject to limitations set out in EEA data protection laws, you have certain rights in respect of your Personal Data. In particular, you have a right of access, rectification, restriction, opposition, erasure and data portability. Please contact us if you wish to exercise these rights. If you wish to complete an access request to all personal data that TMC holds on you, please note that photo identity will be required to prove your identity.

If you have a Subscription with any of our Services, you generally can review and edit Personal Data in the Account by logging in and updating the information directly. We may use automated decision-making for decisions concerning credit with your consent or where necessary for the entry into or performance of a contract or authorised by Union or Member state law. Please contact us if you require more information on automated-decision making.

11. How Do We Protect Your Personal Data?

We maintain technical, physical, and administrative security measures designed to provide reasonable protection for your Personal Data against loss, misuse, unauthorised access, disclosure, and alteration. The security measures include firewalls, data encryption, physical access controls to our data centres, and information access authorisation controls. While we are dedicated to securing our systems and Services, you are responsible for securing and maintaining the privacy of your password(s) and Subscription/profile registration information and verifying that the Personal Data we maintain about you is accurate and current. We are not responsible for protecting any Personal Data that we share with a third-party based on an account connection that you have authorised.

12. Can Children Use Our Services?

The Sites and Services are not directed to children under the age of majority. We do not knowingly collect information, including Personal Data, from children or other individuals who are not legally able to use our Sites and Services. If we obtain actual knowledge that we have collected Personal Data from a child under the age of majority, we will promptly delete it, unless we are legally obligated to retain such data. Contact us if you believe that we have mistakenly or unintentionally collected information from a child under the age of majority.

13. What Else Should You Know?

Changes to this Privacy Policy.

We may revise this Privacy Policy from time to time to reflect changes to our business, the Sites or Services, or applicable laws. The revised Privacy Policy will be effective as of the published effective date.

If the revised version includes a substantial change, we will provide you with 30 days prior notice by posting notice of the change on the "Privacy Policy" page of our website. We also may notify Users of the change using email or other means.

14. Contact Us

Sign in to our website or mobile app and use the support badge bottom-right, or call us on 0203 950 0660 if you have general questions or concerns about this Privacy Policy and supplemental notices or the way in which we handle your Personal Data.

If you are not satisfied by the way in which we address your concerns, you have the right to lodge a complaint with the Supervisory Authority for data protection in your country.

Our Data Protection Officer can be contacted by contacting us as set out above**.**

15. Definitions

SUBSCRIPTION means an annual subscription to a Spendology Ltd Product or Service.

DEVICE INFORMATION means data that can be automatically collected from any device used to access the Site or Services. Such information may include, but is not limited to your device type; your device's network connections; your device's name; your device IP address; information about you're your device's web browser and internet connection you use to access the Site or Services; Geolocation Information; information about apps downloaded to your device; and biometric data (e.g., Touch ID/Fingerprint to verify your identity).

GEOLOCATION INFORMATION means information that identifies, with reasonable specificity, your location by using, for instance, longitude and latitude coordinates obtained through GPS or Wi-Fi or cell site triangulation.

TMC means Spendology Ltd and subsidiaries or affiliates. In this Privacy Policy, Spendology Ltd is sometimes referred to as "we," "us," or "our," depending on the context.

PERSONAL DATA means information that can be associated with an identified or directly or indirectly identifiable natural person. "Personal Data" can include, but is not limited to, name, postal address (including billing and shipping addresses), telephone number, email address, payment card number, other financial account information, account number, date of birth, gender, and government-issued credentials (e.g., driver's license number, national ID, passport number).

PROCESS means any method or way that we handle Personal Data or sets of Personal Data, whether or not by automated means, such as collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, and consultation, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction of Personal Data.

SERVICES means any products, services, content, features, technologies, or functions, and all related websites, applications and services offered to you by TMC with a Subscription.

SITES means the websites, mobile apps, official social media platforms, or other online properties through which Spendology Ltd offers the Services and which has posted or linked to this Privacy Policy.

TECHNICAL USAGE DATA means information we collect from your phone, computer or other device that you use to access the Sites or Services. Technical Usage Data tells us how you use the Sites and Services, such as what you have searched for and viewed on the Sites and the way you use our Services, including your IP address, statistics regarding how pages are loaded or viewed, the websites you visited before coming to the Sites and other usage and browsing information collected through Cookies.

USER means an individual who uses the Services or accesses the Sites and has established a relationship with Spendology Ltd (for example, by taking out a Subscription and agreeing to the Spendology Ltd Terms and Conditions).

Banking Regulations Notice for Customers in the EEA

1. FATCA and CRS Law Statement
In order to provide the Spendology Ltd Services, certain of the information we collect (as set out in this Privacy Policy) may be required to be transferred to other Spendology Ltd related companies or other entities, including those referred to in this section in their capacity as payment providers, payment processors or account holders (or similar capacities). You acknowledge that according to their local legislation, such entities may be subject to laws, regulations, inquiries, investigations, or orders which may require the disclosure of information to the relevant authorities of the relevant country. Your use of the Spendology Ltd Services constitutes your consent to our transfer of such information to provide you the Spendology Ltd Services.

Specifically, you consent to and direct Spendology Ltd to do any and all of the following with your information:

Disclose necessary information to: the police and other law enforcement agencies; security forces; competent governmental, intergovernmental or supranational bodies; competent agencies, departments, regulatory authorities, self-regulatory authorities or organisations, and other third parties, including Spendology Ltd companies, that (i) we are legally compelled and permitted to comply with, including but without limitation the Luxembourg laws of 24 July 2015 on the US Foreign Account Tax Compliance Act ("FATCA Law") and 18 December 2015 on the OECD common reporting standard ("CRS Law"); (ii) we have reason to believe it is appropriate for us to cooperate with in investigations of fraud or other illegal activity or potential illegal activity, or (iii) to conduct investigations of violations of our User Agreement (including without limitation, your funding source or credit or debit card provider).

If you are covered by the FATCA or CRS Law, we are required to give you notice of the information about you that we may transfer to various authorities.

We may also share, access and use (including from other countries) necessary information (including, without limitation the information recorded by fraud prevention agencies) to help us and them assess and to manage risk (including, without limitation, to prevent fraud, money laundering and terrorist financing). Please contact us if you want to receive further details of the relevant fraud prevention agencies.

Disclose Account Information to intellectual property right owners if under the applicable national law of an EU member state they have a claim against Spendology Ltd for an out-of-court information disclosure due to an infringement of their intellectual property rights for which Spendology Ltd Services have been used (for example, but without limitation, Sec. 19, para 2, sub-section 3 of the German Trademark Act or Sec. 101, para 2, sub-section 3 of the German Copyright Act).

Disclose necessary information in response to the requirements of the credit card associations or a civil or criminal legal process.

Disclose necessary information to the payment processors, Providers, auditors, customer services providers, credit reference and fraud agencies, financial products providers, commercial partners, marketing and public relations companies, operational services providers, group companies, agencies, marketplaces and other third parties listed here. The purpose of this disclosure is to allow us to provide TMC Services to you. We also set out in the list of third parties non-exclusive examples of the actual third parties (which may include their assigns and successors) to whom we currently disclose your Account Information or to whom we may consider disclosing your Account Information, together with the purpose of doing so, and the actual information we disclose (except as explicitly stated, these third parties are limited bylaw or by contract from using the information for secondary purposes beyond the purposes for which the information was shared).​

Disclose necessary information to your agent or legal representative (such as the holder of a power of attorney that you grant, or a guardian appointed for you).

Disclose aggregated statistical data with our business partners or for public relations. For example, we may disclose that a specific percentage of our users live in Birmingham. However, this aggregated information is not tied to personal information.

Share necessary Subscription Information with unaffiliated third parties listed here for their use for the following purposes:

Fraud Prevention and Risk Management: to help prevent fraud or assess and manage risk As part of our fraud prevention and risk management efforts, we also may share necessary Subscription Information with our Providers in cases where TMC has placed a hold or other restriction on your account based on disputes, claims, chargebacks or other scenarios regarding the sale or purchase of goods. Also, as part of our fraud prevention and risk management efforts, we may share Subscription Information with Providers to enable them to operate their programmes for evaluating Users.

Customer Service For customer service purposes, including to help service your accounts or resolve disputes (e.g., billing or transactional).

Shipping In connection with shipping and related services for purchases made using Spendology Ltd.

Legal Compliance To help them comply with anti-money laundering and counter-terrorist financing verification requirements.

Service Providers to enable service providers under contract with us to support our business operations, such as fraud prevention, bill collection, marketing, customer service and technology services. Our contracts dictate that these service providers only use your information in connection with the services they perform for us and not for their own benefit.

Updated on: 15/02/2024

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