Biometric Information Retention Schedule and Permanent Destruction Guidelines
What is Biometric Data?
Biometric data is identifying information related to your biometric characteristics which may be used to identify you. Examples of common forms of biometric data that you may use in your daily life include fingerprints, voiceprints, veins in your palm, facial recognition, and iris or retina recognition. When OFX talks about “Biometric Data”, we are referring to certain physical information we collect about you (such as a face scan) in order to identify you individually in order to provide you our resources and services available through our Website, applications and APIs (the “Services”).
How does OFX collect your Biometric Data?
When you sign up for an OFX account, you will provide certain Biometric Data. OFX uses a third party service provider, Onfido, to collect and store your Biometric Data for the purposes of identifying you. OFX does not collect, capture, receive or otherwise obtain your Biometric Data without notifying you in writing in advance or without your consent or without the consent of your legally authorized representative. You may decline to provide your Biometric Data. However, if you decline to provide Biometric Data, we will not be able to provide Services to you.
Is your Biometric Data secure?
How does OFX use your Biometric Data?
In order for you to use the Services, OFX uses Onfido to collect your Biometric Data, who will then compare it with the personal identification information you provided when you enrolled and signed up for your OFX account.
Does OFX share or sell your Biometric Data?
OFX does not sell, lease, or trade your Biometric Data to any third parties or derive any profit in such a manner. OFX will share your Biometric Data with Onfido as a third party service provider as is necessary to provide Services to you. We do not disclose, re-disclose or otherwise disseminate your Biometric Data without your request or consent or without the request or consent of your legally authorized representative. However, we may be compelled to disclose your Biometric Data in cases where such disclosure or re-disclosure is required by law, or when required pursuant to a valid warrant or subpoena issued by a court of competent jurisdiction.
How long does OFX keep your Biometric Data?
In order to deliver the Services to you, OFX uses your Biometric Data as long as you have an active account with OFX.You may request that we rectify or delete your Biometric Data by contacting us at firstname.lastname@example.org. Please note that any request to delete your Biometric Data will be subject to our legal obligations to retain such data for the required retention periods.
What happens to your Biometric Data after you close your account?
You may request OFX close your account at any time although you will be obliged to perform any outstanding transactions.
After closure of your account, OFX will keep your Biometric Data or maintain access to your Biometric Data for the retention period applicable to the region where you are registered. This period runs from your registration for an account (in circumstances where you have not transacted with us) or from closure of your account (where you have transacted with us).
The retention periods which apply are:
|European Economic Area and Switzerland||7 years|
|Hong Kong||7 years|
|United States||1 year|
At the end of the retention period, OFX will, or its service provider Onfido will, permanently destroy your Biometric Data.
Last Updated: 26 April 2021