Data protection for Clients
The following notices provide you, as a client or authorized agent and possibly as a beneficial owner, an overview of the personal data collected by Zuger Kantonalbank («ZugerKB»), how it processes this information and what rights you have.
Data processing/Data protection officer of ZugerKBResponsible for data processing is:
If you have any questions or other concerns regarding the processing of your data by ZugerKB, please contact the following office:
Data protection officer
Types of personal data
ZugerKB collects and processes personal data about you, depending on the products or services that you may obtain from ZugerKB. Below you will find an overview of the most important categories of processed personal data:
- identification data (e.g., name, date of birth, nationality, copy of your identity card or passport), contact data (e.g., address, telephone number, e-mail address), family circumstances (e.g., marital status, marital property regime), financial circumstances (e.g., total assets), occupation and education, information on the business relationship (e.g., signatures, powers of attorney, contracts), health data (e.g., information regarding legal capacity), information on your relatives and acquaintances (e.g., name of spouse or children, name of acquaintances);
- identifiers that we assign to you, such as your client or account number;
- details of our mutual business relationship and the products and services you use;
- tax domicile and other tax relevant documents and information;
- financial information (e.g., payments, transaction data, financial circumstances, financial statements, financial obligations, taxes, income, profits and capital investments, investment objectives, information on debt collection, collateral, financing objects);
- knowledge and experience in investment issues, investor profile and investment strategy;
- if applicable, records of telephone conversations between you and ZugerKB;
- data relating to the use of e-banking and mobile banking (e.g., log files);
- and in some cases, where necessary to perform the contract and permitted by law, specific categories of personal data such as information relating to criminal convictions or offences, political attitudes or affiliations, information about your health, religion.
If relevant with regards to the products and services we provide to you, ZugerKB will also collect information about additional card holders or additional account holders, business partners (including other shareholders or beneficial owners), dependent persons or family members, agents and representatives. If you are a corporate or institutional client or investor, we will also collect information about your directors and officers. Before providing this information to ZugerKB, you should inform such persons of the processing of their data by ZugerKB.
ZugerKB processes data which you, your agents, representatives or business partners (e.g., members of the board of directors, co-owners of simple partnerships or joint ventures) communicate to us in the course of the business relationship. In addition, ZugerKB collects data that is communicated to us by third parties for the execution of orders, for the fulfillment of contracts or with your consent, such as from third party banks, operators of settlement systems, pension funds, pension and vested benefits foundations, insurance companies, land registries, debt collection and bankruptcy offices, the Central Office for Credit Information (ZEK), Information Office for Consumer Credit (IKO) or card issuers. The data may also originate from official bodies and authorities (e.g., courts, child and adult protection authorities, public prosecutor's offices), which are communicated to us by them in the course of their activities. ZugerKB also collects data that we have obtained directly from publicly accessible sources or through specialized service providers, such as from the media, the internet, the commercial register, the land registry and from sanction and embargo lists, credit reference agencies.
Legal basis and purpose of data processing
ZugerKB processes personal data primarily in order to perform our contractual obligations towards you in connection with the services and products of ZugerKB, to examine a possible business relationship, and to terminate a business relationship. The purpose of the data processing depends on the specific service or the specific product and can include, among other things, consulting, asset management, financing and execution of transactions as well as invoicing.
However, ZugerKB also processes personal data to safeguard its own legitimate interests and those of third parties, in particular for the following purposes: Ensuring IT security, asserting legal claims and defending in legal disputes, client segmentation, development of products and services, provision of service and product offers tailored to you, determination of creditworthiness and default risks, risk control and risk management, marketing, improvement of the technology used.
In addition, ZugerKB processes personal data for various purposes in order to fulfill its legal and regulatory obligations: e.g., combating money laundering and terrorist financing, prevention and investigation of criminal offences, identity checks, exchange of information with foreign tax authorities, credit checks, handling dormant assets.
Finally, based on your consent, we can process personal data for certain purposes (e.g., evaluation for marketing purposes). Your consent can be revoked at any time.
Recipients of personal data
Within ZugerKB, access to your data is granted to those persons who need your data to fulfill our contractual obligations and to provide our products and services. In addition to employees of ZugerKB, these persons also comprise service providers (e.g., in the areas of banking services, IT, logistics, printing, debt collection, consulting, sales, marketing) who have undertaken in writing to comply with data protection requirements and bank client confidentiality.
Based on contractual agreements and statutory provisions ZugerKB is obliged to comply with bank client confidentiality. Your personal data will therefore only be passed on to recipients outside ZugerKB on the basis of a statutory provision, with your consent, or if it is necessary for the execution of your transactions. Subject to such conditions, your data can be disclosed to the following recipient categories:
- public bodies and institutions due to a legal obligation: e.g., Federal Financial Market Supervisory Authority (FINMA), Swiss National Bank, Money Laundering Reporting Office, courts, public prosecutor's offices, child and adult protection authorities (KESB), tax authorities, Central Office for Credit Information (ZEK), Information Office for Consumer Credit (IKO), Banking Ombudsman, audit firms and review companies;
- credit and financial services institutions or other institutions or service providers to whom we transfer personal data for the execution of the business relationship (e.g., correspondent banks, stock exchanges and trading platforms, brokers and counterparties, custodians, payment card issuers, payment and securities trade settlement agencies, vested benefits foundations, pension funds, share registers of third party companies, service providers for the administration and safekeeping of collateral (Pfandbriefzentrale) credit and credit reference agencies);
- beneficiaries, agents and other parties involved in a transaction.
Transfer of data abroad
Your personal data will be transferred abroad if it is required for the execution of your orders (e.g., payment and securities orders), if it is required by law (e.g., automatic exchange of information in tax matters, administrative and mutual legal assistance to foreign authorities) or if you have given your consent.
ZugerKB partially processes personal data automatically in order to evaluate certain personal characteristics («profiling»). For example, profiling is used as follows:
- data analyses carried out to combat money laundering, terrorist financing and pecuniary crimes (e.g., in payment transactions);
- for targeted communication and advertising, including market research and the determination of the offering of products and services;
- as part of the credit check in order to assess the creditworthiness and to calculate the affordability.
Duration of storing of data
ZugerKB stores your personal data as long as it is necessary for the fulfillment of contractual, legal or regulatory obligations. Data processing will continue beyond this time period if legal or regulatory retention periods require it (e.g., in accordance with the Swiss Code of Obligations, Anti-Money Laundering Act, various legislations regarding taxes, in connection with dormant assets) or if ZugerKB requires the data for the assertion, exercise or defense of its own legal claims. If the purpose of the storage no longer exists, the personal data will be deleted to as for as this is technically possible.
Your rights in connection with data protection
Every person concerned has the right of access, the right of rectification, the right of erasure, the right of restriction of the processing and the right to oppose or to revoke the consent given with regard to the data concerning it, within the framework of the applicable data protection law and to the extent provided for therein. In addition, you have the right of appeal with the responsible data protection authority.
Last update on: 19.08.2019