Personal information collected, recorded, and provided by us
In order to serve you as a customer, we need personal data. Here you can see how we collect, record and provide such information.
Collection of personal data from you as a customer and from others
The personal data that we collect about you will generally come from you as our customer. When we enter into an agreement with you, we will record information about you and other people related to the agreement, such as agents We will also record information about people we have decided not to enter into agreements with for so we can inform them of the refusal and possibly to document the matter later, e.g. to show that our refusal of deposits and payment orders was objectively justified.
If we wish to obtain information from you that is not necessary to manage the contractual relationship, we will first inform you that it is optional to disclose the information and what the information will be used for.
Sometimes we collect information from others, e.g. from sources in public and private institutions. This may include market-related or demographic data, which we collect from The National Registry and The Land Register.
Disclosure of personal data
By disclosure of personal data, we mean transfer to other institutions that have the right to use the information. Transfer of personal information to our data processors is not considered as disclosure.
Within SpareBank 1
The personal data processed by the banks and companies within SpareBank 1 is confidential. This also applies between the companies in SpareBank 1. Some information may nevertheless be shared internally between the businesses within SpareBank 1 which are finance companies. This includes ‘neutral’ customer information such as name, date of birth, address and contact information, details of which SpareBank 1 company you are a customer of, and which services and products you have signed agreements for.
SpareBank 1 also wants to share many of your details in order for the individual companies to better tailor their advice and offers to you. In such cases, we will ask your consent to us doing so. Read more about consent here.
We will also provide personal data to other companies in the group, where this is necessary to satisfy group-level management, control and/or reporting requirements laid down in or pursuant to the law.
To other private and public enterprises
Registered personal data will only be provided to public authorities and other third parties where required by statutory disclosure obligations or rights. If it is allowed and we do not breach confidentiality, personal data may be provided to other banks, insurance companies, finance companies and partners. An example might be if you want to view your account information in a different bank. In order to execute transactions in a secure manner, we may also disclose information to third parties in a payment transaction.
For payments to or from abroad we will provide similar personal data to the foreign bank. It is the laws of the recipient country that determine the degree to which the information is disclosed to government agencies or regulatory bodies. This could be to comply with the recipient country’s tax laws, measures against money laundering or terrorist financing.
About foreign tax liabilities
Norway has entered into an agreement with the United States on mutual tax reporting, known as the Foreign Account Tax Compliance Act (FATCA). Under the agreement, Norwegian financial institutions are required to identify and report US citizens and persons resident in the USA for tax purposes to Norwegian tax authorities. You can find more information on FATCA on the websites of the US Internal Revenue Service or the Norwegian Tax Administration.
According to the Norwegian Directorate of Taxation, those with a duty of disclosure are required from 1 January 2016 to identify account holders resident in other countries for tax purposes, also known as CRS (Common Reporting Standard). New accounts cannot be created until the applicant’s declaration has been obtained and reviewed. Read more about CRS from the Norwegian Tax Administration.
Use of data processors
SpareBank 1 has signed agreements with providers on data processing. Our own data processor agreements govern all personal data shared with our providers. SpareBank 1 also uses providers outside the EU/EEA. In cases where we use providers outside the EU/EEA, we enter into EU standard contracts with data processors who handle personal information. Our providers may not use the data for any purpose other than what it has been collected for.