Privacy Policy

1 Preface

In this policy, the terms “we”, “us”, “our” refer to Nedsom Financial Services, the “controller”, a foundation under Dutch law, registered in the Chamber of Commerce under number 32088878 and registered at Kamp 71, 3811AP Amersfoort. The terms “you” and “your” refer to you, our customer and also the data subject whose personal data are processed.

We are committed to protecting and respecting your privacy. This privacy policy explains what information we collect about you or you provide to us, what we use it for and who we share it with, in accordance with the General Data Protection Regulation (GDPR). The privacy policy also describes your rights and how you can contact us for more information. Please read the following carefully to gain insight into our principles and working method regarding your personal data and how we handle it. Keep an eye on this page to stay informed of changes and updates regarding our privacy policy.

What we collect / process

The personal data we collect and process may include the following data:

  • Information that you provide to us when using our services, including your name, date of birth, address, contact information (email address, telephone number), payment details (account number, credit card number) and proof of your identity (passport, ID card or drivers license etc.)
  • To provide our services, we also ask you for information from third parties, such as the name and contact details of the sender
  • Information about your use of our services, including your transaction history, how you use our services to send or receive money (computer, app, mobile, etc.) and to whom you send money
  • Additional information from you or third parties to help prevent or detect crime or to help fight fraud, money laundering and terrorist financing
  • We also collect information about your computer, operating system and browser to ensure that you display our website and its contents in the best possible way. We also use this data for internal operations, such as problem solving, data analysis, testing, research and for statistical and research purposes.

How We Use Your Information

Our main purpose for collecting information is to provide you with a smooth, safe and efficient service. We also have this information for the following reasons:

  • For processing your transactions
  • To verify your identity
  • Inform you about changes to our services
  • So that we can collect your payment
  • To provide you with information about the transactions you have made or other information about our services
  • To notify you of marketing news, offers or other updates
  • To be able to further improve our service, so that it suits you even more
  • To combat fraud
  • To comply with anti-money laundering and terrorist financing laws and regulations.

4 Legal basis for processing your personal data

In order to comply with our legal obligations, we are required to collect your personal information. We need this information to verify your identity. Furthermore, we are legally obliged to keep the transaction data and communication with you for a certain period of time.

We process your personal data and from relevant third parties to fulfill our agreements with you and to offer our services in the best possible way. For example, we need this information to process your transaction and to collect your payment.

We process your personal data and from relevant third parties to fulfill our agreements with you and to offer our services in the best possible way. For example, we need this information to process your transaction and to collect your payment.

5 Sharing your information

  • With external service providers who assist us in our business activities, such as transaction processing, fraud prevention, communication, support and marketing. These service providers may only use your personal information if it is necessary to provide these services to us
  • In order to comply with our legal obligations, we can share the data with legal authorities. However, this only after a formal request, as well as in case of suspected fraud or illegal activities
  • With companies that we have commissioned to provide services to or for us
  • In case of a possible investment and restructuring
  • We will not share your information for commercial purposes, unless you have given explicit permission for this.

6 How we protect your data

We take the protection of your data seriously and take appropriate measures to prevent misuse, loss, unauthorized access, unwanted disclosure and unauthorized modification. For example, when you enter your bank details, this data is always encrypted.

7 Send data outside the EEA

Personal data that you provide through our website or app is sent to and stored on secure servers owned or managed by us in the European Economic Area (EEA). Such data may be sent to or stored at a destination outside the EEA and may also be processed by partners outside the EEA who work for us or for one of our service providers. Such transfers may be made to provide our services, improve our service, or assist in our security and fraud protection activities.

When recipients are located outside the EEA, we will ensure that they provide an adequate level of protection for your personal data or that the transfer is permitted on the one hand under applicable data protection laws, e.g. by using standard contractual clauses approved by the European Commission, by relying on a relevant adequacy decision from the European Commission or on other legal grounds in accordance with applicable law.

8 How long we keep your data

The duration of storage may vary depending on the purpose for which your data is used. We will only keep the information we collect about you for as long as necessary for the aforementioned purposes, or as required to comply with legal obligations imposed on us. In general, we are required to keep our customer records including all information for up to five years after a customers most recent transaction.

9 Your data, your rights

You always have the right to:

  • Be informed about how we use your data
  • Change or amend your information if you believe it to be incorrect or inaccurate.
  • Submit a request for access to or receipt of the personal data you have shared with us and transfer it elsewhere
  • Object to and / or limit the processing of your personal data under certain circumstances
  • In order not to be subject to decisions made exclusively by automated means

You can always contact us regarding these rights. Please note that there are certain exceptions to which you cannot invoke certain rights, by laws and regulations that apply to regulated financial institutions like us.

10 Use of cookies

By using our services, you agree to our use of cookies on this site.

A cookie is a small text file that is stored on your computer or phone to identify your web browser or to store information or settings in your web browser. We use cookies to identify and analyze which pages a user has visited, which helps us improve our service and tailor it to the individual user. The information is used to improve the user experience, as well as for statistical and marketing purposes.

Cookies never give us access to your computer or any information about you, other than the data you choose to share with us. You can choose to accept or decline cookies. If you no longer want to accept the use of cookies, you can change this in the settings of your web browser. You can also choose to delete persistent cookies stored on your hard drive. If you refuse cookies, this may prevent you from making optimal use of our services.

11 Links to other sites

Our website may contain links to other websites. We are not responsible for the privacy practices or the content of these other websites. As soon as you go to another website via our website, you are bound by the conditions of that website. We encourage you to familiarize yourself with the privacy practices of these other sites before providing your personal information to them.

12 Contact

If you have any questions, requests or comments about this privacy policy or the use of your personal information, please contact us by email: [email protected]

If you believe that we have not handled your question, request or concern adequately, you have the right to lodge a complaint with the national supervisory authority, the Dutch Data Protection Authority. You can do this via the following link:

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