GDPR – What is it and how does it affect me?
The General Data Protection Regulation or GDPR for short. On May 25th 2018 new legislation will come into effect in the UK regarding how companies such as ourselves store and use personal data provided by you, our customers.
This is a good thing, it applies complete transparency to how your data is kept and stored, this means companies can no longer hold your personal data indefinitely, they can only hold this for as long as is necessary. The GDPR covers all data held by a company.
What we do with your data
When you open an account with us, we keep your address, email & contact number (if submitted) for the purposes of delivery, customer service & invoices for purchases made. This does not include emails informing you of new products or promotions, if you would like to opt in for any emails regarding this, you will need to provide us with your consent.
Customers, who have opted in to receive these emails, have their emails kept in a separate list specifically for people who have opted in.
If you decide you no longer wish to receive these emails you can opt out at any time, you will have your data removed from this list; your data is then only held on your account for the purposes of delivery, customer service & invoices.
If you decide to cancel your account altogether, we delete all of your data from all of our systems after 6 years, we need to keep this information for Inland Revenue reasons, we will not use this data for any other purpose.
Oakbank has never and will never sell your data to 3rd parties.
We need your consent
Moving forward from May 25th without your consent, we will no longer be able to send you any emails updating you of our latest products and offers.
Giving consent however does not mean that you cannot withdraw this at any time, if you unsubscribe from receiving emails, we will only keep your data for the account purposes, such as invoices etc. In the same vein, if there is no interaction between you the customer and us for 6 months we will take that as a revocation of consent and you will again be removed from the email list.
A lack of interaction could be something as simple as not opening the emails we send you.