Your trust is our priority.
Customers Bank's Privacy Policy details how we collect, use, and protect your personal and financial information. We explain our data practices, how your information is used to provide services, and the security measures in place to safeguard your privacy.
At Customers Bank, we collect specific types of personal and financial information to provide banking services, manage your accounts, and comply with regulatory requirements. This includes data you provide directly, such as your name, address, Social Security number, and account details when you apply for a product or service. We also gather transaction history, payment information, and credit history as part of our ongoing relationship.
Our collection methods involve various interactions, including online applications, in-branch visits, phone calls, and automated data logging from our website and mobile app. For instance, when you use online banking, we collect IP addresses and device information to ensure security and prevent fraud. This data helps us verify your identity and maintain the integrity of your accounts. We adhere strictly to regulations set by bodies like the Consumer Financial Protection Bureau (CFPB) regarding data collection.
The primary purpose of collecting this data is to establish and service your accounts, process transactions, and fulfill legal obligations. For example, your Social Security number is required for tax reporting purposes, and your address is necessary for mailing statements. We only collect information that is relevant and necessary for these defined purposes, ensuring we do not gather excessive data.
Customers Bank uses the information collected primarily to deliver the financial products and services you request. This includes processing loan applications, managing deposit accounts, and facilitating electronic funds transfers. Your data helps us personalize your banking experience, such as offering relevant financial advice or products based on your account activity and preferences.
We only share your information under limited circumstances, primarily with third-party service providers who assist us in delivering banking functions, such as payment processors or statement printers. These providers are contractually obligated to protect your data and use it only for the purposes for which they were hired. We do not sell your personal information to marketing companies. Information may also be shared with credit bureaus for credit reporting purposes, as permitted by the Fair Credit Reporting Act (FCRA).
Customers Bank believes you should have control over your personal information. We provide options for you to manage certain aspects of your data. You have the right to access and correct inaccuracies in your personal information held by us. For example, you can update your contact details through online banking or by contacting our customer service.
"Protecting our customers' financial information is a core principle at Customers Bank. We are committed to transparency in our data practices and providing you with meaningful choices regarding your privacy."
You also have choices regarding how we use certain information for marketing purposes. For instance, you can opt out of receiving promotional emails or postal mailings from Customers Bank. Specific opt-out instructions are provided within our communications and on our website. Understanding these choices helps you manage your communication preferences effectively.
Customers Bank employs rigorous security measures to protect your data from unauthorized access, alteration, disclosure, or destruction. This includes technical safeguards like encryption, firewalls, and multi-factor authentication for online access. We also implement physical and administrative safeguards, such as secure facilities and strict employee access controls, to ensure the confidentiality of your information. Our security protocols are regularly reviewed and updated to adapt to evolving threats and maintain the highest standards of data protection.
| Data Type | Collection Method | Primary Use | Sharing Circumstances |
|---|---|---|---|
| Personal Identifiers (Name, SSN) | Account applications, online forms | Identity verification, account opening | Credit bureaus, regulatory bodies |
| Transaction History | Account activity, payment processing | Account management, fraud detection | Service providers (e.g., payment networks) |
| Contact Information (Address, Email) | Account setup, customer updates | Communication, statement delivery | Statement printers, legal disclosures |
| Device & IP Data | Website/app usage, online banking | Security, service improvement | Analytics providers (anonymized) |
Customers Bank collects personal identifiers like your name, address, Social Security number, and contact details. We also gather financial information, including account numbers, transaction history, and credit data, all necessary for providing banking services and meeting legal requirements.
Customers Bank protects your data using a combination of technical, physical, and administrative safeguards. This includes encryption, firewalls, multi-factor authentication, secure facilities, and strict employee access controls to prevent unauthorized access or disclosure.
No, Customers Bank does not sell your personal information to marketing companies. We may share information with third-party service providers who assist us in delivering banking services, but they are contractually bound to protect your data and use it only for specified purposes.
Yes, you have choices regarding how Customers Bank uses certain information for marketing. You can opt out of receiving promotional communications like emails or postal mailings. Specific instructions for managing these preferences are available on our website and in our communications.
The full Customers Bank Privacy Policy is available on our official website. We encourage all our customers to review it for detailed information on our data collection, usage, and protection practices, as well as your rights and choices.
Customers Bank