1. Introduction
BANQAM is a financial technology platform and technology interface. This Privacy Policy describes how BANQAM collects, uses, processes, stores, protects and shares personal information when you:
- visit BANQAM
- create an account
- complete identity or business verification
- use payment or financial features
- connect external financial accounts
- use account funding or payout functionality
- use card-related functionality where available
- use merchant or commerce functionality
- communicate with customer support
Use of specific third-party financial services may also be governed by the privacy policies and terms of those providers. Where a regulated activity is involved, it may be provided by appropriately licensed third-party providers rather than by BANQAM directly.
BANQAM uses cookies and similar browser technologies. For details and controls, see our Cookie & Similar Technologies Policy
2. Information We Collect
We collect the following categories of personal information.
A. Account and Contact Information
- name
- email address
- telephone number
- country
- address
- account identifiers
- language preference
- authentication and security information
B. Identity and Business Verification Information
To meet legal and regulatory obligations, we may collect information required for identity (KYC) and business (KYB) verification, such as:
- legal name
- date of birth
- address
- nationality where legally required
- business information
- company registration information
- beneficial ownership information
- identity verification results
Identity verification may be performed through third-party providers such as Stripe Identity. Where a provider-hosted verification flow is available, BANQAM avoids unnecessary storage of identity documents.
C. Financial Information
Depending on the services you select, financial information may include:
- bank account information
- tokenized account identifiers
- account ownership information
- payment information
- payout destination information
- transaction references
- payment status
- funding information
- settlement information
BANQAM does not store full payment-card credentials (such as full card numbers or CVVs) unless this is technically and legally required for a specific service.
D. Connected Financial Accounts and Stripe Financial Connections
BANQAM may allow you to voluntarily connect an external financial account using Stripe Financial Connections. Where you enable and authorize this, BANQAM may request only the categories of financial account information necessary to provide the selected service.
For the current BANQAM implementation, the intended data access is limited to:
- tokenized account and routing/account information where supported
- account ownership information
The intended purposes include:
- verifying external bank accounts
- confirming account ownership
- facilitating legitimate bank payments
- facilitating payouts
- facilitating account funding or top-ups
- preventing fraud and account misuse
Connecting an external financial account is optional. We only request financial information necessary for the services you choose to use.
BANQAM does not access account balances or transaction history through Financial Connections unless those permissions are actually enabled and separately authorized by you. You must authorize the connection through the Stripe Financial Connections consent flow. Stripe may independently collect and process information according to Stripe's own privacy policy and applicable Financial Connections terms.
3. How We Use Information
We use personal information for purposes including:
- providing BANQAM services
- creating and maintaining user accounts
- authentication
- identity and business verification
- processing payments and payouts
- external bank account verification
- facilitating account funding
- providing financial account functionality where available
- fraud prevention
- security
- risk management
- regulatory and compliance obligations
- customer support
- service communications
- accounting and reconciliation
- audit trails
- dispute handling
- service improvement
- legal obligations
BANQAM does not use Financial Connections data for lending or creditworthiness decisions unless a separate service is introduced in the future with appropriate disclosure, legal basis and user authorization.
4. Legal Basis for Processing
Where the UK GDPR or GDPR applies, the lawful bases on which we may process personal information include:
- performance of a contract
- compliance with legal obligations
- legitimate interests
- user consent
Consent is not always the legal basis for every processing activity. The applicable legal basis depends on the nature of the service and the jurisdiction.
6. Stripe Services
BANQAM may use Stripe products including, where enabled:
- Stripe Payments
- Stripe Connect
- Stripe Identity
- Stripe Financial Connections
- Stripe Treasury or Financial Accounts functionality where available and approved
- Stripe Issuing where available and approved
No Stripe product is live or approved unless the corresponding production capability is actually enabled. Availability is subject to eligibility and approval.
7. User Consent for Connected Financial Accounts
Before BANQAM receives Financial Connections data:
- you choose to connect an account
- the purpose of the connection is displayed
- Stripe presents its consent interface
- you select and authorize the relevant financial account
- only permitted data categories are requested
Additional financial data permissions must not be silently added. If BANQAM later requests additional categories such as balances or transaction history, appropriate disclosure and authorization will be obtained before accessing them.
8. Data Storage and Data Residency
Certain financial data obtained through specific services may be subject to contractual or regulatory data-location requirements. BANQAM configures storage and processing arrangements according to the requirements applicable to the relevant service.
BANQAM prefers storing provider identifiers and tokens rather than unnecessary raw financial data, and is designed so that sensitive Financial Connections data can be stored separately from general application data if required.
9. Data Retention
Personal information is retained only for as long as reasonably necessary for:
- providing services
- regulatory obligations
- financial recordkeeping
- fraud prevention
- dispute handling
- security
- legal requirements
Financial Connections data is not retained longer than necessary for the disclosed purpose. BANQAM is designed to support configurable retention policies rather than permanent storage by default.
10. Data Security
We implement reasonable technical and organizational safeguards, including:
- encryption in transit
- secure authentication
- role-based access controls
- restricted administrative access
- audit logging
- monitoring
- secure provider integrations
- secrets management
11. User Rights
Depending on your jurisdiction, you may have privacy rights including:
- access
- correction
- deletion
- restriction
- objection
- portability
- withdrawal of consent where processing relies on consent
- complaint to the appropriate data protection authority
These rights are jurisdiction-dependent.
12. Disconnecting Financial Accounts
You may be able to disconnect connected financial accounts. Disconnecting an account may prevent future retrieval of data, but does not necessarily require deletion of records that BANQAM or its providers are legally required to retain.
A future Settings → Privacy & Security → Connected Financial Accounts area will provide this capability where the relevant integration supports it.
13. International Data Transfers
Providers may process information in countries different from your country. Where legally required, appropriate safeguards are used for international transfers.
BANQAM does not claim a specific transfer mechanism unless it has been verified for the relevant service.
14. Children
BANQAM financial services are not intended for children unless a specific legally compliant product expressly permits it.
15. Jurisdiction and Data Controllers
BANQAM is operated through separate legal entities in different jurisdictions. The entity that acts as data controller, or controller-equivalent, for your personal data depends on your jurisdiction, the service used and the applicable service flow.
- Türkiye: MTC ISTANBUL OTOMOTİV EMLAK E-TİCARET SANAYİ VE TİCARET LİMİTED ŞİRKETİ may act as the local data controller or controller-equivalent where applicable, with obligations under the Turkish Personal Data Protection Law (KVKK).
- United Kingdom: MTCUKHOLDING LTD, with obligations under the UK GDPR and the Data Protection Act 2018 where applicable.
- European Economic Area: GDPR obligations apply where applicable.
BANQAM does not claim a controller role that is not supported by the actual service flow. Where a regulated partner processes your data as a controller, that partner's privacy terms also apply.
16. Changes to This Policy
We may update this Privacy Policy from time to time. The Last Updated date above reflects the most recent revision. We maintain policy version history internally.
Continued use of BANQAM after a change constitutes acceptance of the updated policy where permitted by law.
17. Contact
For privacy and data protection enquiries, please contact BANQAM using the details below where configured.