1. Introduction
TrustWise, as part of Twise US Group LLC, is committed to protecting the privacy and security of our users' personal data. This personal data usage policy explains how we collect, use, store, and share your personal information, in compliance with U.S. data protection laws, including the California Consumer Privacy Act (CCPA) and the Health Insurance Portability and Accountability Act (HIPAA), among other applicable laws.
TrustWise Bank is a trademark of Twise US Group LLC. By using our services, you agree to the collection and use of your personal data under the guidelines of this policy.
2. Collection of Personal Information
TrustWise collects different types of personal information to provide its services effectively. This information includes, but is not limited to:
Personally Identifiable Information (PII): Full name, address, phone number, email, date of birth, and identification documents.
Financial Information: Bank accounts, income history, tax information, and any other data provided during KYC (Know Your Customer) and KYB (Know Your Business) processes, necessary to comply with Anti-Money Laundering (AML) requirements.
Technical Data: IP addresses, browser type, website usage data, among others.
This information is collected to comply with regulatory requirements and allow TrustWise to offer its financial services and products such as TrustHome.
3. Purpose of Data Usage
The information collected by TrustWise is used for the following purposes:
Identity Verification: To confirm users' identities in order to comply with AML regulations and other relevant rules.
Regulatory Compliance: To comply with local and international laws and regulations, such as the Bank Secrecy Act (BSA) in the United States.
Financial Processes: To facilitate the management of financing products, including identity verification, risk analysis, and processing of applications related to programs such as TrustHome.
Service Improvement: To analyze technical data in order to optimize website functionality and improve the user experience.
TrustWise will not share your personal data with third parties for commercial purposes without your consent, except when necessary to comply with the law or for regulatory purposes.
4. Data Security and Protection
TrustWise implements physical, electronic, and administrative security measures to protect users' personal information:
Data Encryption: All personal and financial information is encrypted using advanced technology, complying with the standards set by the Electronic Communications Privacy Act (ECPA).
Restricted Access: Only authorized personnel have access to users' personal information, and this access is limited to the purposes described in this policy.
Audits and Evaluations: Regular audits and evaluations are conducted to ensure that data protection systems comply with current legal regulations.
5. Sharing Data with Third Parties
TrustWise does not sell or share personal information with third parties for commercial purposes. However, data may be shared in the following circumstances:
With Government Authorities: To comply with AML laws and regulations established by FINCEN and other regulatory authorities in the United States.
With Service Providers: In cases where third parties provide services on behalf of TrustWise, such as identity verification or auditing services, these third parties will be subject to strict confidentiality agreements.
Data shared with third parties is limited to what is strictly necessary for the purposes described in this policy.
6. Data Retention
TrustWise retains users' personal data for as long as necessary to fulfill legal and regulatory obligations, as well as to provide the requested services. Specific retention periods include:
KYC/KYB Data: We retain this information for the duration of the business relationship and for an additional period as required by applicable laws, such as the Bank Secrecy Act (BSA), which requires a minimum five-year retention.
Financial Data: Information related to financial transactions is retained in accordance with applicable regulations.
7. User Rights
Under the California Consumer Privacy Act (CCPA) and other data protection laws, users have the following rights regarding their personal data:
Access: Request information about the personal data that TrustWise has collected about you.
Correction: Request the correction of any errors in your personal data.
Deletion: Request the deletion of your personal information in certain circumstances, except where legal or regulatory requirements require the retention of data.
To exercise these rights, you can contact TrustWise using the contact information provided at the end of this document.
8. Modifications to This Policy
TrustWise reserves the right to modify this personal data usage policy at any time. Changes will be notified to users and will be available on our website. Users are encouraged to review this policy periodically to stay informed of any changes.
9. Contact Information
If you have any questions, concerns, or wish to exercise your rights related to data protection, you can contact us at:
Twise US Group LLC
Company Registration: 2024-001542623
Address: N Gould St Ste R, Sheridan, WY 82801
Email: cfo@trustwisebank.com
Phone: +1 (515) 506 8239
U.S. Office: 770 Broadway, New York, NY 10003, United States