How Wye Finance will use your Personal Information.
This privacy notice sets out your rights under the law.
Your personal information will be held by Wye Finance Co. Ltd. If you have any questions or would like to find out more about how we use your personal information, you can email us at firstname.lastname@example.org, call us on 01432 276333 during office hours or write to us at 86 St. Owen Street, Hereford HR1 2QD.
How your data is protected?
For Wye Finance to use your personal information, we must have a proper reason to do so. This includes sharing it outside our company. The law says we must have one or more of these reasons; to fulfil a contract we have with you, or when it is our legal duty, or when it is in our legitimate interest, or when you consent to it.
A legitimate interest is when we have a business or commercial reason to use your information. But even then, it must not unfairly go against what is right and best for you. If we rely on our legitimate interest, we will tell you what that is.
Here is a list of all the ways that we may use your personal information, and which of the reasons we rely on to do so. This is also where we tell you what our legitimate interests are.
We will use the information we will collect about you for the following purposes:
To provide you with our products and services
To allow us to process your application, we will use your personal information to assess your suitability for finance (Lawful Basis: Fulfilling a Contract, Legal Duty, Legitimate Interests). Our Legitimate Interests: Promoting responsible lending and helping to prevent over indebtedness. To prevent, detect, investigate and report Financial Crime
Managing our agreement and relationship with you
We will process your information to ensure that you are able to fulfil your obligations under your credit agreement and to communicate with you to provide and manage your needs (Lawful Basis: Fulfilling a Contract, Legal Duty, Legitimate Interests). Our Legitimate Interests: Make and manage your payments required under your agreement and to recover money and assets that are owed to us
Our Legal Obligations
We may process your information for the prevention, detection and investigation of fraud and money laundering; To comply with laws and regulations that we have to adhere to for auditing purposes. If we are obliged to disclose information by reason of any law, regulation or court order (Lawful Basis: Legal Duty).
Staff Training and Awareness
To provide training to our employees to enhance or review the service we provide or have provided to you (Lawful Basis: Legitimate Interests). Our Legitimate Interests: Developing and improving our employee’s knowledge and expertise to ensure you are provided with the most efficient service
To send you Marketing Material
To provide you with information on other products and services we can offer you (Lawful Basis: Legitimate Interests). Our Legitimate Interests: To send information on similar products to individuals who have not previously objected to receiving marketing material. You can ask us to stop sending you marketing messages by contacting us at any time.
The types (or categories) of personal information we will collect about you and process are as follows:
Personal Identifiers – Information which can identify you, such as your name and date of birth
Contact Details – Information on where you live and how we may contact you to discuss your agreement.
Financial Details – Your financial position, history and bank account information
Employment – Your current employment status and employment history
Documentary Data – Documents provided by you, for example Passport, Driving Licence, Payslips, Bank Statements
Public Records and Open Data – Information about you on public records such as the Electoral Register and information which is openly available on the internet
Location Data – Information we receive from your device (mobile phone, computer etc.) when you visit our website
Special Category Data – Certain personal information you provide to us is more sensitive and needs more protection. We will only collect and process this type of data with your consent. Examples of this type of data may include information you provide in relation to a vulnerability which we need to be aware of to provide support and correctly manage our relationship with you
Why we need your personal information
We need to collect your personal information in order to enter into a finance contract with you. If you choose not to provide us with your personal information, it will mean that we will be unable to offer you our products and services.
Where we collect your personal information from
We may collect personal information directly from you when you apply for our products and services or when you contact us to discuss your finance agreement. Your personal information may also be provided to us by a 3rd party, such as a dealership when you visit them to purchase a vehicle.
Further organisations where we may collect your data from include; Credit Reference Agencies, Fraud Prevention Agencies, Public information sources such as Companies House, Agents working on our behalf.
Who we share your personal information with
This is a list of organisations which Wye Finance Co. Ltd may share your personal information with; Agents (Tracing, Debt Collection, Vehicle Repossession and Car Auction) who assist us in ensuring you fulfil your obligations under your finance agreement, Government and Law enforcement agencies, Regulators and other authorities (such as the DVLA), the FCA, Payment System Providers, including BACS, Our Funders, Legal and professional advisors including auditors, Courts to comply with legal requirements, Dealerships.
We also share your personal information with Credit Reference Agencies. When you apply for a product or service, we will carry out credit and identity checks on you with one or more credit reference agencies (CRAs). To do this, we will supply your personal information to CRAs and they will give us information about you. This will include information from your credit application and about your financial situation and financial history. CRAs will supply to us both public (including the electoral register) and shared credit, financial situation and financial history information and fraud prevention information.
We will use this information to; Assess your creditworthiness and whether you can afford to take the product; Verify the accuracy of the data you have provided to us; Prevent criminal activity, fraud and money laundering; Manage your account(s); Trace and recover debts; Ensure any offers provided to you are appropriate to your circumstances.
We will continue to exchange information about you with CRAs while you have a relationship with us.
We will also inform the CRAs about your settled accounts. If you borrow and do not repay in full and
on time, CRAs will record the outstanding debt. This information may be supplied to other
organisations by CRAs (see below).
When CRAs receive a search from us they will place a search footprint on your credit file that may be
seen by other lenders. If you are making a joint application, we will link your records together, so you
should make sure you discuss this with them, and share with them this information, before lodging the
application. CRAs will also link your records together and these links will remain on your and their files
until such time as you or your partner successfully files for a disassociation with the CRAs to break
The identities of the CRAs, their role also as fraud prevention agencies, the data they hold, the ways
in which they use and share personal information, data retention periods and your data protection
rights with the CRAs are explained in more detail within the Credit Reference Agency Information
Notice (CRAIN). This notice is accessible from each of the three Credit Reference Agencies,
Callcredit, Equifax and Experian. Contact details are as follows:
Fraud Prevention Agencies
Before we provide services, goods or financing to you, we undertake checks for the purposes of
preventing fraud and money laundering, and to verify your identity. These checks require us to
process personal data about you. The personal data you have provided, we have collected from you,
or we have received from third parties will be used to prevent fraud and money laundering, and to
verify your identity.
Details of the personal information that will be processed include, for example: name, address, date of
birth, contact details, financial information, employment details, device identifiers including IP address
and vehicle details. We and fraud prevention agencies may also enable law enforcement agencies to
access and use your personal data to detect, investigate and prevent crime.
We process your personal data on the basis that we have a legitimate interest in preventing fraud and
money laundering, and to verify identity, in order to protect our business and to comply with laws that
apply to us. Such processing is also a contractual requirement of the services or financing you have
requested. Fraud prevention agencies can hold your personal data for different periods of time, and if
you are considered to pose a fraud or money laundering risk, your data can be held for up to six
Whenever fraud prevention agencies transfer your personal data outside of the European Economic
Area, they impose contractual obligations on the recipients of that data to protect your personal data
to the standard required in the European Economic Area. They may also require the recipient to
subscribe to ‘international frameworks’ intended to enable secure data sharing.
Your personal data is protected by legal rights, which include your rights to object to our processing of
your personal data; request that your personal data is erased or corrected; request access to your
Transfers of Data outside of the EEA
Your personal data will not be transferred outside of the European Union. If in the event Wye Finance
Co. Ltd are required to transfer data outside of the European Union, we will only do so with either your
consent, or where we have a legal basis for processing and will put in place a contract with the
organisation to ensure the data is protected to the same standards as if it were still within the
How long we retain your personal information
We will keep your personal information for as long as you are a customer of Wye Finance Co. Ltd.
Once you are no longer a customer, we may retain your personal information for up to seven years.
The reasons for this are adherence to regulations applicable to us and to respond to questions or
complaints from when you were a customer.
Your Rights as an Individual
You have the right to access the personal information we hold on you by writing to us at 86 St. Owen
Street, Hereford HR1 2QD or calling us on 01432 276333.
You have the right to have your data corrected if its inaccurate or incomplete. Please contact us if you
would like us to do this and we will take reasonable steps to check its accuracy and correct it.
You have the right to ask us to erase your personal data. Please contact us if you would like us to
consider your request. If we are unable to comply with your request for erasure, we will explain to you
You have the right to request that we cease processing the personal information we hold about you if
it is not accurate, it has been used unlawfully and you don’t want us to delete it or your information is
no longer relevant but you wish for us to keep it for use in legal claims. Please contact us if you would
like to exercise this right.
You have the right to ask us to provide you with a copy of the personal information you provided to us
or to request that we transfer this data to another organisation in a format that can be easily re-used.
Please contact us if you would like to exercise this right.
You have the right to object to our use of your personal information. There may be legal reasons as to
why we may need to keep your data, however, please contact us if you think we should not be using
How we use your information to make decisions
Our credit assessment uses three sources to ensure a fair and well-informed outcome is achieved;
- The details you submit on your application form
- Information held and supplied from credit reference agencies
- Any data that we may already hold that relates to you
- We share specific information regarding you with the credit reference agencies and they in return give
us specific information about you.
What to do if you wish to make a complaint
Please let us know if you are unhappy with how we have used your personal information. You can
contact us using any of the methods above. We can also supply you with a copy of our Complaints
Policy if you contact us. You also have the right to complain to the regulator at https://ico.org.uk, and
to lodge an appeal if you are not happy with the outcome of a complaint.