General Data Protection Regulation
The key things you need to know about GDPR
The law is changing on 25 May 2018, and as a customer you will have more control over how your data is used. At Ikano Bank we are committed to giving our customers a safe and secure online banking experience. So let’s take a closer look at how the GDPR changes will impact you…
What is GDPR and what does it mean for me
You may have heard GDPR mentioned in the news or even had companies contact you about it. GDPR stands for the General Data Protection Regulation and it’s one of the biggest changes to UK privacy laws in the last 20 years.
You will have more control over your personal data
The changes on 25 May are all about giving you more control over how your data is used. This data can be something simple like your name and email address or more complex like biometric data. The purpose of GDPR is to ensure companies that hold your personal data process it correctly and protect that information. The fines a company can face for not protecting a customer’s personal information are very substantial.
You will have more control over who contacts you, and how
Over the last few months you may have noticed companies contacting you requesting permission to contact you in the future about their products and services. To comply with GDPR, these requests need to be really clear and straightforward. As a customer you get to choose what organisations contact you and how, for example by email, telephone or SMS.
If you give an organisation permission to contact you, it doesn’t mean you can’t change your mind in the future. Under the new rules, it should be easier to update your preferences on what you want to receive and how.
What happens next?
If you are an existing Ikano Bank customer, you will be asked how you would like to continue receiving updates from us on offers, products and features.
For example, if you are a New Look card customer we will contact you asking for permission to continue sending you card offers and promotions and how you would like to hear about other products and services from Ikano Bank.
If you are a new customer to Ikano Bank after the GDPR changes take effect, we will capture your permissions when you apply.
As a customer you will always have control over how we contact you, and you can update your preferences at any time by contacting our customer services team.
Your personal data will be kept safe
We will use your personal data to provide the best customer experience possible. This will means we will tailor content and customer experience to ensure it is relevant, useful and timely. When we use customer data we ensure we meet the strict regulatory requirements.
As part of the GDPR changes we have updated our general Privacy Notice and our Savings Privacy Notice.