SmashRemit - International Money Transfer & Digital Finance

Effective as of APRIL 16, 2025

SmashRemits Privacy Policy

At SmashRemit, we are committed to protecting your privacy and ensuring the security of your personal information. This Privacy Policy explains how we collect, use, store, and protect your data when you use our financial services platform.

Information We Collect

We collect various types of information to provide you with secure and efficient financial services:

Personal Information

Full name, date of birth, and contact details
Government-issued identification documents
Address and residential information
Employment and income details

Financial Information

Bank account details and payment information
Transaction history and patterns
Credit and risk assessment data
Investment preferences and portfolio data

Technical Information

Device information and IP addresses
Browser type and operating system
App usage patterns and preferences
Location data (with your consent)

Communication Data

Customer support interactions
Feedback and survey responses
Marketing communication preferences

How We Use Your Information

We use your personal information for the following purposes:

Service Provision

• Processing money transfers and payments
• Managing your multi-currency wallets
• Facilitating investment transactions
• Issuing and managing virtual cards

Security & Compliance

• Identity verification (KYC/AML)
• Fraud detection and prevention
• Risk assessment and monitoring
• Regulatory compliance reporting

Customer Experience

• Personalizing your app experience
• Providing customer support
• Sending service notifications
• Improving our services

Marketing & Analytics

• Sending promotional communications
• Analyzing usage patterns
• Conducting market research
• Product development insights

Data Sharing and Disclosure

We do not sell your personal information to third parties. We only share your data in specific circumstances outlined below.

Service Partners

We share necessary information with trusted partners including banks, payment processors, card issuers, and compliance verification services to provide our financial services.

Legal Requirements

We may disclose your information when required by law, court orders, or regulatory authorities, including anti-money laundering and counter-terrorism financing requirements.

Business Transfers

In the event of a merger, acquisition, or sale of assets, your information may be transferred to the new entity, subject to the same privacy protections.

With Your Consent

We may share your information with other parties when you provide explicit consent for specific purposes.

Data Security

We implement industry-standard security measures to protect your personal and financial information:

Encryption:All data transmitted and stored is encrypted using advanced encryption standards.

Access Controls:Strict access controls and authentication protocols for all systems.

Monitoring:24/7 security monitoring and threat detection systems.

Regular Audits:Independent security audits and penetration testing.

Data Backup:Secure, encrypted backup systems with disaster recovery protocols.

Staff Training:Regular security awareness training for all employees.

Your Privacy Rights

You have the following rights regarding your personal information:

Access

Request a copy of your personal data we hold

Correction

Update or correct inaccurate information

Deletion

Request deletion of your data (subject to legal requirements)

Portability

Request your data in a portable format

Opt-out

Unsubscribe from marketing communications

Restriction

Limit how we process your information

To exercise any of these rights, please contact our privacy team through the app or email us at privacy@smashremit.com

Data Retention

We retain your personal information for as long as necessary to:

Provide our services to you
Comply with legal and regulatory requirements
Resolve disputes and enforce agreements

Typically, financial records are retained for 7 years after account closure.

International Transfers

Your information may be transferred to and processed in countries outside your residence for:

Cloud storage and processing
International money transfers
Partner service provision

We ensure appropriate safeguards are in place for all international transfers.

Cookies and Tracking Technologies

We use cookies and similar technologies to enhance your experience and analyze app usage:

Essential

Required for basic functionality

Analytics

Help us improve our services

Personalization

Customize your experience

You can manage your cookie preferences through your browser settings or our app preferences.

Updates to This Privacy Policy

We may update this Privacy Policy from time to time to reflect changes in our practices, technology, legal requirements, or other factors.

How We Notify You

• Email notification for significant changes
• In-app notifications and alerts
• Updated "Last Modified" date at the top of this policy
• Prominent notice on our website homepage

Your continued use of SmashRemit after any changes indicates your acceptance of the updated Privacy Policy.

If you have any questions, concerns, or requests regarding this Privacy Policy or our data practices, please contact us:

privacy@smashremit.com

Support

In-app support chat

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Address

SmashRemit Privacy Team
Lagos, Nigeria

We aim to respond to all privacy-related inquiries within 30 days of receipt.

Your privacy is important to us. We are committed to protecting your personal information and being transparent about our data practices.