Privacy Agreement

Privacy Agreement

Wealth One Bank of Canada (variously “Wealth One™”, “We”, “Our”, “Us” or the “Bank”) is committed to protecting the privacy of all Personal Information obtained in the course of conducting its business. The principles underlying this commitment are outlined in this Privacy Agreement (this “Agreement”). “You” and “your” mean an individual who has made application to Us for, enrolled in or signed an application in respect of any personal or business banking, insurance, brokerage or financial product or service offered by Us (“Service”), including any co-applicants, guarantors or personal representatives.

This Agreement has been designed to comply with the Personal Information Protection and Electronic Documents Act (“PIPEDA”) and applicable corresponding provincial privacy legislation. This Agreement explains the types of Personal Information We collect, how it is used, and the steps We have taken to ensure that your Information is handled in a safe and secure manner. The term “Personal Information” means any information that can be used to identify an individual (i.e. personal or financial details). This Personal Information may be collected from You, from your interactions with Us, and from other sources outside Our organization including government agencies and registries, law enforcement authorities, public records, credit reporting agencies, other financial institutions, service providers, agents and other organizations with whom You have arrangements, or any other source with your consent or as permitted or required by law.

Protecting your privacy is important to Wealth One. With this in mind, We are providing this Agreement to explain Our practices regarding the collection, use, and disclosure of information that We receive through Our banking Services. This Agreement does not apply to any third party websites, services, or applications, even if they are accessible through any of Our Services.

Wealth One uses third party Service providers to process and store the Personal Information We collect from Our clients. This Personal Information may be stored on servers located outside of Canada. As such, this information may be available to the government or agencies of that country under a lawful order made in that country. Wealth One remains accountable for all information We collect. We take steps to ensure that Personal Information sent to or shared with any foreign jurisdiction for processing or storage will be safeguarded, used, disclosed, and disposed of in a way that is compliant with Canadian federal and provincial privacy laws as well as with Wealth One internal privacy policies. Personal Information will be used only in keeping with the purpose of its initial collection.

By signing up for a Wealth One account, You agree to the terms of this Agreement.

Principles

This Agreement is designed to comply with the requirements of PIPEDA, which sets out the ten (10) privacy principles that are described below. All employees of Wealth One have a responsibility to implement, comply and maintain these principles at all times.

1. Accountability: Wealth One is dedicated to protecting the privacy of the personal, business and financial information under its control. This is a fundamental practice that is implemented throughout the Bank. For this purpose, Wealth One has a designated Chief Privacy Officer. 
2. Identifying Purposes: The purposes for which personal information is collected shall be identified by Wealth One at or before the time the information is collected.
3. Consent: The knowledge and consent of a client are required for the collection, use or disclosure of Personal Information, except where permitted by law. Wealth One will make a reasonable effort to make sure You understand how your Personal Information will be used, and will obtain your consent before or at the time We collect or use your Personal Information. Your consent can be express, implied, or given through an authorized representative. Subject to legal, regulatory and contractual requirements, You may withdraw your consent to Our collection, use or disclosure of your Personal Information. However, depending on the circumstances, the withdrawal of your consent may prevent Us from providing You or continuing to provide You with some Services or information that may be of value to You. In addition, You should be aware that We may collect, use or share your Personal Information without your knowledge or consent in exceptional circumstances where such collection, use or disclosure is permitted or required by law. For example, We may collect, use or share your Personal Information to investigate a breach of an agreement or law, in response to a demand, search warrant or court order We believe to be valid, to realize on security pledged, or to investigate and deter fraud.
4. Collection: The collection of personal information shall be limited to that which is necessary for the purpose identified by Wealth One. Information shall only be collected by fair and lawful means.
5. Use and Disclosure: Personal Information shall not be used or disclosed by Wealth One for purposes other than that for which it was collected, or use that is consistent with that purpose, except with the consent of the individual or as required by law. Under certain exceptional circumstances, Wealth One has a legal duty or right to share your Personal Information without your consent to protect Wealth One’s interest or the public interest. 
6. Accuracy: Personal Information shall be accurate and kept as up to date as is reasonably possible, and necessary for the purposes for which Wealth One has collected it. Wealth One will make a reasonable effort to keep your Personal Information up to date, accurate and relevant for its intended use. However, We also rely on You to tell Us when your information changes. You may, in writing, request access to your Personal Information to verify its accuracy and completeness and request that it be amended as appropriate. To access your Personal Information, please contact the Chief Privacy Officer as directed in the 'Contacting Us' section below.
7. Safeguarding: All personal information shall be protected by Wealth One by using safeguards appropriate to the sensitivity of the information. Such safeguards include: physical and electronic security measures, organizational processes and contractual obligations with third parties. In addition, privacy is a part of Our job descriptions, and all employees are trained on the importance of protecting your personal information.
8. Openness: Wealth One shall make readily available to individuals specific information about its policies and practices relating to the management of Personal Information.
9. Individual's Access: Upon written request to Wealth One, an individual shall be informed of the existence, use and disclosure of his or her Personal Information and shall be given access to that information. An individual shall have the right to challenge Wealth One with regard to accuracy and completeness of the information and to have it amended as appropriate.
   In certain situations, however, We may not be able to give You access to all your personal information. In these situations, We will, except where prohibited by law, explain the reasons for this lack of access and advise You of any recourse You may have.
   There may be a charge for retrieving some information about You, and if so, We will notify You before processing your request so You have an opportunity to withdraw it. If You wish, You may also challenge the reasonableness of the charge.
10. Challenging Compliance: An individual shall be able to address a challenge concerning compliance with any of these principles to the designated individual or individuals accountable for Wealth One’s compliance with these principles, in accordance with the procedures outlined in this Agreement. Wealth One will respond to your questions, concerns and complaints in a timely manner, typically within thirty (30) days. If We need to extend the time, or if We refuse your request, We will tell You why and/or notify You of the new deadline.

YOU ACKNOWLEDGE THAT WE MAY REVISE THIS AGREEMENT AND ANY OF OUR PRIVACY POLICIES FROM TIME TO TIME. SHOULD ANY MATERIAL CHANGES BE MADE, INCLUDING A CHANGE THAT WILL HAVE RETROACTIVE EFFECT, WE WILL NOTIFY YOU OF SUCH CHANGES BY POSTING THEM ON OUR WEBSITE, OR BY SENDING YOU AN EMAIL OR OTHER NOTIFICATION. ADDITIONALLY THE WEBSITE POSTING WILL REFLECT WHEN THOSE CHANGES WERE MADE.

Collecting your Personal Information

When You apply for, or provide a guarantee in respect of, or use any product or Service while You are Our current or former client, We may collect and confirm Personal Information about You such as:

• information establishing your identity, such as your name, address, occupation, date of birth and other identification required by law;
• information about your financial status including your annual income, assets, liabilities and credit history;
• information reflecting your business dealings with Us;
• information about your transactions, including payment history and account activity;
• information about your browsing activity, browser and device;
• information about beneficial owners, intermediaries and other parties that is required by law;
• other information that We may need in order to provide You with a specific product or Service (i.e. personal health information for insurance-related products which may be offered to You);
• U.S. Person Status (to comply with regulatory requirements); and
• other information with your consent, or as permitted or required by law.

Using your Personal Information

• We may use this Personal Information from time to time in order to:
  
  verify your identity, including checking your name against Canadian and foreign watch lists;
• evaluate your current and ongoing creditworthiness, including by obtaining credit reports from time to time;
• evaluate and process your application, account, transaction and reports;
• provide You with products and Services You have requested;
• communicate with You generally, including to respond to your inquiries;
• understand your product and Service requirements;
• market a product or Service, either directly or through an affiliate;
• determine your eligibility for certain of Our products and Services and offer them to You;
• help manage and assess Our risks, operations and relationship with You;
• protect against fraud and error;
• collect amounts owing to Us;
• maintain the accuracy and integrity of information held by a credit reporting agency; and
• comply with legal, regulatory, governmental and contractual requirements.

We may also use your Personal Information for other purposes with your consent or as required or permitted by law.

Disclosing your Personal Information

We may share your Personal Information with third party organizations and Service providers as necessary for the purposes outlined above and/or to offer You a product or Service. If your Personal Information is shared with third parties, these third parties will be bound by appropriate agreements with the Bank to protect your Personal Information.

We may share your Personal Information:

• with Our employees, agents, Service providers and any other entities that perform Services for You or for Us or on Our behalf (collectively, 'Service providers'). You acknowledge that some of Our Service providers may be located outside of Canada and as such your Personal Information may be accessible to governmental, national security and regulatory authorities in accordance with the laws of these jurisdictions;
• with other financial institutions to process payments or to verify information such as your identity;
• with payment card networks in order to operate or administer the payment card system that supports the products, Services or accounts You may have with Us;
• in response to a court order, search warrant or other demand or request We believe to be valid;
• to meet requests for information from regulators;
• to satisfy legal, audit, insurance, self-regulatory and regulatory requirements applicable to Us;
• in any negotiations for the sale or assignment or proposed sale or assignment of all or part of Our business or assets including the sale of mortgages, and to Our successors and assigns who may use the information for similar purposes as those described in this Agreement;
• with any person or organization, including an investigative body, in order to prevent, detect or suppress financial abuse, fraud, criminal activity, protect Our assets and interests, assist Us with any internal or external investigation into potentially illegal or suspicious activity or manage, defend or settle any actual or potential loss;
• to help Us collect a debt or enforce an obligation owed to Us by You;
• with your consent; and
• where permitted or required by law.

Additional Collections, Use and Disclosure

Information Collected Using Cookies and other Web Technologies

Like many website operators, We may use automated data collection tools such as Cookies and Web Beacons to collect certain information on Our Site.

“Cookies” are small text files that are placed on your hard drive by a Web server when You access Our Services. We may use both session Cookies and persistent Cookies to identify that You have logged in to the Services and to tell Us how and when You interact with Our Services. We may also use Cookies to monitor aggregate usage and web traffic routing on Our Services and to customize and improve Our Services. Session Cookies are deleted when You log off from the Services and close the browser. Persistent Cookies remain on your computer and will identify how You use the Services over time. Although most browsers automatically accept Cookies, You can change your browser options to stop automatically accepting Cookies or to prompt You before accepting Cookies. Please note, however, that if You don’t accept Cookies, You may not be able to access all portions or features of the Services. Some third party Services providers that We engage may also place their own Cookies on your hard drive.

“Web Beacons” (also known as web bugs, pixel tags, or clear GIFs) are tiny graphics with a unique identifier that may be included on Our Services for several purposes. For example, We may use Web Beacons to deliver or communicate with Cookies, to track and measure the performance of Our Services, to monitor how many visitors view Our Services, and to monitor the effectiveness of Our advertising. Unlike Cookies, which are stored on the user’s hard drive, Web Beacons are typically embedded invisibly on web pages (or in an e-mail).

Information Related to Use of the Services

Our servers automatically record certain information about how a person uses Our Services (We refer to this information as “Log Data”). Log Data may include information such as a User’s Internet Protocol (IP) address, user agent, browser type, operating system, the web page that a User was visiting before accessing Our Services, the pages or features of Our Services to which a User browsed and the time spent on those pages or features, search terms, the links on Our Services that a User clicked on, and other statistics. We use Log Data to administer the Services and We analyze (and may engage third parties to analyze) Log Data to improve, customize, and enhance Our Services by expanding their features and functionality and tailoring them to Our Users’ needs and preferences. We may use a person’s Log Data and other information to generate aggregate, non-identifying information about how Our Services are used and use such aggregated information to understand and improve Our Services and to administer use of the Services. If We engage a third party to analyze the Log Data, We will ensure that such third party is bound by contractual terms requiring it to process such Log Data.

Information Sent by your Mobile Device

We collect certain information that your mobile device sends when You use Our Services, like a device identifier, user settings, and the operating system of your device, as well as information about your use of Our Services while using the mobile device. We may use this information to provide the Services and to improve and personalize Our Services for You.

Information Shared with Our Service Providers

We may engage third party service providers to work with Us to administer and provide the Services. These third party service providers have access only for the purpose of performing services on Our behalf and are expressly obligated to secure your Personal Information and not disclose or use your Personal Information for any other purpose.

Social Insurance Number ('SIN'): We may collect, use and disclose your Social Insurance Number (SIN) for income tax reporting purposes, as required by law. For products that earn interest or dividend income, We require your SIN. In addition, We may ask You for your SIN to verify and report credit information to credit bureaus and credit reporting agencies as well as to confirm your identity. This allows Us to keep your Personal Information separate from that of other clients, particularly those with similar names, and helps maintain the integrity and accuracy of your personal information. You may refuse to consent to its collection, use or disclosure for purposes other than as required by law.

Verification of Information: We may verify Personal Information (including employment status) You give Us with credit bureaus, credit insurers, registries, financial Service industry databases, investigative bodies, your employer and the references You provide to Us and You authorize such persons to provide Personal Information to Us for this purpose.

Credit Consent: If You have a savings account, GIC, loan, mortgage, guarantee or any other product with Us, We may, from time to time, use, give to, obtain, verify, share and exchange credit and other information about You with others including credit bureaus, mortgage insurers, creditor insurers, registries and other persons with whom You may have financial dealings, as well as any other person as may be permitted or required by law, at the time of your application and any time during the application process and on an ongoing basis while You are a client, for the purposes of evaluating your current and ongoing creditworthiness and maintaining your credit history.

Insured Credit Product: If You have an insured credit product (i.e. a mortgage) with Us, We may share Personal Information about You, including credit information, to mortgage default insurers for any purpose related to mortgage insurance.

Information retained by Canada Mortgage Housing Corporation will be subject to federal access to information and privacy legislation.

Defaults
If the credit facility You have with Us or You have guaranteed is in default, We may release your Personal Information to collection agencies, the originating broker or any subsequent mortgagee, or other third parties as necessary for the purposes of assisting in collecting the debt. We will limit the amount and type of Personal Information disclosed to that which is necessary to facilitate the collection of the arrears.

Personal Health Information

From time to time You may provide Us with your personal health information in connection with insurance products and Services associated with credit products You have with Us. We may collect personal health information from, or share personal health information with any health-care professional, medically-related facility, insurance company, organizations who manage public information data banks or insurance information bureaus. We will not share your personal health information within the Bank or use it in a manner other than the original intent disclosed to You.

Note that We will not refuse You any product or Service on the basis of any personal health information You have provided to Us.

Personal health information includes items such as your age, weight, height, medical history, physical exams, habits, allergies, vital signs, race, laboratory results, drug levels, adverse events/reactions to medication and insurance claim history which includes instances of decline, termination, complaints and/or litigation.

Additional Forms

To provide You with a convenient method for applying for savings accounts and GICs and for accessing other Wealth One products and services such as Registered Savings Plans, We may provide secure online application forms. These forms capture personal information that We use to provide You with the products and services You request. This information is processed in a similar way to application forms received through Our other channels.

Communications

We may monitor and/or record any communications between You and Our representatives (i.e., telephone discussions, email conversations, online chats) for accuracy, training, Our mutual protection and to enhance Our customer Service.

Protecting your Personal Information

We have implemented organizational, technological and physical safeguards to protect the security of Personal Information under Our control in a manner that is appropriate to the sensitivity of your Personal Information. These safeguards are intended to protect the security of Personal Information, regardless of the format in which it is held, against loss or theft, and against unauthorized access, disclosure, copying, use or modification. Authorized employees, agents and mandataries will have access to your Personal Information in order to perform their job functions.

If your Personal Information is shared with Service providers, they will be bound by appropriate agreements with the Bank holding them to the same high standards by which We are governed.

Please be aware, however, that no method of transmitting information over the Internet or storing information is completely secure. Accordingly, We cannot guarantee the absolute security of any information.

Links to Other Sites

Our Services may contain links to websites and services that are owned or operated by third parties. Any information that You provide on or to a third party service or that is collected by a third party service is provided directly to the owner or operator of the third party service and is subject to the owner’s or operator’s privacy agreement. We are not responsible for the content, privacy, or security practices and policies of any third party service. To protect your information We recommend that You carefully review the privacy policies of all third party services that You access via Our Services.

Accessing and Updating your Personal Information

Your Personal Information will be accessible by Our authorized employees, agents and mandataries. You are responsible for advising the Bank of any inaccuracies or changes to your Personal Information, such as changes of address, telephone number, marital status. If any of your Personal Information changes or becomes inaccurate or out of date, You are required to advise Us so We can update Our records. Please be prepared to verify your identity when updating or changing your Personal Information.

Subject to contractual and legal restrictions, as well as reasonable notice, You may request access to or a correction of the Personal Information We hold about You at any time, subject to contractual and legal restrictions and reasonable notice, by submitting a request to the Chief Privacy Officer in writing. Please be prepared to verify your identity upon making such a request. We will respond to your access request within thirty (30) days of receiving all necessary information, or advise You if We require additional time.

Please note that We may not be able to provide You access to your Personal Information in certain situations (i.e., if disclosing the information would reveal confidential commercial information or information about a third party). If this is the case, We will inform You of the reasons that We were unable to provide You access.

Retaining Personal Information and Disposition

We will retain your Personal Information only as long as it is required for the reasons it was collected. This may include customer service, legal or regulatory needs that require Us to keep your Personal Information beyond the end of your relationship with Us.

When your Personal Information is no longer required, We will securely destroy it or convert it to an anonymous form. Following termination or deactivation of Our Services to You, We, Our affiliates, or third party service providers may retain information, including your profile information and user content for a commercially reasonable time period for backup, archival, and/or audit purposes. If You have any questions about termination or deactivation of your Services, please contact Us directly at privacy@wealthonebank.ca

Electronic Communications

In addition to mail and fax, We may communicate with You via electronic messages including text, email, sound, voice or image messages to your electronic mail, instant messaging, or to a similar account regarding Our products and Services or to fulfill legal obligations.

You have the right to notify us to stop sending You such electronic communications.

General email is not secure since it passes through many points on its route from You to Us. If You are using general email to communicate with Us, We strongly recommend that You do not include personal financial information (such as account numbers) within the email, as We cannot guarantee its confidentiality on its route to Us. We would like to remind You that Wealth One will never open any attachments or links You may send Us through email or any other electronic forms of communication.

When You email Us your comments, questions or instructions, You provide Us your email address and We will use this address to correspond with You; your email and Our replies will be stored for any future correspondence with You.

Refusing or Withdrawing Consent

Subject to legal, regulatory and contractual requirements, You can refuse to consent to Our collection, use or disclosure of Personal Information about You, or You may withdraw your consent to Our further collection, use or disclosure of Personal Information at any time in the future by giving Us reasonable notice.

Depending on the circumstances, however, withdrawal of your consent may prevent Us from providing You or continuing to provide You with some products and Services or information that may be of value to You.

If You have a credit product, such as a mortgage with Us or have provided a guarantee to Us, You may not, during the term of the facility, withdraw your consent to Our ongoing collection, use or disclosure of your Personal Information in connection with such product. We can continue to disclose your Personal Information to credit bureaus even after the credit facility has matured and been paid out and You may not withdraw your consent to Our doing so. We do this to help maintain the accuracy, completeness and integrity of the credit reporting system.

We will act on your instructions as quickly as is reasonably possible, but there may be certain uses of your Personal Information that We may not be able to stop immediately.

You cannot refuse or withdraw consent to Our collection, use and disclosure of Personal Information required by law or by Our regulators, including self-regulatory organizations.

You can ask Us at any time to stop using Personal Information about You to promote Our products and Services.

Your Choices

We offer You choices regarding the collection, use, and sharing of your Personal Information and We will respect the choices You make. Please note that if You decide not to provide Us with your Personal Information that We request, You may not be able to access some or all of the features of the Services.

Rescinding your Consent.

You have the right to refuse further collection, use, and/or disclosure of your Personal Information by notifying Us. If You have consented to your access to and use of the Services but wish to rescind such consent, please contact Us in accordance with the “Contacting Us” section below to submit the request. We will promptly discontinue your access to and use of the Services and ensure that your Personal Information is no longer publicly accessible through the Services. Please note, however, that if You refuse further collection, use, and/or disclosure of your Personal Information, You may not be able to access and use all, or a portion of, the Services.

Opt-Out

If You subscribe to Our mailing list, We will periodically send You free newsletters and emails that directly promote Our Services. When You receive such promotional communications from Us, You will have the opportunity to opt-out either through your Services or by following the unsubscribe instructions provided in the e-mail You receive. We will need to send You certain communications regarding the Services and You will not be able to opt-out of those communications (i.e., communications regarding updates to this Agreement).

Accessing, Modifying, and Deleting your Personal Information.

If You want Us to modify or delete your Personal Information, or discontinue the provision of your Personal Information to third parties, please contact Us in accordance with the “Contacting Us” section below with your request. We will take steps to modify or delete your information as soon We can. Please note, however, that some information may remain in archived/backup copies for Our records or as otherwise required or permitted by applicable law.

Contacting Us

We are committed to providing You with clear and easily available information about how We manage your Personal Information.

To request access to, or correction of, your Personal Information, to ask questions about Our privacy policies or to refuse or withdraw your consent to Our use of your Personal Information for purposes outlined in this Agreement, You may send a written request or contact Us at:

Chief Privacy Officer
Wealth One Bank of Canada
18 King Street East
Suite 1002
Toronto, ON M5C 1C4
Telephone: 416.222.8008
Toll Free: 1.866.312.1088
Email: privacy@wealthonebank.ca

We will use Our reasonable endeavors to address any complaint You may have as soon as possible.