The goal of Scotiabank of Puerto Rico, Inc., Scotia Insurance of Puerto Rico, Inc. and the Puerto Rico branches of The Bank of Nova Scotia is to provide our customers the best financial services. In order to do so, it is important that you let us know about you, your needs and your goals. It is only through the collection of this information that we are able to identify opportunities of providing you with the products and services that best suit your financial needs.
This Privacy Policy notice discloses the information that we collect from our customers, the safeguards we maintain to guard and protect the integrity and confidentiality of the information, and the customer’s right to opt out of the information sharing with our affiliates. The Privacy Policy will be disclosed annually and will apply even after you cease to be our customer.
Some of the benefits you may receive, by allowing us to share information with our affiliates, are, promotional offers, information about new products, and discounts, among others.
I. Information We Collect From You:
We collect information that is required or allowed by law in order to conduct our business, such information is gathered from several sources, such as:
Personal information we receive from you on applications and other forms (i.e. name, address, Social Security number, assets, and income).
Information resulting from and about your transactions with us, our affiliates or others (i.e. account balance, payment history, credit card use, etc.).
Information we receive from consumer reporting agencies (i.e. creditworthiness, credit history, etc.).
II. Information Security:
The information that we collect is strictly used for banking purposes. Our employees’ access to your records is restricted and limited on a need-to-know basis, and allowed only for business reasons. We permit only authorized employees, trained in the proper handling of customer information, to have access to your records.
We have adopted and implemented physical, electronic and procedural safeguards and security practices to ensure that your information remains confidential as required by law, the Privacy Policy and our Guidelines of Business Conduct. Our employees are responsible of complying with the Privacy Policy and we have adopted and implemented discipline procedures to process employees for breach of their duty to protect the security and confidentiality of your records.
III. Information Sharing:
In the course of conducting our business we may share your personal information with other members of our corporate family, known as affiliates. For example, Scotiabank of Puerto Rico, Inc., Scotia Insurance of Puerto Rico, Inc. and the Puerto Rico branches of The Bank of Nova Scotia are some of the affiliates that we may share information.
We will not disclose personal information about you with nonaffiliated third parties, except as permitted by law. A nonaffiliated third party is a company that is not part of our corporate family.
According to the law, we may exchange your information with credit reporting agencies to maximize the accuracy and security of your information. Also, in the performance of bona fide corporate due diligence or business matter, we may disclose your information to other nonaffiliated third parties such as government agencies, regulators, financial service providers and other non-financial companies we hold agreements with.
Also, the law permit us to disclose the information we collect to companies that perform marketing services for us or that function on our behalf, and to other financial institutions with whom we have joint agreements. In the agreement we require to these companies to maintain the confidentiality of the information shared.
Therefore, we will share your information only if:
- You consent to it;
- We are required or allowed to do so by law (i.e. subpoena, investigation of fraudulent activity, regulators request, etc.);
- Our disclosure is necessary to aid in the completion of a transaction initiated by you. Otherwise, we will not share your information.
IV. Opt Out Option:
If you prefer we do not share your personal information with our affiliates, simply complete the Opt Out Request included hereunder and mail it to us to the following address: PO Box 362230, San Juan, PR 00936-2230*. Even if you exercise your right to opt out we can share certain information with our affiliates as permitted by law. In the case of joint accounts, each account holder must exercise the opt out right separately. Your request will be valid until you revoke it in writing.
Opt Out Request
Client Name: ___________________________________
Social Security Number: __________________________
Address: _______________________________________
______________________________________________
*The Opt Out Request will take approximately 4 weeks to take effect. If you already sent the Opt Out Request you do not have to send it again. |
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