Privacy Policy

Introduction

Welcome to the privacy policy of KV MONEY EXCHANGE LTD (“we”, “us”, “our”).

KV MONEY EXCHANGE LTD is a Small Payment Institution (SPI) registered in England and Wales (Company No. 13150743) and authorised and regulated by the Financial Conduct Authority (FCA) under Firm Reference Number 952725.

We are committed to protecting your personal data and respecting your privacy in accordance with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018.

This privacy policy explains:

  • How we collect and use your personal data
  • Your rights under UK data protection law
  • How we keep your data secure
  • How to contact us or make a complaint
Controller

KV MONEY EXCHANGE LTD is the data controller responsible for your personal data.

The Data We Collect About You

We may collect, use, store, and transfer different types of personal data, including:

Identity Data
First name, last name, maiden name, title, date of birth, gender, marital status, and identification details (e.g. passport, driving licence).

Contact Data
Billing address, residential address, email address, and telephone numbers.

Financial Data
Bank account details and payment information.

Transaction Data
Details about payments to and from you and other details of services you have used.

Compliance Data (KYC/AML)
Information required to comply with anti-money laundering and counter-terrorist financing laws, including:

  • Proof of identity
  • Proof of address
  • Source of funds and source of wealth

Technical and Usage Data
Information about how you use our website, systems, and services (e.g. IP address, browser type, cookies).

Marketing and Communications Data
Your preferences in receiving marketing and your communication preferences.

If You Fail to Provide Personal Data

Where we are required by law (e.g. under AML regulations) or under a contract to collect personal data and you fail to provide it, we may not be able to provide our services. In such cases, we may have to refuse or terminate a business relationship.

How We Collect Your Personal Data

We collect personal data through:

  • Direct interactions
  • When you use our services
  • Website usage (including cookies and similar technologies)
  • Identity verification and compliance checks
  • Third parties such as identity verification providers, fraud prevention agencies, and regulatory bodies
How We Use Your Personal Data (Lawful Basis)

We only process your personal data where we have a lawful basis under UK GDPR, including:

  • Performance of a contract – to provide our services
  • Legal obligation – to comply with FCA rules, AML regulations, and other legal requirements
  • Legitimate interests – to operate and improve our business (where your rights do not override these interests)
  • Consent – for marketing communications (where required)

We use your personal data to:

  • Provide and manage our services
  • Verify your identity (KYC checks)
  • Prevent fraud and financial crime
  • Comply with legal and regulatory obligations
  • Improve our services and systems
  • Communicate with you (including service updates)
  • Send marketing communications (where permitted)
Marketing

You have control over how your personal data is used for marketing.

  • We will only send marketing communications where lawful to do so
  • You can opt out at any time by contacting us
  • We will obtain your explicit consent before sharing your data with third parties for marketing
Cookies

Our website uses cookies to distinguish you from other users and improve your experience. You can control cookies through your browser settings. For more information, please refer to our Cookie Policy.

Change of Purpose

We will only use your personal data for the purposes for which it was collected unless we reasonably consider that we need to use it for another compatible reason. Where required, we will notify you and explain the legal basis.

Data Sharing

We may share your personal data with:

  • Regulatory authorities (including the FCA)
  • Law enforcement agencies
  • Fraud prevention agencies
  • Identity verification providers
  • IT and system service providers
  • Professional advisers

All third parties are required to respect the security of your personal data and to treat it in accordance with the law.

International Transfers

Where your personal data is transferred outside the UK, we ensure appropriate safeguards are in place (such as adequacy decisions or standard contractual clauses).

Data Security

We implement appropriate technical and organisational measures to protect your personal data from:

  • Unauthorised access
  • Loss or destruction
  • Misuse or alteration

We also have procedures in place to deal with any suspected data breach and will notify you and the relevant regulator where legally required.

Data Retention

We will only retain your personal data for as long as necessary, including:

  • To fulfil the purposes for which it was collected
  • To comply with legal, regulatory, tax, and accounting requirements

For AML purposes, we are typically required to retain data for at least 5 years after the end of the business relationship.

Your Legal Rights

Under UK data protection law, you have the right to:

  • Request access to your personal data
  • Request correction of inaccurate data
  • Request erasure (“right to be forgotten”)
  • Object to processing
  • Request restriction of processing
  • Request transfer of your data (data portability)
  • Withdraw consent at any time (where applicable)

To exercise any of these rights, please contact us.

Accuracy and Updates

It is important that the personal data we hold about you is accurate and up to date. Please inform us of any changes during your relationship with us.

Children

Our services are not intended for individuals under the age of 18. We do not knowingly collect personal data from children.

Third-Party Links

Our website may contain links to third-party websites. We are not responsible for their privacy policies and encourage you to read their notices.

Changes to This Privacy Policy

We may update this privacy policy from time to time. The latest version will always be available on our website. Continued use of our services constitutes acceptance of any updates.