Wealth Development Bank Corporation Data Privacy Notice

Wealth Development Bank Corporation (“The Bank”) respects and values the privacy and confidentiality of your account information entrusted to the bank. This policy aims to enlighten the customers on how the bank collects, uses, stores, and processes any personal data given to the bank. This policy applies to clients (current, past and prospective) as individuals or corporations; or to non-clients (payees or payers of bank products and services we provide); visitors or inquirers at any of the bank’s branches and other channels; ultimate beneficial owners, directors or representatives of corporate clients; and such other persons involved in transactions with the bank or the bank’s customers (“Data Subjects”). The bank is committed to strictly follow and implement the Data Privacy Act of 2012.

PERSONAL INFORMATION COLLECTED

The bank may collect manually or automatically the following personal information, sensitive personal information and privileged information (if applicable), such as but not limited to your:
• Name and other particulars such as, but not limited to, contact details, address, birthdate, and educational background
• Details and photocopies of your government or other IDs
• Financial information such as income, expenses, deposits, investments, and credit cards
• Employment details
• Images captured via CCTV and other similar recording devices when visiting our offices, and/or using our facilities
• Voice recordings of our conversations with you
• Information about your transactions with third parties, including merchants and utility companies
• Non-personal information provided by the electronic device you are using such as the IP address, operating system, browser type and version, and other machine-related identifiers
• Specimen signatures

PURPOSES AND TIMING OF COLLECTION

The bank may manually or automatically collect your information when you visit the bank’s website, enter into a transaction, submit any application forms, file complaints, inquiries and other requests. The purpose of collecting the Personal Information are the following:
• Clients we provide products or services to:
• Establish customer records and comply with regulatory requirements
• Maintain and service your relationship with us
• Credit underwriting and due diligence related to transaction processing
• Perform accounting, monitoring, and reporting functions
• Applicants considered for employment:
• Process employment applications
• Manage employee benefits, including healthcare and retirement plans
• Manage compensation activities
• Manage and operate the Bank and its infrastructure
Compliance with (a) the Bank’s governing policies, processes, procedures and (b) the Bangko Sentral ng Pilipinas, our governing body

SAFEGUARDING AND SECURING THE DATA

The Bank is committed to securing your data and keeping it confidential. We use reasonable organizational, technical, and procedural measures to protect your data from theft, loss, unauthorized access, disclosure, copying, use, or modification. Your information is stored in secure and encrypted Bank-managed environments, devices, and media which were obtained for the purpose of and in compliance with the regulations set by the (a) Bangko Sentral ng Pilipinas, the (b) Anti-Money Laundering Council, the (c) Bureau of Internal Revenue and (d) other applicable laws. Lastly, the Bank will only engage with third party processors who meet our security standards and sharing of information will undergo proper authorization and approval process. We shall not process nor retain your information for purposes you have not consented to, unless otherwise required or mandated by law.

DATA SHARING

The Bank may, as and when necessary, to cater to your banking needs, seek to share, verify or augment your information with our affiliates, third-party entities, our outsource partners and/or government agencies (such as but not limited to Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC), Credit Information Corporation (CIC), Philippine Deposit Insurance Corporation (PDIC) and Bureau of Internal Revenue (BIR) as mandated by pertinent laws and regulations) or courts of competent jurisdiction and, in the process, gain additional information about you. The bank will not provide your personal information without your consent, unless otherwise specified in laws and regulations. Such data sharing activities shall be done in a manner that is compliant with the Data Privacy Act of 2012 and with utmost care and confidentiality.

RETENTION PERIOD

• Pursuant to BSP Regulations, retention period for transaction records shall be five (5) years from the date of transaction except where specific laws and/or regulations require a different retention period, in which case, the longer retention period is observed.
• For financial data and documents which indicate taxable transactions, data shall be preserved for ten (10) years per BIR.
• We keep your data as long as it is necessary: a) for the fulfillment of the declared, specified, and legitimate purposes, or when the processing relevant to the purposes has been terminated; b) for the establishment, exercise or defense of legal claims; or c) for legitimate business purposes, which shall be in accordance with the standards of the banking industry.
If no longer required, personal information will be disposed securely in an unrecoverable manner in order to prevent further processing, unauthorized access or disclosure to any other party.

RIGHTS OF DATA SUBJECTS

Under the DPA, you can exercise your rights on the following:
• To be informed that your personal data will be, are being, or were, collected and processed
• To obtain a copy of any information relating to you in the database and/or manual filing system
• To object to your personal data being processed for sales marketing, profiling and automated processing purposes
• To file a complaint with the National Privacy Commission
• To request for correction of any inaccuracies or error in the personal information stored in the database
• To suspend, withdraw or order the blocking, removal or destruction of your personal data
• To claim compensation if you suffered damages due to inaccurate, incomplete, outdated, false, unlawfully obtained or unauthorized use of personal data
• To obtain and electronically move, copy or transfer your personal data in a secure manner
For a complete reference of your rights under the Data Privacy Act, you may access the National Privacy Commission website at www.privacy.gov.ph

CHANGES TO OUR PRIVACY STATEMENT

We may change, modify or amend this Data Privacy Statement from time to time to align with relevant laws and regulations as applicable. All updates and notifications will be posted in our website.

INQUIRIES AND CONCERNS

For inquiries and concerns about this Privacy Policy or any of the processes described, you may address them to WealthBank’s Data Protection Officer at Taft Financial Center, Cardinal Rosales Avenue, Cebu Business Park, Cebu City, Philippines 6000 or send us an email to wdb-dpo@wealthbank.com.ph or call us on these numbers 091732-WBANK (92265) or (032) 415-5059 local 113.

This Data Privacy Statement has been updated as of 01/24/2022.