Privacy Policy
At Famremit, we believe privacy isn't just a policy; it's a promise. You trust us with your money, and that trust must extend to your personal data. Our commitment is to collect only what we need, protect it like our own, and put you firmly in control. This document explains exactly how we do that.
The Key Points
- We only use your data to provide and secure your payment services. We need to know who you are to move your money safely and comply with the law. We will not use your personal data for anything else without your explicit consent.
- We do not sell your personal data. Ever. We never have, and we never will. Your trust is not for sale.
- You are in control. You can view, update, and download a copy of your data right from the app. You can also request to close your account and have your data deleted.
- We must keep some data for legal reasons. To prevent fraud and comply with anti-money laundering laws, we are required to keep a record of your transactions and identity for a specific period, even after you close your account. We are transparent about what we keep and for how long.
1. What Information We Collect & Why We Need It
We are committed to data minimization. Below is a transparent list of the data we collect and the only reason we collect it.
| Data We Collect | Why We Collect It (Our Only Purpose) |
|---|---|
| Personal Identification Information | To Verify Your Identity: This is a legal requirement under Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. It ensures no one is fraudulently using your identity. |
| Contact Information | To Secure Your Account & Communicate With You: We use this for two-factor authentication, sending you transaction alerts, and important service updates. We will not send you marketing unless you explicitly opt-in. |
| Financial Information | To Process Your Payments: We need this information to send and receive money on your behalf. This data is always encrypted and stored with our certified payment processing partners. |
| Transaction History | For Your Records & Our Legal Obligations: You can see your full payment history in the app. We also use this to detect fraudulent activity and are legally required to maintain these records. |
| Device & Technical Information | To Secure Your Account and Prevent Fraud: This helps us recognize your device, block suspicious logins, and ensure the app is working correctly. This is strictly for security and not for tracking. |
What We Will NEVER Do:
- Ask for your social media passwords.
- Track your location in the background.
- Access your contacts, microphone, or photos without your explicit permission for a specific feature (e.g., scanning a QR code with your camera).
2. How We Share Your Information
We will only share your data in these specific circumstances:
- With Our Service Partners: We work with trusted companies for essential services like identity verification and payment processing. They are authorized only to use your information for the specific service they provide to us.
- Initial Data Collection by Partners: When you sign up, your information is often collected by the Partner whose branded app or website you are using. This is done for essential processes like identity verification, also known as KYC/AML Screening.
- Secure Transfer to Famremit: Once collected, your personal data is securely transferred to the Famremit platform. At this point, Famremit becomes the primary custodian of your data, protecting it according to all the standards outlined in this Privacy Promise.
- Data Deletion by Third-Party Partners: Our contractual agreements require that once your data has been successfully and securely transferred to our platform, our Partners must delete the sensitive personal information from their own systems. This is a critical step to minimize risk and ensure your data isn't stored in multiple locations unnecessarily.
- When Required by Law: If we receive a legal request from law enforcement or a court, we will comply. We will notify you unless legally prohibited from doing so.
- To Prevent Fraud: We may share information with specialized services to protect your account and our platform from fraudulent activity.
It's important you understand how your data moves
3. Your Rights: You Are in the Driver's Seat
We have built a "Privacy & Data Hub" directly into the Famremit app. From there, you can:
- Access & See Your Data: View all the personal information we hold about you at any time.
- Correct Your Data: Easily update any information that is out of date.
- Download Your Data: Get a portable copy of your information.
- Control Your Permissions: Manage app permissions with a clear explanation of why each is needed.
- Delete Your Account: You can close your account at any time.
A Note on Deletion ("The Digital Shredder"): When you close your account, we immediately begin deleting your data. However, due to financial regulations, we are legally required to retain a secure, offline archive of your identity verification and transaction history for up to 7 years. This data is locked, is not used for any other purpose, and is permanently destroyed when the retention period ends. All other data is deleted within 30 days.
4. Our Security Promise
Your data is protected by multiple layers of security, including:
- End-to-End Encryption for all data in transit
- Encryption at Rest for all data stored in our databases.
- Regular Security Audits by independent security experts.
5. Children's Privacy
Famremit is not intended for use by individuals under the age of 18. We do not knowingly collect data from children. If we learn we have, we will delete it immediately.
6. Changes to This Policy
If we make significant changes to this policy, we will notify you in the app and via email, providing a clear summary of what's new.
7. Contact Us
If you have any questions about this policy or your data, please contact us.