I. Banked Inc. Privacy Policy

Banked Inc. ("Banked") respects your privacy and is committed to taking reasonable steps towards protecting your privacy online and managing your information responsibly. This Privacy Policy is intended to notify you of our online privacy practices, the type and categories of information that may be collected, disclosed and stored, how the information is used, with whom the information may be shared, what choices are available to you regarding the collection, use and distribution of the information, what kind of security procedures are in place to protect the loss, misuse or alteration of information under our control, your rights regarding your personal information and who to contact with questions or concerns.

This Privacy Policy applies to information collected on our website located at www.banked.com and on our mobile application (“App”), to any information used to process a transaction, or use our products or services, as well as our marketing contacts with you. This Privacy Policy does not apply to other websites or services to which we may link, or to other companies or persons who might be listed as third-party contacts or suppliers on the Website or App, or to whom we may refer you if you call or write us. We may post links on the Website or in the App as a way of helping you locate related information and products easily. However, when linking to another website or service, you must review their privacy notice as they may not treat information collected in the same manner as we do. Unless otherwise specified, personal information collected from these other channels is not provided to Banked, and Banked has no control over how they use the information that they collect.

By using the Website, App, and/or by contacting us and providing any personal information, you consent to the collection and use of information by us in accordance with this Privacy Policy, as well as the Website Terms of Use. If we decide to change our Privacy Policy, we will post those changes on this page and, at the end of this Privacy Policy, indicate the date that changes were last made.

II. WHY WE COLLECT INFORMATION:

We collect personal information because it helps us execute transactions, verify customer information, provide customer service, and process payments and refunds. We also collect your personal information to defend against or bring legal actions, claims, and other liabilities; comply with applicable laws and law enforcement requirements; and protect against malicious, deceptive, fraudulent, or illegal activity and prosecuting those who are responsible for such actions.

III. WHAT INFORMATION WE COLLECT:

The following generally describes the type of information we may collect about you. Those who wish to communicate with us but do not wish to provide personal information online may contact us through the address or e-mail address provided below. However, you should note that if you contact us by phone, e-mail, or via postal mail, you may still be submitting personal information to us, as set forth herein.

Processing Transactions:

When you use our services, we will collect the information necessary to complete your transaction, such as your name, e-mail address, bank account number and sort code, IP address, physical address, and a government issued identification number. You may also provide us with other information that you might submit. You may also elect to have us remember your choices and information in order to make future experiences with us faster and more convenient.

Website Usage:

We collect information, including personal information, you voluntarily submit, such as during the registration process, when you submit questions or comments, or when you request information. Should you voluntarily provide us with personal information, you consent to our use of it in accordance with this Privacy Policy.

Even if you do not submit personal information through the Website or the App, we gather navigational information about where visitors go on the Website or App and information about the technical efficiencies of our Website, App, and services (i.e., time to connect to the Website/App, time to download pages, etc.). This information allows us to see which areas of our Website and App are most visited and helps us better understand the user experience. This helps us improve the quality of the Website and App by recognizing and delivering more of the features, areas, and services our visitors prefer. In this process of gathering information, we may collect personally identifiable and non-personal information (for example, domain type, browser type and version, third party vendor and IP address, referring/exit pages, operating system, date/time stamp, and click-stream data). We may also create and use electronic records to compile statistics about how our visitors collectively interact with our Website and App.

IV. HOW WE USE THE INFORMATION WE COLLECT:

We use the information we collect internally in our business for many business purposes, such as to: (i) process and fulfill your orders and transactions, process payments and refunds, and provide customer service with respect to such orders and transactions; (ii) verify our customers’ information; (iii) to protect against and prosecute those responsible for malicious, deceptive, fraudulent, or illegal activity; (iv) investigate and defend against claims and/or legal actions, violations of law or agreements, and compliance with relevant applicable laws and legal process; (v) comply with law, or based on our good faith belief that it is necessary to conform or comply with the law, or otherwise to disclose information to prevent fraud, to cooperate with police and other governmental authorities, or to protect the rights, property or safety of visitors to the Website and App, or the public; and, (vi) process or engage in a sale of all or part of our business, or if we go through a reorganization or merger.

V. HOW WE COLLECT INFORMATION:

We collect information from various sources in three primary ways:

1. You Give Us Information: We collect information from you when you submit it to us through our Website, App, or other digital media.

2. We Receive Your Information: As we often act as an intermediary to process your transaction, we may obtain your personal information from retailers or service providers to facilitate the transaction.

3. We Collect Information Automatically: We automatically collect certain types of information when you visit our Website, App, or use our products and services. For example, we automatically collect various types of technical information when you use our Website, App, as otherwise described in this Privacy Policy.

Use of Cookies:

Cookies are bits of electronic information that a website may transfer to a visitor’s computer to identify specific information about the visitor’s visits to the website. We use cookies, for example, to facilitate interactions and functionalities to allow you to access selected features and services. The Website uses a browser feature known as a cookie, which assigns a unique identification to your computer. Cookies are typically stored on your computer’s hard drive and are used to help track clicks as you go through the pages within our Website. We may also use cookies to tell us whether you have previously visited the Website. We also use cookies that may be set by third-parties with whom we have entered into agreements, which may enable us to obtain analytics information about the use of our Website. You can set your browser not to accept cookies or to notify you when you are sent a cookie, giving you the opportunity to decide whether or not to accept it. You may also use commonly available tools in your browser to remove cookies which may have been placed onto your computer. However, please be aware that the Website requires cookies to operate correctly.

Use of Web Beacons, Clear-GIFs, Pixel Tags and JavaScript:

We also may use "pixel tags" (also called "action pixels," "web beacons" or "clear gifs") and/or JavaScript plug-ins, placed on our Website and in our emails to you. These web beacons and plug-ins are small graphic images (typically that you cannot see) or code on a website or in an email message which are used for such things as recording web pages and advertisements clicked-on by a user, or for tracking the performance of email marketing campaigns. These devices help us analyze our customers' online behavior and measure the effectiveness of our Website. We also work with third-party vendors that help us track, collect, and analyze this information. Third-party entities with whom we have agreements may place these devices on the Website and/or in e-mails to use information obtained from them such as pages viewed, e-mails opened and items upon which you may click in e-mails.

Server Logs and Widgets:

A web "server log" is a record of activity created by a computer that delivers certain web pages to your browser. Certain activities that you perform on our Website may record information in server logs, such as if you enter a search term into a search box located on the Website. The server log may record the search term(s), or the link you clicked on to bring you to our Website. The server log may also record information about your browser, such as your IP address and the cookies set on your browser.

A "widget" is generally an application that can be embedded in a webpage. Widgets can provide real-time information to the webpage. Widgets are often provided by third-parties and we may provide widgets on our Website. Widgets may enable the third-parties that provide them to collect data about users visiting the Website.

VI. HOW WE SHARE PERSONAL INFORMATION

In order to provide our Services, and in accordance with our Terms and Conditions [link], we may be required to disclose your personal information to those third parties we work with. You agree to your personal and financial information being transferred, stored, and processed by Akoya in accordance with Akoya’s privacy policy at https://akoya.com/privacy-policy and applicable laws, by MX in accordance with MX’s privacy policy at https://www.mx.com/privacy-policy/ and applicable laws, and by Dwolla in accordance with Dwolla’s privacy policy at https://www.dwolla.com/legal/privacy/ and applicable laws.

We do not sell, and in the past 12 months have not sold, your personal information. In particular, we do not sell the personal information of minors under 16 years of age.

VII. BUSINESS TRANSFERS

If Banked, or substantially all of its assets, were acquired, or in the unlikely event that Banked goes out of business or enters bankruptcy, user information would be one of the assets that is transferred or acquired by a third-party. You acknowledge that such transfers may occur, and that any acquirer of Banked may continue to use your personal information only in accordance with this Privacy Policy.

VIII. YOUR CHOICES ABOUT THE INFORMATION WE COLLECT

To learn more about interest-based advertising or to "opt-out" of interest based advertising programs from participating companies, visit www.networkadvertising.org/choices or www.aboutads.info/choices/.

If you do not consent to the way in which we may use your personal information, please do not submit any personal information to us. If you wish to opt-out of our use of your personal information, please provide us with your exact name and address and advise us that you wish to opt-out. Please direct your opt-out request to:

Banked Inc.
228 Hamilton Ave, 3rd Floor, Suite 300
Palo Alto, CA 94301, United States

support@banked.com

IX. USE BY MINORS

We recognize the importance of children's safety and privacy. The Website and App are not designed to attract children, and is not directed at or intended for use by, children under the age of 13. If we become aware that a user of our Website or App is under the age of 13 and has provided an online registration or other personal information without prior verifiable parental consent, we will take all commercially reasonable steps to delete such information from our files and not to use such information for any purpose (except where necessary to protect the safety of the child or others as required or allowed by law).

X. STATE SPECIFIC PRIVACY RIGHTS

California Consumer Privacy Act Disclosures

Under the California Consumer Privacy Act (“CCPA”), we must disclose our practices regarding the collection, use, and disclosure of the Personal Information (as defined under the CCPA) of California Residents (“Consumers”). Consumers are also afforded additional rights with regard to the Personal Information we collect about them that include the rights of access, deletion, correction, and to be free from discrimination (“Consumer Rights”). This section of our Privacy Policy includes the disclosures required by the CCPA and the Consumer Rights under the California Consumer Privacy Act section below describes the rights afforded to Consumers. We also describe the methods by which a Consumer may exercise these rights and some of the statutory exceptions that may apply.

(A) Collection of Personal Information

We have collected and will collect the following general categories of Personal Information about Consumers:

• Personal identifiers, including name, postal address, unique personal identifier, online identifier, Internet Protocol address, email address, account name, driver’s license number, passport number, or other similar identifiers;

• Customer records (see Cal. Civ. Code § 1798.80(e)), including signature, physical characteristics or description, telephone number, state identification card number, insurance policy number, education, employment, employment history, bank account number, credit card number, debit card number, or any other financial information, medical information, or health insurance information;

• Protected classifications, including race, color, sex, age, religion, national origin, disability, citizenship status and genetic information;

• Professional or employment related information; and

• Sensitive personal information.

(B) Collection of Sensitive Personal Information

We have collected and will collect the following categories of sensitive Personal Information about Consumers:

• bank account numbers and sort codes, and individual payments (including payment amount and IP address and the link to the bank account the payment was made with)

(C) Use of Personal Information

We may use the categories of Personal Information described above for the following business or commercial purposes:

• Provide customer service;

• Process or fulfil orders and transactions;

• Process payments;

• Verify customer information;

• Comply with applicable law and law enforcement requirements;

• Protect against malicious, deceptive, fraudulent or illegal activity;

• Prosecute those responsible for malicious, deceptive, fraudulent or illegal activity; and

• Defend against or bring legal action, claims and other liabilities.

(D) Categories of Sources of Personal Information

We collect or obtain Personal Information, (including Sensitive Personal Information) about you from the following sources:

• Information you provide to us: We collect Personal Information when you provide it to us (e.g., when you register an account with us; where you contact us via email or telephone, or by any other means, or when you submit a job application).

• We Collect Information Automatically: We automatically collect certain types of information when you visit our Website, App, or use our products and services. For example, we automatically collect various types of technical information when you use our Website or App as otherwise described in this Privacy Policy.

• Third party information: We collect or obtain Personal Information from third parties who provide it to us.

(E) Selling and Sharing of Personal Information

We do not sell any Personal Information to third parties, as that term is defined in the CCPA. In addition, we do not sell the Personal Information of minors under 16 years of age. Additionally, we do not share any Personal Information with third parties, as that term is defined in the CCPA (e.g., for purposes of cross-context behavioral advertising).

(F) Retention of Personal Information

We take every reasonable step to ensure that your Personal Information is processed for the minimum period necessary for the purposes set out in this Policy. The criteria for determining the duration for which we will retain each category of Personal Information collected are as follows:

(1) we will retain Personal Information in a form that permits identification only for as long as:

(a) we maintain an ongoing relationship with you (e.g., where you are a user of our products or services); or

(b) your Personal Information is necessary in connection with the business purposes set out in this Policy, (e.g., to maintain or service your account;  to verify your information; or where we have a legal obligation to retain your Personal Information     );

plus: 

(2) the duration of: 

(a) any applicable limitation period under applicable law (i.e., any period during which any person could bring a legal claim against us in connection with your Personal Information, or to which your Personal Information is relevant); and

(b) an additional two (2) month period following the end of such applicable limitation period (so that, if a person brings a claim at the end of the limitation period, we are still afforded a reasonable amount of time in which to identify any Personal Information that are relevant to that claim),

and: 

(3) in addition, if any relevant legal claims are brought, we continue to process Personal Information for such additional periods as are necessary in connection with that claim.

(G) Consumer Rights under the California Consumer Privacy Act

If you are a Consumer, the CCPA grants you the following rights regarding your Personal Information. Generally, in order to verify your requests to exercise your rights, we will compare the Personal Information we have about you to pieces of Personal Information we will request in the course of processing your request. The Personal Information required for verification may include your name, email address, phone number, or postal address. We will deliver a response to you within 45 days of receiving your verifiable consumer request. To exercise your rights under the CCPA, please follow the instructions described in this section.

Right to Know About Personal Information. Consumers have the right to submit a verifiable consumer request that we disclose the following in a readily useable format, covering the 12 month period preceding the verifiable consumer request:

• The categories of Personal Information we collected about you.

• The categories of sources for the Personal Information we collected about you.

• The categories of third parties to whom we disclose Personal Information.

• Our business or commercial purpose for collecting, selling, or sharing Personal Information.

• The specific pieces of Personal Information we collected about you.

• The categories of Personal Information that we shared, and for each category identified, the categories of third parties to whom we shared that particular category of Personal Information.

• The categories of Personal Information we have disclosed for a business purpose, and for each category identified, the categories of third parties to whom we disclosed that particular category of Personal Information.

Verifiable consumer requests to know may be submitted through email at: support@banked.com.

Right to Request Deletion of Personal Information. Consumers have the right to request that we delete any Personal Information that we have collected from them. However, we are not required to comply with a request to delete where it is necessary for us to retain the Personal Information in order to:

• Complete the transaction for which we collected the Personal Information, provide a good or service that you requested, take actions reasonably anticipated within the context of our ongoing business relationship with you, or otherwise perform our contract with you.

• Help to ensure security and integrity to the extent the use of your Personal Information is reasonably necessary and proportionate for those purposes.

• Debug products to identify and repair errors that impair existing intended functionality.

• Exercise free speech, ensure the right of another consumer to exercise their free speech rights, or exercise another right provided for by law.

• Comply with the California Electronic Communications Privacy Act (Cal. Penal Code § 1546 et. seq.).

• Engage in public or peer-reviewed scientific, historical, or statistical research in the public interest that adheres to all other applicable ethics and privacy laws, when the information’s deletion may likely render impossible or seriously impair the research’s achievement, if you previously provided informed consent.

• Enable solely internal uses that are reasonably aligned with consumer expectations based on your relationship with us.

• Comply with legal obligations.

• Make other internal and lawful uses of that information that are compatible with the context in which you provided it.

Verifiable consumer requests to delete may be submitted through email at: support@banked.com.

Right to Correct. Consumers have the right to request that we correct inaccurate Personal Information maintained about them, taking into account the nature of Personal Information and the nature of processing. However, we are not required to comply with a request to correct where we have a good-faith, reasonable, and documented belief that a request is fraudulent or abusive, or if we have determined based on the totality of the circumstances, that the contested Personal Information held by us is more likely than not accurate and therefore does not require correction. In assessing the totality of the circumstances, we will consider: (a) the nature of the personal information; (b) how we obtained the contested information; and (c) documentation relating to the accuracy of the information, whether provided by you, by us, or another source.

We will accept and consider any documentation that you provide in connection with a request to correct. We may require you to provide documentation supporting a request to correct depending on: (a) the nature of the Personal Information at issue; (b) the nature of the documentation upon which we consider the Personal Information to be accurate (e.g., whether the documentation is from a trusted source or is otherwise verifiable); (c) the purpose for which we collect, maintain, or use the Personal Information (e.g., if the Personal Information is essential to the functioning of the application, we may require more documentation); and (d) the impact on you. We will only use such documentation provided for the purpose of correcting your Personal Information and to comply with our record-keeping obligations for consumer requests.

Verifiable consumer requests to correct may be submitted through email at: support@banked.com.

Right to Non-Discrimination. Consumers have the right to be free from discrimination when they exercise their Consumer rights under the CCPA, and should you exercise those rights we cannot:

1. Deny you goods or services.

2. Charge you a different price or rate for goods or services, including through granting discounts or other benefits, or imposing penalties.

3. Provide you a different level of quality of goods or services.

4. Suggest that you may receive a different rate for goods or services or a difference level or quality of goods or services.

5. Retaliate against an employee, applicant for employment or independent contractor for exercising their rights.
   

Authorized Agent. Under the CCPA, you may appoint an authorized agent to submit requests to exercise your rights on your behalf. Should you choose to do so, for your and our protection, we will require your authorized agent to provide us with a signed permission demonstrating they are authorized to submit a request on your behalf. We note, should your authorized agent fail to submit proof that they have been authorized to act on your behalf, we will deny their request.

Virginia Consumer Data Protection Act Disclosures

Under the Virginia Consumer Data Protection Act (“VCDPA”), we, the data controller, must disclose our practices regarding the collection, use, and disclosure of the Personal Data (as defined under the VCDPA) of Virginia Residents (“Virginia Consumers”). Virginia Consumers are also afforded additional rights with regard to the Personal Data we collect about them that include the rights of access, deletion, and correction. This section of our Privacy Policy directs you to the disclosures required by the VCDPA and describes the rights afforded to Virginia Consumers. We also describe the methods by which a Consumer may exercise these rights.

(A) VCDPA Disclosures

• For the categories of Personal Data Banked processes, please see Section (IX) (A) of this privacy policy.

• For a description of the purposes for processing Personal Data, please see Section (IX) (C) of this privacy policy.

(B) Virginia Consumer Rights under the VCDPA

Consumer Requests: Under the VCPDA, we are a controller of your Personal Data. If you are a Virginia Consumer, the VCDPA grants you the rights described below, regarding your Personal Data. If we are unable to authenticate your request using commercially reasonable efforts, we may request that you provide additional information, such as name, email address, phone number, or postal address, to authenticate your request. We will deliver a response to you within 45 days of receiving your verifiable consumer request.

Process to Appeal Declined Requests: If we decline to take action on your request, we will notify you within 45 days of receipt of your request. In the event we decline to take action on your request, you may submit an appeal within 30 days of receiving such notice. You may submit an appeal through email at: support@banked.com. Within 30 days of receipt of an appeal, we will inform you in writing of any action taken or not taken in response to the appeal, including a written explanation of the reasons for the decisions. If your appeal is denied, we will provide you with an online mechanism, if available, or other method through which you may contact the Virginia Attorney General to submit a complaint.

Right to Access Personal Data: Virginia Consumers have the right to confirm whether or not we are processing their Personal Data and to access such Personal Data.

Verifiable consumer requests to confirm and access may be submitted through email at: support@banked.com.

Right to Correct Personal Data: Virginia Consumers have the right to correct inaccuracies in the consumer’s Personal Data, taking into account the nature of the Personal Data and the purposes of the processing of the consumer’s Personal Data.

Verifiable consumer requests to correct may be submitted through email at: support@banked.com.

Right to Delete Personal Data: Virginia Consumers have the right to delete Personal Data provided by or obtained about the consumer.

Verifiable consumer requests to delete may be submitted through email at: support@banked.com.

Right to Data Portability: Virginia Consumers have the right to obtain a copy of their Personal Data that the consumer previously provided to us in a portable and, to the extent technically feasible, readily usable format that allows the consumer to transmit the data to another controller without hindrance, where the processing is carried out by automated means.

Verifiable consumer requests for data portability may be submitted through email at: support@banked.com.

VISITORS TO THE WEBSITE AND USERS OF THE APP OUTSIDE OF THE UNITED STATES

If you are visiting the Website or using the App from a location outside of the United States, you specifically consent to the transfer of your information to the United States to the facilities and servers we use, and to those with whom we may share your information.

LINKS

For your convenience, the Website and App may contain links to other websites. We are not responsible for the privacy practices, advertising, products, or the content of such other websites. None of the links should be deemed to imply that we endorse or have any affiliation with the links.

SECURITY

We believe in providing a safe and secure experience for all of our online visitors. To that end, we take appropriate security measures to prevent unauthorized access, disclosure, modification, or unauthorized destruction of the data. While we use the foregoing security measures to protect your information, please note that no data transmitted over the Internet or stored and utilized for business purposes can be guaranteed to be completely secure. No security measures are perfect or impenetrable. We cannot guarantee that only authorized persons will view your information. We cannot ensure that information you share on the Website or App will not become publicly available. You can reduce these risks by using common sense security practices such as choosing a strong password, using different passwords for different services, and using up to date antivirus software.

QUESTIONS / CHANGES TO PRIVACY POLICY

If you have questions or concerns with respect to our Privacy Policy, you may contact us at: support@banked.com. We may elect to change or amend our Privacy Policy, in whole or in part, at our discretion and without prior notice; in such event, we will post any such changes or amendments in our Privacy Policy on the Website and App, which will supersede all prior versions. If you are concerned about how your personal information is used, please visit our Website often for this and other important announcements and updates.

Last Updated: 27 July 2023