Privacy Notice

Collection of Personal Information

When you apply for, avail or use the Bank’s products or services, interact with our employees and/or authorized representatives, visit our premises, and/or access our third party online systems, the Bank may collect your personal information, such as but not limited to your:

• Basic personal data, e.g. your name, contact information and ID documentation and information, e.g. photocopies of your valid IDs.
• Financial information, e.g. income, collateral, debt or credit rating
• Information about your education, profession or work
• Information about your family
• Details about the services and products we provide to you, how you use them and your preferences towards them.
• The Bank collects personal information including your full name, home address, email address, and contact numbers when you visit our website or when you manually or electronically submit to us your applications for any of our services or products, complaints, inquiries or requests.
• Other personal information authorized and mandated by law to be collected such as but not limited to Anti-Money Laundering Act of 2001 (AMLA), Bangko Sentral ng Pilipinas (BSP) Circulars, etc.

Use and Processing of Your Personal Information

We use the information collected to deliver and provide the products and services that you have availed to:

• Know-Your-Customer examination/investigation or client identification related activities;
• Performing activities that you have consented to; and
• Performing such other activities permitted by law;
• Approve, facilitate, administer and process applications and transactions;
• Respond to queries, requests and complaints and improve how we interact with you;
• Send you statements, billings, notices and other such documents necessary for continued use of our products and services;
• Conduct studies and researches for the purpose of reviewing, developing and improving our products and services;
• Reach out to you regarding products and services information, including but not limited to offers, promotions, and rewards.
• Perform certain protective safeguards against improper use or abuse of our products and services including fraud prevention;
• We also use information to meet our compliance obligations, to comply with other laws and regulations and to share with regulators and other authorities that the Bank is subject to. This may include using it to help detect or prevent crime (including terrorism financing, money laundering and other financial crimes). We’ll only do this on the basis that it’s needed to comply with a legal obligation, it’s in our legitimate interests and that of others or to prevent or detect unlawful acts.

Data Sharing

The Bank ensures that only authorized personnel within the various units of the Bank has access to your personal information. Nevertheless, the Bank may share your personal information with relevant Government agencies such as BSP, Securities and Exchange Commission (SEC), CIC, Philippine Deposit Insurance Corporation (PDIC) and Bureau of Internal Revenue (BIR) as mandated by pertinent laws and regulations. In addition, with your consent, the Bank may share your information with the bank’s offices, branches, subsidiaries and affiliates that are in collaboration with the bank to provide certain products and services to you, accredited third parties/vendors, credit reporting or credit reference agencies such as TransUnion Philippines, Negative File Information System (NFIS), Credit Management Association of the Philippines Inc. (CMAP), credit protection provider, guarantee institutions such as Philippine Guaranty Corporation, debt collection agencies, private regulatory organizations and other financial institutions, and other outsourced service providers engaged by the bank for the purposes of the bank’s conduct of everyday business such as GCash, TrueMoney, ECPay, etc. Such data sharing activities shall be done in a manner that is compliant with the Data Privacy Act of 2012 and under an obligation of confidentiality.

Security and Retention

We assure you that any information you communicate to us is protected. We use a range of measures to keep your information safe and secure. We require our staff and any third parties who carry out any work on our behalf to comply with appropriate compliance standards including obligations to protect any information and applying appropriate measures for the use and transfer of information. They will be stored in a database for no longer than the usual prescribed retention of 10 years (after complaints, inquiries, requests are acted upon) after which both physical records and digital files shall be disposed of.

Access and Correction

You have the right to ask for a copy of any personal information we hold about you and to rectify any inaccuracy. You may contact our Head – Consumer Assistance Office at info@lipabank.com or (043) 756-2411 or visit the nearest branch.

For other data privacy-related concerns, you may write a letter or email to the Bank’s Data Protection Officer, and you may file complaints with, and/or seek assistance from the National Privacy Commission.

Policy Change

If we decide to change our privacy policy, we will post those changes on our website.