SBS Privacy

At SBS we take the responsibility to protect your privacy seriously, as we understand how important your personal information is. The following privacy statement outlines how we protect and use your personal data.

We take privacy seriously.

Our Privacy Statement

This privacy statement tells you about why we collect information, where we collect information from, how we use and share information and what your rights in relation to your information are. In this privacy statement, the terms we, us and our mean SBS Bank.

The information we collect

The information we collect depends on the products and services you require. We typically collect names, contact details, identification information (eg dates of birth, driver licence numbers and tax numbers) and transaction information.

Depending on the product or service, there may be more detail about how we use your information in the relevant terms and conditions. If there are terms and conditions that are different from this privacy statement, then those terms will apply. If you have any queries, please get in touch with us on the details below or call us directly on 0800 727 2265 to speak with a member of our team.

Why we collect information about you.

We collect information about you for a number of purposes:

To provide our products and services

We collect your personal information to help us provide our services and products. This includes:

Opening and operating your accounts.
Administering your business.
Providing you with our products, services and information that you ask for.
Checking your credit worthiness, financial history, and employment details.
Verifying your identity and contact details, and any other information you provide to us.

To comply with applicable laws

We also collect personal information to help us comply with applicable laws, such as:

Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (e.g. to prove your identity).
Credit Contracts and Consumer Finance Act 2003 (e.g. to establish whether lending will be affordable).
Taxation laws (e.g. to verify or establish your tax status).
Land Transfer Act 2017 (e.g. to verify your identity as part of taking out a mortgage).

To communicate with you

We also collect your personal information to:

Communicate with you about our products and services. That can include important information about administering, financing or insuring any of your accounts and other products or services we provide to you or that you have requested.
Monitor compliance with any of our terms and conditions. Where we identify any non-compliance, we may use your information to communicate with you regarding that breach and, if necessary, to enforce our terms and conditions.
Communicate with you about products and services or promotions that we believe would be of interest to you. We might contact you through email, our digital platforms, text message or by phone. You can choose to opt out of our marketing messages at any time.

To advertise, tailor and improve our products and services

We may also collect information on how you use our products and services and digital platforms to help us make sure we are providing the right services and products to you, to tailor our products and services to you, and to improve those services and products and to advertise our products and services. This might include collecting information about:

How and when you use our services, products and digital platforms.
The devices you use to interact with our services, products and digital platforms.
Information we collect through cookies and other digital tracking tools, which may track what webpages you visit or third-party webpages that we advertise on.

Record our conversations with you

We may collect recordings of telephone conversations between you and our staff. We will use those recordings to:

Train staff.
Verify what has been said during calls.

Where we collect information from.

We usually collect information from you when you use our products or services or interact with us (e.g. in person, over the phone or through our digital platforms). In addition:

Third parties

We may also collect personal information about you from third parties, rather than directly from you. This is known as indirect collection. We collect information indirectly from:

Other banks and financial institutions (e.g. as part of facilitating payments and transactions).
Publicly available sources, such as Landonline.
Our advertising and marketing partners that help us advertise our products and services.
Parents or guardians (if you are under 18 years old).
Employers.
Guarantors, joint account holders, co-borrowers, authorised signatories, or any related parties.
Introducers, brokers, solicitors, custodians or other parties that are advising you or acting on your behalf.
Organisations that help us prevent, identify or investigate fraud or suspicious or illegal activity or risks to our systems and platforms.
Regulators and dispute resolution agencies, such as Inland Revenue and the Banking Ombudsman.

Our service providers

We may also collect personal information from providers who use your information to help us provide products and services to you and to help us run our business. This might include debt recovery agencies, credit reporting agencies, marketing and advertising companies, software providers, cloud service providers, data analytics providers and SBS subsidiaries.

Who we might share your information with.

We may need to share your information for the purposes set out above, where required by applicable law or where you have consented or authorised us to do so. For example, we may share information with:

Your joint account holders.
Guarantors of any loan or other outstanding amount you have with us.
Other banks and financial institutions (e.g. as part of facilitating payments and transactions).
Parents or guardians (if you are under 18 years old).
Our subsidiaries or any assignees.
The recipients of your automatic payments, bill payments and direct debits.
Any mortgage insurer we engage for a lender’s mortgage indemnity policy over your home loan debt. They will use this information to consider our application.
Insurers in relation to any money you owe us or any property you have given us security over.
Introducers, brokers, solicitors, custodians or other parties that are advising you or acting on your behalf.
Regulators and dispute resolution agencies, such as Inland Revenue and the Banking Ombudsman.
Our advertising and marketing partners that help us advertise our products and services.
Organisations that help us prevent, identify or investigate fraud or suspicious or illegal activity or risks to our systems and platforms.

Service providers

We may also provide your personal information to service providers who assist us to operate our business. Some of these service providers collect information about you on our behalf. They may use this information to:

Open and operate your accounts.
Administer your business.
Develop, improve and provide our products and services, including the platforms and software that we use to deliver those products and services.
Provide information to you.

Credit reporting providers

We may share your personal information with credit reporting providers to check your credit history.

These providers include:

Equifax (see their privacy policy at equifax.co.nz/privacy for more about how it uses your information).
Centrix (see their privacy statement at centrix.co.nz/privacy-statement for more about how it uses your information and your rights to access and correct that information).

In relation to these credit reporting providers:

We may give your personal information to one or more of these credit reporting providers, and they will keep that information on their systems to provide their reporting service to SBS and their other customers.
They may use the information they hold about you for the purpose of providing a credit reference.
If you default on your payment obligations to SBS, we may give information about that default to one or more of those credit reporting providers, and they may give information about your default to their other customers.

Your rights.

If you have any queries about how your information is used or want to request access to your information or to ask us to correct any errors, then please get in touch with us at privacy@sbsbank.co.nz.

Withholding information.

You don’t have to provide the information we ask for. However, not doing so might affect our ability to provide our services or products to you.

Changes to this privacy statement.

We may change this privacy statement from time to time. We will tell you about changes by posting an updated policy on our website sbsbank.co.nz. These changes will apply from the date we publish them (unless we tell you otherwise).

Making a Privacy Complaint.

If you feel we have mishandled your privacy, or not met our privacy obligations please contact us to make a complaint. We take all complaints seriously and will do our best to remedy your concerns.

If you have made a privacy complaint with us but are not satisfied with the outcome, you can escalate your complaint to either of the below organisations:

Office of the Privacy Commissioner

Phone: 0800 803 909
privacy.org.nz

Banking Ombudsmen