Privacy Policy
What Personal Information Do We Collect?
How Do We Use Your Personal Information?
How Do We Share Your Personal Information?
How Do We Protect Your Personal Information?
Social Media and External Links
Changes to This Privacy Policy
Introduction
At Bloom Financial Technologies Inc. (“Elevate Pay”), we collect and use personal information to provide services to our customers. We treat your personal information as private and confidential, in line with applicable laws such as the Bank Secrecy Act (BSA), Right to Financial Privacy Act, Gramm-Leach-Bliley Act (GLBA), Fair Credit Reporting Act (FCRA), and Electronic Funds Transfer Act. This Privacy Policy (together with our Terms and Conditions) explains what information we collect, how we collect, share, use, and protect your personal information when you visit or use our website, app, or other services. Please read this Policy carefully. By continuing to use our services, you consent to our usage of your personal information as described in this Policy.
What Personal Information Do We Collect?
We collect personal information from sources including:
- Website visits
- Apps
- Personal identification documents
- Personal financial statements
- Third parties (e.g., banks, payment service providers, credit bureaus)
- Interactions with Elevate Pay staff
- Communications with Elevate Pay
We may collect the following types of information:
- Passport or National ID number
- Transactional account history
- Account balances
- Payment records
- Wire instructions
We also collect device and electronic information such as IP addresses, geolocation data, and browser type when you visit our website or use our app. Cookies may be used to personalize your experience and deliver relevant information.
Cookies and Tracking Technologies: Cookies may be used to personalize your experience and deliver relevant information. These include:
- Necessary cookies: Required for basic website functionality.
- Analytical cookies: To analyze usage and improve our services.
- Marketing cookies: To deliver personalized ads.
You can manage your cookie preferences directly through your browser settings.
If applicable, in compliance with the Fair Credit Reporting Act (FCRA), we may collect credit information from credit bureaus to evaluate your eligibility for our services.
How Do We Use Your Personal Information?
We will use your personal information for legitimate business purposes, including:
- Establishing your identity and assessing eligibility for services
- Updating and enhancing Elevate Pay’s records
- Customer relationship management
- Risk identification and management
- Investigating and preventing illegal or fraudulent activity
- Designing and improving our products and services
- Complying with legal obligations, including the Bank Secrecy Act (BSA) and Electronic Funds Transfer Act
- Reporting to financial authorities or government agencies as required under the BSA or other applicable laws.
The collection and use of your personal information are based on the following legal grounds:
- Performance of a contract (e.g., providing banking services).
- Compliance with legal obligations (e.g., BSA, FCRA).
- Legitimate business interests (e.g., enhancing services, fraud prevention).
- Your consent (e.g., for marketing communications).
How Do We Share Your Personal Information?
We may share your information with:
- Our employees
- Our subsidiaries and affiliates
- Financial services providers (e.g., banks, credit bureaus, payment service providers)
- Courts, regulators, and law enforcement agencies
- We may also share information with government agencies, including those covered under the Right to Financial Privacy Act, where legally required.
We will not share your information with third parties for marketing purposes without your explicit consent.
When sharing your information with regulators, law enforcement, or third-party service providers, we ensure that only the data strictly necessary for compliance or service provision is shared.
How Do We Protect Your Personal Information?
Elevate Pay maintains physical, electronic, and procedural safeguards to protect your personal information. This includes:
- Encryption of sensitive data to ensure protection during transmission and storage
- Regular updates to security protocols
- Strict access control to your information, limiting it to authorized personnel only
- Regular staff training on privacy management
In compliance with the Gramm-Leach-Bliley Act (GLBA), we ensure that any third parties handling your personal information maintain adequate safeguards to protect it.
If you have been provided with a password to access specific areas on our platform, it is your responsibility to keep this information confidential. We will not be responsible for any losses incurred due to unauthorized access resulting from the disclosure of your password.
Data Retention
We will store and retain your data for as long as is necessary for the purposes it was collected. This includes storing data in compliance with legal requirements set forth by the BSA, GLBA, and other applicable laws. Storage is also determined by legal, regulatory, and operational needs.
We retain your personal data based on the type of information:
- Transactional data: Retained for at least seven years to comply with the Bank Secrecy Act (BSA).
- Personal identification data: Retained for as long as you maintain an account with us and up to five years after account closure.
What Are Your Rights?
You have the following rights regarding your personal information:
- Right to access: You can request details of the personal information we hold about you.
- Right to rectification: You can request that we correct any inaccurate information.
- Right to deletion: You can request that we delete your information where legally permissible.
- Right to withdraw consent: You may withdraw consent for the processing of your data at any time, though this may affect your ability to use certain services.
- Right to data portability: You can request that we transfer your data to a third party.
- Right to object: You can object to how we process your personal information.
These rights are in line with the privacy obligations set forth by the Gramm-Leach-Bliley Act (GLBA) and the Fair Credit Reporting Act (FCRA).
Cross-Border Data Transfers
In some cases, we may transfer your personal data across borders to provide services. When this occurs, we ensure compliance with applicable data protection laws and implement safeguards, such as Standard Contractual Clauses or other recognized measures.
Social Media and External Links
Elevate Pay may interact with you through social media platforms, but we will never ask you to share personal or security information via these channels. Your activity on social media is subject to the platform’s privacy policies, and Elevate Pay’s privacy policy does not apply to third-party platforms or external websites.
Advertising and Promotions
We may contact you with product information and promotions that we believe you may find valuable. You can opt out of these communications at any time by contacting help@elevatepay.co or selecting the “Unsubscribe” links included in all promotional emails.
Changes to This Privacy Policy
We may revise this Privacy Policy as necessary to remain compliant with new laws and regulations, including updates to the Bank Secrecy Act or Gramm-Leach-Bliley Act. Revisions will take effect upon posting to this page. Continued use of our services signifies your acceptance of any updated policies.
Breach Notification
In the event of a data breach that affects your personal information, we will notify you in accordance with applicable laws, and take the necessary steps to mitigate any risks.
Contact
If you have any questions or comments about this Privacy Policy or wish to exercise any of your rights, please contact us through our help center at help@elevatepay.co.