Have you ever wondered what happens with your money when it gets to TransferGo? Is it kept safely? Have you ever asked yourself what happens with your personal data or the documents you provide to us? Who has access to them? How are they stored? If yes, then this article is just for you!
Let’s start with the safety of your money. When your payment gets to us, it’s being kept in one of TransferGo’s bank accounts at one of our trusted banking partners. It’s important to note that customers’ funds are kept in the so called segregated accounts that are separated from our operational accounts. This means that our customers’ funds are easily identifiable and in case of bankruptcy (which is highly unlikely) customers’ funds have to be returned to the customers directly and can’t be used for any other purposes.
What about the personal data and additional documents? Well, we’re very serious about the safety of your personal data and how we keep it. All the data you provide us with, is kept within the terms of the Data Protection Act 1998 – the main piece of legislation that governs the protection of personal data. TransferGo is also regulated by the Information Commissioner’s Office (https://ico.org.uk/) with the number Z316680X. The main mission of the ICO is to uphold information rights in the public interest. By following their rules we ensure that we won’t share your data with third parties unless required to do so by law.
Only a very limited number of people within the company has access to the funds of the customers or their personal data. All of them sign in an agreement of confidentiality and are well trained as to ensure that sensitive information is well-stored and respected.
To ensure the safety of the sensitive data, we also use modern security technology – the SSL (Secure Socket Layer). This means that all the communication between your browser and TransferGo is encrypted. In other words, SSL ensures that all data passed between the web server and browsers remain private and integral.