Global Privacy Policy

Personal Information we collect

“Personal information” refers to any data related to a living individual that can be used for identity verification or regulation, such as an email address. This includes both factual details and opinions about these details, as expressed in third-party surveys conducted by MyXspend (or its representatives). Please note that the definition of “personal information” may vary depending on your location and the applicable laws.

Information you provide to us

We collect the information necessary to create an account and enable access to our Services. This information is either required by law (for instance, to verify your identity), necessary to deliver the requested services (for example, you must provide your bank card details if you wish to purchase digital assets), or relevant to our legitimate interests as detailed further below.

Types of Personal Information We May Request

• Identification Details: Your full name, date of birth, nationality, gender, signature, utility bills, photographs, phone number, home address, and/or email address.
• Official Identification: Government-issued documents such as a Passport, Driver’s License, National Identity Card, State ID Card, Tax ID number, passport number, driver’s license details, national identity card details, visa information, and/or any other details required to comply with our legal obligations under financial or anti-money laundering regulations.

• ‍Official Identification: Government-issued documents such as a Passport, Driver’s License, National Identity Card, State ID Card, Tax ID number, passport number, driver’s license details, national identity card details, visa information, and/or any other details required to comply with our legal obligations under financial or anti-money laundering regulations.‍
• Institutional Information: Employer Identification Number (or a comparable government-issued number), proof of legal formation (e.g., Articles of Incorporation), and personal identification details for all significant beneficial owners.‍
• Financial Information: Bank account details, payment card primary account number (PAN), transaction history, trading data, and/or tax identification information.‍
• Transaction Data: Details about your transactions on our Services, such as the recipient’s name, your name, transaction amount, and/or the date and time of the transaction.‍
• Employment Information: Information regarding your office location, job title, and/or a description of your role.‍
• Correspondence: Responses to surveys and any information you provide to our support or user research teams.

Automatically Collected or Generated Information

By using our Website and Services, you consent to the collection of personal information generated through your usage. This includes data automatically gathered during your web browsing sessions, such as the pages you visit and the times they were accessed. This information helps us enhance our services for all customers by deterring fraudulent access attempts using compromised account details.
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Information automatically collected includes:

• Online Identifiers: Geolocation and tracking data, operating system details, browser name and version, and/or your personal IP addresses.

• Usage Data: Authentication data, security questions, click-stream information, public social networking posts, and other data gathered via cookies and similar technologies. For further details, please review our Cookie Policy.

Third-Party Information We Receive

We may also obtain information about you from third-party sources. The primary sources of this information include:

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The main types of third parties we receive your personal information from are:

• Public Databases, Credit Bureaus, & ID Verification Partners: To verify your identity in compliance with applicable laws, we work with third parties such as Experian. These partners use a combination of government records and publicly available data—such as your name, address, job role, public employment profile, credit history, status on any sanctions lists maintained by public authorities, and other pertinent details—to confirm your identity.‍
• Blockchain Data: We gather blockchain data to ensure that users of our Services are not engaging in illegal or prohibited activities, and to analyze transaction trends for research and development purposes.
• Marketing Partners & Resellers: Information from these sources helps us gain insights into which of our Services may be of interest to you.

Anonymized and Aggregated Data

To enhance our service and maintain a secure digital environment for all our clients, we may collect data that, while not meaningful on its own, can provide valuable insights when examined as part of larger trends or patterns. This may include transaction histories, click-stream data, fraud indicators, or performance metrics from website visits.

How We Use Your Personal Information

We may process your information in various ways and for several purposes, including but not limited to the following:

• Legal Compliance and Fraud Prevention: We process your personal information—such as your name and address—in order to comply with legal requirements. Additionally, we may engage service providers to act on our behalf or to verify your identity when linking bank accounts. These measures help protect against fraud and enable MyXspend to detect any unusual activity that might indicate account compromise or fund loss. If you fail to provide the personal information required by law, we will be forced to close your account.‍
• Service Provision and Account Management: A key aspect of our Services involves processing your personal information to ensure a high-quality experience. For example, if you wish to store funds on our platform, we require certain details—such as identification, contact, and payment information—to help prevent fraud in accordance with industry best practices. We may also collect fees based on your use of our Services, and we closely monitor your account usage and interactions. Failure to provide the necessary personal information for these purposes may result in the termination of your account.‍
• Communication and Customer Support: To keep you informed and to comply with applicable laws, we may send you communications such as marketing emails, service updates, and important notifications regarding your account, security issues, or transaction-related matters. While you can opt out of marketing communications by adjusting your account settings or contacting support at support@myxspend.com, you cannot opt out of critical service communications that are legally required.
• Customer Service and Continuous Improvement: When you contact us, we process your personal information to address your inquiries or resolve disputes. This interaction also offers us an opportunity to improve our services and ensure that your experience remains safe and hassle-free. We may occasionally send you emails about new features, functionality updates, or other important service-related news.‍

Legitimate Business Interests:

In some cases, the processing of your personal information is essential for our legitimate business interests, which include:

• Quality control and staff training.
• Enhancing security by monitoring and verifying identities and service access, as well as combating spam, malware, or other security threats.
• Improving your overall experience on our Services and Sites.
• Facilitating corporate transactions, such as mergers, acquisitions, or other business dealings.
• Conducting research and development to innovate and refine our offerings.
  

Each of these purposes is designed to provide you with a secure, efficient, and continually improving service experience while ensuring that we meet our legal obligations and protect your interests.

Legal Bases for Processing Your Information

For individuals located in the European Economic Area, United Kingdom, or Switzerland at the time their data is collected, we adhere to the legal bases for processing as outlined in the relevant data protection legislation. This means that we will only process your data when it is legally required, necessary for the performance of a contract with you (or to take steps at your request before entering into a contract), essential for our legitimate business interests, or required to protect the property rights of MyXspend or yourself. Additionally, processing may occur where we have obtained your consent. We also ensure that we do not use your information beyond the scope of what has been previously agreed upon without your explicit consent.

Disclosing your personal information to third parties

Your personal information remains secure with us. We only share your data with third parties when it is necessary for them to perform specific tasks, and we have no intention of selling or renting your details without your explicit consent.

We will share your personal information only with the following types of third parties:

• Identity Verification Services: These services help prevent fraud by verifying your identity through comparisons with public records and other third-party databases.‍
• Financial Institutions: We partner with these institutions to process payments that you have authorized.‍
• Service Providers and Professional Advisors: These contracted parties assist with various aspects of our business operations. Our contracts require them to use your information solely in connection with the services they perform for us, and they are prohibited from sharing your data with others.‍
• Entities Involved in Business Transfers or Bankruptcy Proceedings: This category includes companies or other third parties that acquire MyXspend assets during business transfers or bankruptcy processes.

Additionally, we may disclose your information to law enforcement, regulators, or other relevant third parties when required by applicable laws. We do so only when we have a good faith belief that such disclosure is reasonably necessary—for example, to protect our rights or property, ensure safety, maintain public integrity, enforce our terms and agreements, or address security, fraud, or technical issues.

Third-party sites and services

Third-party applications connected to your MyXspend account might have access to the information you provide when creating an account or using our Services. We only permit these third parties to facilitate transactions between you and them, so it is important that they adhere to acceptable privacy standards.

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For instance:

• Merchants: When you use your MyXspend account to conduct transactions with third-party merchants, these merchants may share your personal and transaction details with us.‍
• Financial Services Providers: When you transfer funds from your bank account, the receiving party must know the origin of the funds and include the necessary information to ensure that fraudulent activity is prevented.

How we protect and store personal information

We have implemented robust security measures to safeguard your personal information. The level of protection applied corresponds to the sensitivity of the data, ensuring that customer files are securely managed and only accessible by authorized personnel.

By using our Services, you consent to the collection and global processing of your personal information. We employ physical, electronic, and procedural safeguards that comply with applicable laws to protect your data from unauthorized access, misuse, or any other potential risks, including those posed by third parties attempting to exploit security vulnerabilities.

MyXspend is dedicated to protecting both our customers’ and employees’ privacy. All staff members are required to adhere to data protection laws and standards, with any misuse or improper disclosure resulting in disciplinary action.

When you contact a MyXspend representative regarding your account or stored information, you may be asked to verify your identity by providing details such as your name and address. This precaution is in place to ensure that only authorized individuals can access sensitive information. Please refrain from sharing your personal data with any third parties and immediately notify us if you suspect any unauthorized access or usage of your account.

Retention of personal information

We retain your personal information for as long as it is necessary to meet our needs. The duration for which your data is kept is determined by several factors, including:

• Purpose of Use: Your personal information is stored as long as it is needed to provide our services, fulfill our contractual obligations with you (and others who have authorized its use), and serve its intended purpose.‍
• Legal Requirements: Certain legal obligations may mandate that records are maintained for a minimum period.

If you have any questions about our data retention practices, please contact us at support@myxspend.com.

Once your personal information is anonymized in a manner that prevents it from being associated with you, we may use that data without further notice.

Children's personal information

MyXspend does not knowingly solicit personal information from individuals under the age of 18. If you believe that someone under 18 has submitted their personal data, please inform us immediately. We will take prompt action to delete all copies of this sensitive information within 24 hours.

Cross border transfers

Your information is very important to us. As such, we will never export or transfer your data outside of the European Economic Area (EEA) or other supported regions. We adhere to strict guidelines for cross-border data transfers and ensure that all our internal procedures comply with local laws before any data is transmitted internationally.

Your privacy rights

Depending on the laws in your place of residence, you may have certain rights regarding your personal information. These rights include:

• Access and Transparency: You have the right to know how your personal information is being processed and to request access to that information.‍
• Withdrawal of Consent: You can withdraw your consent at any time. However, if we require your personal information for a legitimate purpose—such as legal compliance—or if you have provided it under other mandatory conditions, we may still need to process it, albeit possibly to a lesser extent.‍
• Data Portability: If you have supplied us with personal information, you may request that we provide it in a structured, commonly used, and machine-readable format. This right does not apply to other types of communications made via the MyXspend platform (e.g., social media posts or emails) that are publicly accessible via links without the disclosure of sensitive details.‍
• Data Accuracy: You have the right to ensure that your personal information is accurate and up to date.‍
• Right to Erasure: Under certain circumstances, you may request that we delete your personal information. However, please note that there may be legal requirements that mandate retaining certain data, in which case we cannot delete it if doing so would violate applicable laws or regulations.‍
• Objection to Processing: If you object to our processing of your personal information for specific purposes, we will take your objection into account. Nevertheless, if we are legally obliged to continue processing your data, we may do so.‍
• Restriction or Deletion Requests: In some cases, you may ask us not only to restrict the processing of your data but also to delete it entirely. However, if you request deletion of data that you fully own and we are legally required to retain, we may be unable to comply.
• Filing a Complaint: If you believe your rights have been violated, you have the right to lodge a complaint with the appropriate data protection regulator in your jurisdiction.

To exercise any of these rights, please contact us using the details provided below. For further information about your privacy rights, you may also reach out to the supervisory data protection authority in your area.

How to contact us

If you have questions or concerns regarding this Privacy Policy, or if you have a complaint, please contact us at support@myxspend.com.