Privacy policy

SBS Wealth Limited - privacy policy

1. General

In this privacy policy, the terms ‘we’, ‘us’, and ‘our’ refer to SBS Wealth Limited and/ or our parent SBS Bank (collectively, the ‘Bank’). We are bound by, and comply with, the Privacy Act 2020. If you are located in the EU, you may also have rights under the EU General Data Protection Regulation.

This privacy policy explains how we may collect, store, use, and disclose personal information that you provide to us. By accessing or using our website, applying for and using any of our products or services, or otherwise providing us with your personal information, you consent to our collecting, storing, using, and disclosing your personal information in the manner set out in this privacy policy. Please read our privacy policy in conjunction with any other terms and conditions that apply to the use of our website, products or services. 

2. Collection

You agree that we may collect the following types of personal information:

• your name, date of birth, email address, phone number, postal address, country of birth, and occupation;
• documentation (such as a passport or drivers licence number) and biometric information (such as an image of your face) where required to verify your identity;
• financial and asset information, such as your IRD number, tax status, source of wealth/funds, bank account details; and
• information about your interactions with the Bank.

Generally, we will collect your personal information directly from you, but we may also collect personal information from other sources where you have authorised us to do so, including obtaining personal information about you from SBS Bank and its related companies and independent identity verification providers. You may decide not to provide your personal information to us. However, if you do not provide it, we may not be able to provide you with access to certain information, products or services.

You can unsubscribe from any marketing communications from us by following the instructions on any communications sent to you.

When you visit our website, we may use automated tools and methods (such as cookies and sessions) to collect certain information about your visit, including, without limitation:

• the internet protocol address and domain name used by your computer to connect to the Internet;
• the operating system and the browser your computer uses, and any search engine or inbound hyperlink used to reach this website;
• the date, time, and duration of your visit; and
• the pages viewed by you.

This information may be used in aggregate form to analyse how this website is being used (for example to analyse usage patterns in order to improve this website). Except as set out in this privacy policy, we will not disclose any such information except in aggregate form.

We may gather more extensive information if we are concerned, for example, about abnormal website usage patterns or website security breaches.

3. Use and disclosure

We will not use or disclose your personal information except in accordance with the Privacy Act 2020 and as set out in this privacy policy. We may use your personal information to:

• assess and process any application you submit to us for our products or services;
• verify (or re-verify) your identity in accordance with our legal requirements under the Anti-Money Laundering and Counter Financing of Terrorism Act 2009, including accessing any database (including, without limitation, the New Zealand Transport Agency’s database of driver licences and the Department of Internal Affair’s database of passports) to verify identity information;
• provide you with our products and services, and marketing information on other products and services offered by us or SBS Bank or any of our respective related companies, subsidiaries or assignees;
• provide you with information (including promotional material and news) where you have agreed to receive such information;
• support the administration, operation, management, and marketing of your account and/or the SBS Wealth KiwiSaver Scheme, including but not limited to enabling decisions to be made regarding your application for any of our products or services;
• provide you with customer support;
• monitor your account to prevent and detect fraud; improve or update this website and our information and services;
• communicate with you including by way of email and other electronic or social media means, in connection with administering, financing, insuring or enforcing your accounts and any other product or service provided by the Bank to you;
• enable any party involved in your investments with us to discharge their respective administrative and regulatory obligations;
• comply with our legal obligations, including those relating to CRS and FATCA reporting requirements; and
• conduct market research, statistical analysis and analyse usage of this website.

We will not sell, rent, or lease your personal information to third parties except in accordance with the Privacy Act 2020 and as set out in this privacy policy. Your personal information may be disclosed to related companies of SBS Wealth, including SBS Bank and its related companies, subsidiaries and any assignees or potential assignees who may use the information for their own purposes.. We may also share personal information with:

• any joint account holder;
• any custodians, supervisors or administrators appointed by us in relation to our managed investment schemes;
• your adviser and any other person we recognise as having an interest in your investments with us;
• government agencies and regulators, including the Inland Revenue Department;
• debt collection agencies, and other providers of relevant professional services; and
• any agents or third parties who provide services to the Bank (including identity verification agencies such as Cloudcheck).

We will only use or disclose personal information that you have provided to us, or which we have obtained about you:

• for the above-mentioned purposes; or
• for other purposes authorised by you, including purposes outlined in any form you have completed; or
• if we believe that the use or disclosure is reasonably necessary to assist a law enforcement agency or an agency responsible for national security in the performance of their functions; or
• if we believe that the use or disclosure is reasonably necessary to enforce any legal rights we may have, or is reasonably necessary to protect the rights, property and safety of us, our customers, or others; or
• if we are otherwise required or permitted by law to use or disclose such information.

4. Storage and Security

Personal information is collected and stored by the Bank or its agents. We will take reasonable steps to protect personal information that is held by us from unauthorised access, use, disclosure, alteration, or destruction.

5. Third Party Websites

Our website may contain hyperlinks to websites operated by third parties. We are not responsible for the content of such websites, or the manner in which those websites collect, store, use, or distribute any personal information you provide. When you visit any third party website from a hyperlink displayed on this website, we encourage you to review the privacy statement of that website so that you can understand how the personal information you provide may be collected, stored, used, and disclosed.

6. Right to Access and Correct

You may request access to, or correction of, any personal information we hold about you by emailing our privacy officer at contact@sbswealth.co.nz or, if you have an account login, by using a facility on this website that allows you to access and correct personal information we hold about you. To ensure that the information we hold about you is accurate and current, please notify us of any changes to such information as soon as possible.

7. Changes to our privacy policy

We reserve the right, at our discretion, to alter this privacy policy at any time. Changes to this privacy policy will take effect immediately once they are published on our website. Please check this privacy policy regularly for modifications and updates. We will endeavour to give you 14 days’ prior notice of any material amendment to this privacy policy, unless an immediate change is required for security or regulatory compliance purposes.  If you continue to use our website, products or services, or if you otherwise provide us with any personal information after we post changes to this privacy policy, this will indicate your acknowledgement of any such changes.

This privacy policy was last updated on 2 September 2024.