www.118118money.com is operated by 118 118 Money, which is the trading name of Madison CF UK Limited (Company No: 08393840; Registered office: Fusion Point, Dumballs Road, Cardiff CF10 5BF). We are part of the kgb group of companies, which includes 118 118 and Conduit Global, all together the “Group”.
118 118 Money is authorised and regulated by the Financial Conduct Authority (FRN: 741774). You can confirm our registration on the Financial Conduct Authority’s website www.the-fca.org.uk or by contacting the Financial Conduct Authority on 0800 111 6768.
We comply with data protection legislation such as the Data Protection Act 1998. This regulates the processing of personal data relating to you and grants you various rights in respect of your personal data.
The aim of this policy is to tell you how we will collect, use and retain any personal data you provide to us.
2. USING QUICKCHECK
If you use our QuickCheck option to see if you might be eligible for a product (such as a loan or a credit card) from us (without it affecting your credit rating), by submitting your details via QuickCheck you are agreeing that:
- We can check your credit record (you’ll be able to see our search on your credit file, but other organisations won’t be able to see it which means that it will not impact your credit rating). We will use our search, together with the information you have provided to tell you if we’re likely to accept you for our product(s), solely on a credit basis using our own credit scoring methods.
- Following the QuickCheck, we’ll tell you if you’re likely to be accepted by us for our product(s) , but this is not an offer of credit. If, following the QuickCheck, you decide to complete your application for product(s) from us we will run further checks (including a credit check which other organisations will be able to see on your credit file) and, if:
- we find certain information on fraud prevention databases or we can’t verify your identity or other information you’ve given us; or
- based on the information you’ve given us we don’t believe that the product is affordable or sustainable for you;
- As we are a finance broker (as well as being a lender), if we are not able to offer you one of our products, we may, with your consent, pass your information to Monevo Limited may use your information to assist you in a finding an alternative appropriate product which meets your needs.
we will not be able to offer you the product(s).
3. HOW WE COLLECT AND USE YOUR PERSONAL INFORMATION
You do not have to give us any personal data in order to use most of our website (www.118118money.com). If you are 18 or over and you wish to apply for one of our product(s), then we will need to collect certain information from you. References to “you” in this policy mean you as the account holder, plus any additional cardholder that you request to be added to your account (if you hold a credit card account with us). Your personal information will be held securely so that we and any other companies in our Group that you have dealings with, either now or in the future, can manage your relationship with us. This will include information you provide when you apply to us, and any additional information provided by you or others in various ways, including and without limitation:
- In applications, emails and letters, during telephone calls and conversations which we may record and/or monitor for quality checks and staff training. Please note that these recordings may also be used to help us combat fraud, when registering for services, in customer surveys, when you participate in competitions and promotions, through our Group company websites, and during financial reviews and interviews.
- For analysis (for example, the amount frequency, location, origin, and recipient) of your payments and other transactions, and your use of our services;
- Information we receive from our business partners, and from other organisations such as Credit Reference Agencies (“CRAs”) and fraud prevention agencies;
- In addition, if you download our mobile application(s) or use our website, we may collect information about your use of them including, where available, your IP address, operating system and browser type and the type of device(s) you use – for system administration, fraud prevention and product development; and
- Any information we can gather on any publicly available social media websites including and without limitations Facebook, Twitter and LinkedIn.
- As part of our checks in respect of your application for one of our product(s), we may also ask you to supply your bank statements in order to verify your identity and/or to verify details of your income and expenditure. If we ask you for your bank statements, we will tell you how to supply these to securely to us directly or we may offer you the option to supply them to us using MOGObankconnect (which is a free of charge service offered by CallCredit (a CRA) which enables us to see the transactions on your bank account securely) – for more information on this service, please see www.callcredit.co.uk/consumer-solutions/mogo-bank-connect.
The information we collect allows us to:
- Verify your identity (and the identify of any additional cardholder you request) when you apply for or access our products and services;
- Check your eligibility when you apply for our product(s) or services
- Check and analyse your income and spending habits – our checks may also include checking anyone who is financially linked to you;
- Process your application (or to make counter offers or proposals) and provide services in relation to this website, including allowing you to monitor your account and repayments;
- Help you find alternative product(s). In addition to being a lender ourselves, we are also a finance broker and our services are often provided in conjunction with other partners, such as Monevo Limited and other lenders they work with. We would need to provide these partners with your information in order for them to help you find a suitable alternative product that meets your needs.
- Manage and communicate with you (including for example and without limitation, via telephone, email or SMS) about your application and/or product(s) with us;
- Investigate and respond to any enquiries and/or complaints about our product(s) and/or services; and
- Tell you about other services or products we can offer you and notify you about either important changes or developments to the features and operation of those products and services;
- administer offers, competitions, rewards and promotions; and
- undertake financial reviews.
We may also use the information to:
- Administer, update, consolidate, improve and manage the accuracy of our records and our business including but not limited to meeting legal, regulatory and compliance requirements and operating rules (such as anti-money laundering, regulatory reporting requirements and record maintenance);
- Monitor and analyse the use of any account to detect, prevent, investigate, prosecute and/or report fraud, terrorism, misrepresentation, security incidents or crime;
- Trace your whereabouts and recover any debt you owe;
- Gather management information to form statistical, modelling and trend analysis with the aim of developing and improving products and services; and
- Share with any person to whom we sell, merge or transfer (or enter into negotiations to sell, merge or transfer) our business or part or all of our business or assets or enter into a merger with it. If so, we may disclose your personal information to a potential buyer, transferee, or merger partner or seller and their advisers so long as they agree to keep it confidential and to use it only to consider the possible transaction. If the transaction goes ahead, the buyers, transferee or merger partner may use or disclose your personal information in the same way as set out in this notice.
By sharing this information it enables us, and other companies within our Group, and our service providers and agents to better understand your needs and run your accounts in the efficient way that you expect. We will treat your personal information as private and confidential.
Such service providers and agents may include, without limitation, third parties who carry out underwriting and analysis, hosting, maintenance, sanction screening, identity and fraud prevention checking, call centre operations, or provide other services in relation to ourwebsite or mobile application(s). We may share your information with our Group and disclose it outside of our Group if:
- needed by our agents, advisers or others involved in managing accounts and services for you or collecting what you owe to us;
- needed by contractors and/or subcontractors to help us manage your products, accounts or records;
- required by HM Revenue & Customs or other authorities;
- requested by law, regulatory bodies, or the public interest permits;
- required by us or others to investigate or prevent crime;
- needed by market research companies to assist us in providing better products and services for you;
- required by any other parties who may be connected with your accounts; and
- required as part of our duty to protect your accounts, for example we are required to disclose your information to the UK Financial Services Compensation Scheme (FSCS).
We will always ensure your information remains safe and secure.
By applying for product(s) with us, you expressly consent to your personal information being shared electronically with our external business partners for the purposes set out in this policy (including, but not limited to, CRAs, fraud prevention agencies, credit brokers, and debt collection agencies).
Your data may also be used for other purposes for which you give your specific permission, or, in very limited circumstances, when required by law or where permitted under the terms of the Data Protection Act 1998.
The government also requires us to screen applications that are made to us to ensure we are complying with the international fight against terrorism and other criminal activities. As a result of this we may need to disclose information to government bodies.
The Data Protection Act defines certain information as ‘sensitive’ (racial or ethnic origin, political opinions, religious beliefs, trade union membership, physical or mental health, sexual life, criminal proceedings and offences). When you apply to us for our product(s) and, as part of managing any product(s) you have with us, we may ask you for some ‘sensitive’ details. We will only use this information to provide the service you require or help to manage your product(s) and/or account appropriately and we will ask for your explicit consent. As a customer, there may be times when you give us sensitive information. We may share it with other parts of the kgb Group and our service providers to keep your records up to date. All countries in the European Economic Area (EEA), which includes the UK, have similar standards of legal protection for your personal information. Your personal information may be transferred to the recipients identified above in countries outside the EEA (such as the USA and the Philippines for example, if you’ve got a loan with us, we use our call centre in the Philippines for customer service calls, payment reminder calls, payment collections calls and to obtain outstanding documentation from our loan customers) that do not have a similar standard of data protection laws to the UK. If so, we will require your personal information to be protected to at least UK standards.
A. USING CREDIT SCORING
When you apply for product(s) from us, we use both a manual and an automated system known as credit scoring to determine your eligibility for the product(s). It is a method of assessing your likely conduct of an account based on a range of data, including the conduct of previous similar accounts. It is a system widely used by credit providers to help make fair and informed decisions on lending.
Credit scoring takes into account of information usually from three sources – the information you provide in connection with your application, information provided by searches conducted at CRAs and fraud prevention agencies, and information that may already be held about you by us or companies in our Group. A credit scoring system will consider information from these sources to make an overall assessment of your application. This assessment will extend to anyone with whom you are linked financially or other members of your household. The information we obtain may be used for debt tracing, analysing your income and spending habits, together with the prevention of fraud or money laundering as well as the management of our service to you. If you provide a credit or debit card as part of your application or as part of a continuous payment authority, we may also use a third party(ies) to check the validity of the sort code, account code and card number that you submit in order to prevent fraud. The information you provide us will be transferred to CRAs and fraud prevention agencies who will record details of any search whether or not your application succeeds.
The credit scoring methods used are regularly tested to ensure they remain fair, effective and unbiased. Using a credit scoring system helps us to lend responsibly. If you submit an application and it is declined through any of these processes, you can contact us within 30 days to have the decision reconsidered.
B. USING CREDIT REFERENCE AGENCIES
By submitting an application for our product(s), you are authorising us to analyse the information you provide to assess your financial status, determine your chances of being accepted for the product(s) and identify and, where applicable, rank the most appropriate – products for you, taking into account your personal circumstances. In addition, you understand that we will use CRAs who will make credit searches and will pass your information to CRAs (such as Callcredit Limited and Experian Limited). These agencies will record details of any search whether or not your application succeeds. The CRAs will keep a record of this search and place a “footprint” on your credit file, whether or not the application proceeds. You can access your www.callcredit.co.uk and www.experian.co.uk. They supply us with both public (including the electoral register) and shared credit and fraud prevention information.
You have the right to apply to the CRAs for a copy of your file. We use different agencies and be aware that the information they hold may not be the same and there is a small fee that you may need to pay to each agency that you apply to. Their addresses are:
Experian Consumer Help Service, PO Box 9000, Nottingham NG80 7WP or call 0844 481 8000 or log on to www.experian.co.uk
Callcredit Consumer Services Team, PO Box 491, Leeds LS3 1WZ or call 0870 060 1414 or log on to www.callcredit.co.uk.
Any and/all information may be used to assess your application, check your identity, assess your management of your income, analyse your spending habits, for debt tracing and the prevention of fraud or money laundering, as well as the management of our products and services to you and your account(s) with us. We will give details of your accounts and how you manage it/them to CRAs. This information may be supplied to other organisations by CRAs and fraud prevention agencies to perform similar checks and to trace your whereabouts and recover debts that you owe. We may also ask CRAs to give us information about you.
CRAs collect and maintain information about consumers’ and businesses’ credit behaviour. This includes Electoral Register, fraud prevention, and credit information – including without limitation, details of previous applications and the conduct of your accounts – and public information such as County Court Judgments, decrees, and bankruptcies.
The information we provide CRAs together with any information you provided us to assess your application may be shared between us, the CRAs and fraud prevention agencies and used by them and us to:
- Help them make decisions, for example when:
- checking details on applications made by you;
- managing your accounts;
- recovering debt; and
- checking details of job applicants and employees;
- detect and prevent crime, fraud and money laundering;
- check your credit history;
- analyse your income;
- assess your spending habits;
- verify your identity if you apply, or someone financially linked with you applies, for products or services;
- trace your whereabouts; and
- undertake research, statistical analysis and systems testing;
- manage your accounts, for example, in the event that we are considering, or you ask us to consider, changing your credit limit;
- to see if you might be eligible for other product(s) of ours that you might be interested in.
If, in respect of any of the product(s) you have with us, you do not pay the required amount due from you or you do not pay the required amount due on time, we may give details of your account and how you conduct it to CRAs. Other organisations may see these searches and updates if you apply for credit in the future, and these may affect your ability to borrow from other lenders. We may also make periodic searches at CRAs to manage your account with us.
C. USING FRAUD PREVENTION AGENCIES
As part of our due diligence when assessing your application, we have systems that protect our customers and ourselves against fraud and other crime. Customer information can be used to prevent crime and trace those responsible. We will share your personal information from your application with fraud prevention agencies. If false or inaccurate information is provided and fraud is identified, details of this fraud will be passed to these agencies. We and other organisations may access and use from other countries the information recorded by fraud prevention agencies. Law enforcement agencies may access and use this information. We and other organisations may also access and use this information to prevent fraud and money laundering, for example and without limitation, when
- checking details on applications for credit and credit related or other facilities;
- managing credit and credit related accounts or facilities;
- recovering debt;
- checking details on proposals and claims for all types of insurance; and
- checking details of job applicants and employees.
We may also make periodic searches at fraud prevention agencies to manage your account with us.
The Fraud Prevention Agency that we use is CIFAS, with registered office at 6th Floor Lynton House, 7-12 Tavistock Square, London, WC1H 9LT. You can contact CIFAS at https://www.cifas.org.uk/contact_us.
D. HOW WE CHECK YOUR IDENTITY
In addition to the information provided on your application and the information we receive as a result of our searches with the CRAs and the fraud prevention agencies, we may ask you to provide physical forms of identification when you apply for a product with us.
E. MARKETING COMMUNICATIONS
From time to time, we may wish (with your agreement) to contact you by email, SMS, post or phone with information about other products or services which may be of interest to you. Where your application has been declined, we may (with your agreement) share your details with other carefully selected financial organisations that may be able to offer alternative product(s) that may be suitable for you, such as Monevo Limited. We will only transfer your personal data to third parties for marketing purposes with your express opt-in consent to do so.
4. RETENTION OF YOUR PERSONAL INFORMATION
How long we keep your information for depends on the basis on which it was provided. Generally, however, we will keep the information that is necessary to enable us to provide you with a service that you have requested through this website for as long as it takes us to provide that service.
If you have asked that we do not use your details for marketing purposes, we may still need to keep them to ensure our systems reflect your preferences.
We will generally keep records of any transactions you enter into on this website for a minimum of 6.5 years from the end of the relationship. This is so that we can respond to any complaints or disputes that arise in that period. Otherwise we will keep the information where appropriate for legitimate business needs.
We will keep other information about you if it is necessary for us to do so to comply with the law, or where appropriate for legitimate business needs. For any marketing purposes for which you consented to, we shall keep your information no longer than it is necessary to comply with this objective.
Cookies are small files of numbers and letters which are stored on your browser or hard drive (if you agree), and contain information which will be stored on your hard drive. Cookies are used across the internet on many websites to distinguish one visitor from another. Cookies do not identify you as an individual, just the device you used to reach our website, be it a mobile phone, tablet, laptop or computer. Cookies and other similar technology make it easier for you to log on to and use our website during future visits.
To find out more about cookies and how to stop these being stored on your device, please visit: www.allaboutcookies.org or see www.youronlinechoices.eu which contains further information about behavioural advertising and online privacy.
The following cookies are in use on our website:
- Strictly necessary cookies
These are required for the operation of our website and enable you to log into secure areas of our website.
- Analytical / performance cookies
These cookies allow us to distinguish and count the number of visitors landing on our site, and how they move from one page to another when on our site. This then helps us to understand how users are using our site and to make it better in future.
- Functionality cookies
These allow us to recognise your device when it is used to visit our site again, and are used to personalise your visit.
- Targeting cookies
When you visit our site, these cookies record the visit, the pages you have looked at and where you went next. A number of third party cookies are on our site, which allow us to reach out to you again on other sites to encourage you to come back to our site.
More information about the cookies we use on our site and the purpose for which we use them are below.
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Our website (www.118118money.com) contains links to other websites over which we have no control. We are not responsible for privacy policies or practices of other websites to which you choose to link from our website. We encourage you to review the privacy policies of those other websites so you can understand how they collect, use and share your information.
7. YOUR RIGHT TO ACCESS INFORMATION
You are entitled to see the information held about you. We may require you to verify your identity and to pay an administration fee (currently, £10) to provide a copy of the information we hold. Please note that in certain circumstances we may withhold access to your information where we have the right to do so by law.
8. UPDATING YOUR INFORMATION
10. CONTACTING US
If you have any questions about this statement or your personal information and/or if you wish to see what information we hold about you, please contact the Data Protection Officer on 08000 118 000 or 02920 8933008 or 118 118 Money, Fusion Point, Dumballs Road, Cardiff, CF10 5BF.
If you no longer wish to receive any marketing communications or share your details, please contact us:
By phone: 08000 118 000 is free from UK landlines and mobiles. 02920 893300 is charged by your provider as UK national number
By mail: 118 118 Money, Fusion Point, Dumballs Road, Cardiff, CF10 5BF
By email: CustomerServices@118118money.com