Privacy Policy

Privacy Policy

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Please note that this privacy policy will regularly be updated to reflect any changes in the way we handle your personal data or any changes in applicable laws.

 

This Privacy Policy describes how AMBI Expansioner AG (hereinafter “AMBI” “we”,“us”, “our”, “ourselves”) collects and processes your personal information (“you”, “your”) through our websites and applications that reference this Privacy Policy. By using the services provided by AMBI (“ Services”), you are consenting to the collection, storage, processing, and transfer of your personal information as described in this Privacy Policy.

 

  1. SCOPE OF OUR PRIVACY POLICY:

 

  • This Privacy Policy describes how AMBI collects, uses, stores, shares, and protects your Personal Data whenever you use Services through the Website or or by corresponding with us (for example by email or by filling messaging forms on the Website).
  • Personal data collected by AMBI are processed in accordance with the laws of Switzerland. All employees, agents, and employees of the agents of AMBI who have access to Personal data are not permitted to disseminate or transmit any Personal Data even after termination of the employment or contractual relationship.
  • For the processing of Personal data, AMBI may, at its sole and absolute discretion, engage data processors and/or hire other persons to perform certain functions on behalf of AMBI. In such cases, AMBI shall take necessary measures to ensure that such data is processed by the Personal data processors in accordance with instructions of AMBI and applicable legislation. AMBI shall also require the Personal data processors to implement appropriate measures for the security of Personal data. In such cases, AMBI shall ensure that such persons will be subject to non-disclosure obligations and will not use this information for any other purpose, except to the extent necessary to perform the functions assigned to them, or to comply with any legal or regulatory requirements/actions.
  • We assume that you have carefully read this document and accepted the terms set out hereunder. If you do not agree with this Privacy Policy, then you should refrain from using our Services or opening an Account. This Privacy Policy is an integral part of AMBI’s Terms of Use.
  • We may change this Privacy Policy from time to time. We will post any Privacy Policy changes on the Website and update you via email about changes made. Continued use of AMBI’s Website and/or Services implies your acceptance of the revised Privacy Policy. If you do not consent to the changes made to the Privacy Policy, you should cease all usage of the Services and take necessary action to close your Account.
  • AMBI reserves the right, at its sole discretion to alter the provisions of the Privacy Policy. When visiting this website, you have a responsibility to make sure that you are familiar with the latest version of the Privacy Policy that applies to you at the time you are visiting the website
  • AMBI respects the individual’s right to privacy and makes all reasonable efforts to ensure the security and confidentiality of Personal data and other information processed on this Website and Mobile App.
  • You may visit our Website without having to provide any information about yourself. However, if you want to open an Account, utilise AMBI Services and/or use other payment services offered by AMBI, AMBI will ask you to provide Personal data indicated in the system and to carry out established identification procedures.
  1. PERSONAL DATA WE COLLECT

 

  • General

To provide you with access to AMBI Account and Services thereof, AMBI is bound by law to establish and verify your identity prior to entering financial services transactions with you. AMBI may from time to time, request further information from you, assess such information and store this information for the retention period set out by legislation. Taking this into account, you must provide correct and complete information upon our request, at all times, in order to access the AMBI Account and Services. Personal Data is collected and used during 3 principal steps: registration, identity verification and the use of AMBI Account and Services.

 

  • Processing of registration data
    • In the registration process we collect your email address and telephone number. Submission of the aforementioned Personal data is mandatory for your registration. Failure to provide your email address/telephone number or decision to delete or object to processing of email address/telephone number will result in the rejection of your registration.
  • To finalize your registration you will have to confirm your email address provided after the respective message is sent to it.
  • After providing Personal data for registration, you can continue with an application for opening the Account. For this purpose we need to request more information to meet legal and regulatory obligations. To proceed with the Account opening you should provide us your additional Personal Data, which may include data as such: Name, Surname, Date of birth, personal code, Residential Address, Correspondence address for delivery of Debit Card (if different from residential address), mobile phone number, ID document number (national identification card/Passport Number/Itinerary document), ID document number expiry Date, Nationality, Occupation, Source of Funds, account number, copy of identification document (ID/Passport/Itinerary document), photo, signature, IP address, and any other information you provide us in order to prove your eligibility to use our services. Submission of herein mentioned Personal data is mandatory for Account to be created and opened. Failure to provide mentioned Personal data will lead to dismissal of application for account opening.
  • To open the Account we need to know what expected activities for which you intend to utilize the Account. Therefore, during the process of opening your AMBI Account you must determine and indicate such activities and provide details of it. Such information is collected and processed to comply with legal and regulatory obligations. Sometimes we need to request more information to identify you or to meet legal and regulatory obligations. When that is necessary, you will be prompted to provide such information and shall provide such information should you wish to utilize the Account and/or AMBI Services.
  • If you contact us, we will keep a record of that correspondence (i.e. date of the letter, subject, the content of the correspondence, etc.).
  • Personal data collected by AMBI in the Registration step is used for the following purposes:
  • Account opening;
  • Client identification;
  • Client risk assessment (mandatory under the applicable laws);
  • To provide Clients with technical support;
  • To update Clients about upcoming changes or improvements of Website and/or Mobile APP;
  • Provide Clients with information regarding changes of any terms or conditions applicable to them or Services they use;
  • any other important information.
  • AMBI processes Client’s registration data on the legal basis of:
  • Your consent, expressed when voluntarily submitting your Personal Data details which are not mandatory; and
  • contacting our service center via e-mail Conclusion and performance of contractual arrangements and obligations between AMBI and the Client;
  • for compliance with legal and regulatory obligations to which AMBI is subject.
  • You may at any time edit, update, or delete your contact details by emailing us at: [insert URL]. Please note that you will be able to request deletion of your contact details and other registration data only if there is no legal obligation for AMBI to preserve such data by the applicable laws, if AMBI is satisfied that you have not breached any applicable laws, or if you no longer intend to utilize the Account or the AMBI Services.
  • Processing of Client verification data
    • We verify your identity by the Personal data you provide during registration. For verification purposes we also rely on verification services, managed, and provided to us by our service providers.
    • While exercising this verification step, you will be requested to upload your identification documents and undergo facial verification according to said identification documents. For the aforementioned purposes we receive and rely on our service providers to confirm if your identity is verified. Please note, that under the applicable laws AMBI is obligated to collect and store all data received during Client identification and verification process. Therefore, scanned copies of ID documents, data related to facial recognition and other information will be stored by AMBI in accordance with this Privacy Policy and applicable legislation.
    • AMBI may request that you provide further information (i. e. information on your participation in politics, information for the completion of our enhanced due diligence, or such other information related to your source of funds) that will allow AMBI to reasonably identify you and verify your identity. AMBI reserves the right to contact you and request to provide more information or approve that provided information is up-to-date and valid.
    • AMBI processes the above-mentioned Personal data used for Client’s verification to comply with regulatory and legal obligations as well as to ensure that Clients are not attempting to create additional Accounts or to commit fraudulent actions. Refusal to undergo ID and facial verification will terminate your Account opening process.
    • Processing of your ID document, facial verification data, by our third-party service providers or uploaded to any third-party database as described above, is covered by third parties’ privacy policies. All Personal data you provide for the verification process shall be provided directly by you to our service provider performing your verification and therefore processing of such data shall be covered by the policies of such service provider. You should carefully review privacy policies of such service providers before starting the verification process.
  • Processing of data generated while using a Mobile App
    • To provide quality user experience for you we create a possibility to use our Services through the Mobile App. While you are using our Mobile App we collect and process data, which includes (but is not limited to):
  • your login history;
  • history and other information of your actions while using Mobile app to:
  • device geolocation.
  • IP address.
  • device info (name, model, operating system, unique ID.

Our collection of the abovementioned is to (i) ensure the functionality of the Mobile App and to provide further updates and improvements, (ii) ensure compliance with a legal obligation; and (iii) ensure that there is no security breach.

 

  • Processing of data generated while using AMBI Account
    • While you are using our Services and Account, we are collecting the following information:
  • History of transactions (date, information of payer and payee, i. e. name, surname, account number, purpose of transaction, amount of transaction) ;
  • Messaging history, including, but not limited to, claims and complaints made by you is processed due to the performance of obligations regarding provision of Services, our responses to you, names of messages, the dates of messages. Please note that we identify you by the email which you have submitted during the registration process. When you submit your request, you should always provide your email. Otherwise, we will not be able to identify you properly and submit the information requested by you or to fulfil your request;
  • Your behavior while using Account (your clicks, visited sections)
  • Your payment card information: date of issue and expiry date to provide you Services;
  • Message content: if you include a message with your payments, the content of that massage is stored by AMBI;
  • Cookies: like most Websites and mobile applications we use cookies. Please see information on cookies we use in our terms of use.
  • AMBI processes Personal Data collected through your usage of the Services and Account on the following legal basis:
  • Conclusion and performance of contractual arrangements and obligations between AMBI and the Client; and
  • Pursuance of legitimate interests of AMBI, as controller and manager of Webpage platform;
  • for compliance with legal and regulatory obligations to which AMBI is subject.
  • Personal data of other individuals
    • In providing personal data of any individual other than yourself to us during the use of our Services, you agree that you have obtained consent from such individual to disclose their personal data for collection and use. By providing such Personal data to us you bear all the responsibility towards such individuals if you have not received proper consents for such provision and you undertake to indemnify us for any liability which may appear due to unlawful provision and/or disclosure of personal data.
  1. DEVELOPING THE WEBSITE AND MOBILE SERVICES

We use Personal data to conduct research and development of our Website, Mobile App and Services to provide you and others with a better, more intuitive, and personalized experience, driving membership growth.

 

  • Client support

We use Personal data to keep in touch with you to provide you with customer service, notify you on news and updates, and provide you with security notices or information.

 

  • Security and investigations

We use Personal data for security, fraud prevention and investigations. We use your Personal data (including your communications) if we think it is necessary for security purposes or to investigate possible fraud or other violations of our Terms of Services, this Privacy Policy, implementing the regulatory and legal obligations. We may ask you to provide any additional information which we think may influence the process of investigation or examination of your complaint / request.

 

  • Profiling

Profiling carried out by AMBI involves processing of personal data by automated means for compliance with legal and regulatory obligations relating to risk management and continuous and periodic monitoring of transactions to prevent fraud. Such ongoing profiling is based on legitimate interests of AMBI, the performance of AMBI’s legal obligations and the to ensure the Client’s compliance with our terms of use.

 

  • Providing information on similar products and services
    • When you sign up to AMBI, we give you the opportunity to opt in to offers and promotions. If you choose to opt in, we then use your data to tailor offers to you, according to your preferences. You can opt out again at any time by going to the Settings in your app or browser. You can adjust your preferences or tell us you do not want to hear from us, at any time. We will not pass your details on to any outside organizations for their marketing purposes without your permission.
    • When we use social media for marketing, your information may be shared with social media platforms, who may use it to check if you also hold an account with them. If you do, we may ask the advertising partner or social-media provider to:
    • use your information to send our adverts to you when we think you might like one of our new products;
    • not send you our adverts, because you already used the service advertised;
    • advertise to people with a similar profile to you (e.g. if one of our services might appeal to someone with interests like yours).
    • If you want us to stop sharing your personal information for marketing purposes, just let us know via the AMBI website or app, or by emailing [insert email]. You can also manage your marketing preferences directly with the social media platforms you are signed up to.
  • Third Party Information

We will combine this information with information we have collected about you and we will use this information to help us better understand your financial circumstances and behavior so that we may make decisions about how we manage your Account and to decide about whether to agree to approve application on Account opening.

 

  1. PERSONAL DATA RECEIVED FROM THIRD PARTIES

 

  • We collect and receive your Personal data from yourself, as well as from the following sources:
  • We work closely with third parties to help us deliver our Service to you. These third parties are business partners, sub-contractors in technical, payment and delivery services, advertising networks, analytics providers, search information providers, credit reference agencies, fraud prevention agencies, customer service providers and developers. Information we may collect about you from such parties can include credit search information, information which helps us to verify your identity or information relating to your payment transactions.
  • Other legal sources, such as public registers, internet search engines, public sources such as social media.
  • If you are a beneficial owner, shareholder, representative or employee of a corporate client, we are required to obtain your Personal data to fulfill legal and regulatory obligations. Your Personal data may be provided to us by yourself or the representatives of the company . Personal data received under this clause is processed in accordance with the provisions of this Privacy policy and you have all the rights of the Data subject listed herein in this Privacy policy and in the applicable laws.
  1. HOW WE SHARE PERSONAL DATA
  • To provide you with the Services and meet our legal and regulatory obligations, we use third parties’ services, and such third parties use personal data in delivering their services to us. Therefore we may share the information we collect about you with our service providers (Data processors) such as:
  • Cloud storage/servers’ providers, who we engage to store your data safely and securely.
  • Card issuing institutions, with whom we work with to provide you with a credit/debit card to use our Services.
  • Identification and verification services providers,to verify your identity.
  • Auditors, accountants, and lawyers, for the purposes of financial, technical, and legal audits of AMBI operations.
  • Other service providers with whom we have concluded service provision agreements or when such sharing is mandatory according to applicable law.
  • We only use the services of those data processors which ensure safeguards and use technical and organizational security measures equivalent to the ones required by EU General Data Protection Regulation.
  • The data that we collect from you will be transferred to, and stored at, a destination inside the European Economic Area (EEA).
  • Personal data may be processed outside of the EEA for us to fulfill our contractual obligations towards you to provide the Services. We will need to process your personal data provided to us, for isntance, to execute a request made by you for an international payment, process your payment details, provide global anti-money laundering and counter terrorist financing solutions, and provide ongoing support services. We will take all steps to ensure that your data is treated securely and in accordance with this privacy policy.
  • Our Legal Obligation to Use or Disclose Personal Data

As a regulated financial institution, we may need to share your Personal Data to state and public authorities. We will only do so when we are legally required to provide information or when we need to take legal action to defend our rights, as well as situations where we believe in good faith that access, use, preservation or disclosure of the information is reasonably necessary to meet any applicable law, regulation, legal process or enforceable governmental request, enforce applicable Terms of Services, including investigation of potential violations, detect, prevent or otherwise address fraud, security or technical issues.

 

  • Others

AMBI may partner with other financial institutions, such as Banking, credit, and financial services partners, including banking partners, banking intermediaries, credit companies and international payments services providers,  in order to provide you Services. To meet legal and regulatory requirements we might be obligated to share your account details with such partners to the extent you transact or interact with customers of such partners.

 

  1. YOUR RIGHTS

 

  • You have a right to request a copy of the personal data we hold about you;
  • You have a right to request to correct incorrect / inaccurate information that enables you to correct any incomplete or inaccurate Personal data we hold about you. Please note that we may need to verify the accuracy of the new data you provide to us.
  • You have a right to request for a transfer of all or part of your Personal data. You may request that we provide you with your Personal data in a structured, commonly used, machine-readable format, which you can then transfer to another appropriate data controller. Note that this right only applies to automated information which you initially provided for us to use and consented for its use or where we used the information to perform a contract with you.
  • You have a right to ask us to delete or remove personal data where there is no good reason for us to process it, or if you have successfully exercised your right to object to processing (as described in clause 9.1 herein below). Please note that AMBI as a regulated financial institution is obligated under the applicable laws regarding prevention of money laundering and terrorist financing as well as applicable laws in Switzerland to retain certain information you have provided for several years, as indicated in certain legislation, therefore we may not always be able to comply with your request of erasure for the mentioned reasons. We will notify you at the time of your request if the situation is as described.
  • You have a right to ask us to suspend the processing of your personal data in the following cases: (a) if you want us to establish the data’s accuracy; (b) where our use of the data is unlawful but you do not want us to erase it; (c) where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims; (d) you have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it. Please note that such requests may lead to a situation that we may not be able to perform our contractual obligations towards you or enter a contract with you. If this would be the case, we will notify you about it.
  • You have a right to object to processing of Personal Data when processing is carried out based on legitimate interest. This right can be exercised in a situation where we are relying on our legitimate interest (or those of a third party) but in your situation such processing impacts on your fundamental rights and freedoms. You also have the right to object where we are processing your personal data for direct marketing purposes. Please note that AMBI as a regulated financial institution is obligated under the applicable laws regarding prevention of money laundering and terrorist financing to process your certain Personal data for compliance purposes, therefore in some cases, we may demonstrate that we have compelling legitimate grounds to process your Personal data which override your rights. Please note that requirements of the mentioned laws supersede any right to objection under applicable data protection laws. If you object to the processing of certain data, then we may not be able to provide you Services and it is likely we will have to terminate your account.
  • To exercise any of the rights mentioned above, please reach out to our client support team via email by filling out a request form on our Website or contact our Data Protection Officer at [insert email]. We may ask you to verify your identity and for more information regarding your request.
  1. HOW LONG DO WE KEEP YOUR DATA
  • AMBI as a regulated financial institution is obligated under the applicable laws regarding prevention of money laundering and terrorist financing to retain your Personal data for several years:
  • Client identification data and verification data – eight years after termination of the contract;
  • History of transactions – five years after termination of the contract relations.
  • We therefore use this retention requirement as a benchmark for all personal data that we receive from you. We will not hold any of your personal data for more than 8 years after the termination of our business relationship unless we are of the view it is absolutely necessary to do so.
  1. COMPLAINTS

 

  • You have the right to lodge a complaint to the national Data Protection Agency (DPA) in your country of residence in the event where your rights may have been infringed. We would, however, appreciate the chance to deal with your concerns before you approach the DPA and find a solution at your satisfaction. So please contact us in the first instance.
  • Please note that AMBI identifies you by personal data and e-mail address, which you have provided to AMBI when you signed up for the services. When you submit your request, always provide your personal details and send your request via the aforementioned email address. In other cases we will not be able to identify you properly and submit the information requested by you or to fulfil your request.
  1. AMBI DATA PROTECTION OFFICER (DPO)

 

  • Contact email: contact@ambiex.com who are responsible for matters relating to privacy and data protection.
  • If you have any further questions regarding the Personal data AMBI collects, or how we use it, then please feel free to contact the Data Protection Officer at the details as indicated above hereof.
AMBI Expansioner AG