Purpose & Scope

We collect bank details solely to send payouts you've earned on Arkvon. We do not use this information for marketing or unrelated purposes.

What We Collect

The following information is collected to process your payouts securely and efficiently.

• Account holder name

• Email (for payout notifications)

• Bank identifier (IBAN / Account Number)

• SWIFT/BIC code (for international transfers)

• Bank routing number & country

• Address (optional, required by Wise for certain regions)

• Your account type (checking or savings)

• Your postal code

Legal Basis & Consent

Your bank details are processed under the following legal grounds:

• Contractual necessity: to fulfill payout obligations under our Terms

• Legitimate interests: fraud prevention and financial reconciliation

• Consent: you acknowledge and consent to Arkvon processing and transferring your bank details to payout providers by submitting the form

How We Use Your Data

Your bank information is used exclusively for the following purposes:

• Generate and execute payouts via Wise

• Validate payment routes and reduce transfer failures

• Reconcile payments and resolve disputes or chargebacks

• Conduct compliance checks (AML, sanctions screening, fraud prevention)

Sharing & Third-Party Processors

We share your payout data only with trusted partners necessary to process payments. We do not sell your data.

• Wise (TransferWise) and banking partners used to execute payments

• Payment compliance tools for sanctions/AML screening (if applicable)

• Infrastructure and security vendors (hosting, logs, email) under strict Data Processing Agreements

Security Controls

We implement industry-standard security measures to protect your bank details:

• TLS 1.2+ encryption in transit; AES-256 encryption at rest

• Secrets and keys stored in a managed vault with role-based access (least privilege)

• PII redaction in logs (only last 4 digits of account stored where possible)

• Administrative access protected with SSO and multi-factor authentication (MFA)

• Regular access reviews, audit trails, and anomaly alerts

• Production data never copied to unsecured test environments

Storage & Retention

Full bank details are stored only as long as necessary to process payouts and comply with legal requirements (typically up to 7 years for financial and audit records, depending on jurisdiction).

• You may update or delete your bank details in Settings → Payouts

• Deleting bank information stops future payouts until new details are provided

• If you close your account, non-essential data is removed; only legally required data is retained for tax, legal, and anti-fraud purposes

International Transfers

Your data may be processed outside your country when required to complete a payout. When we transfer data internationally, we use appropriate safeguards (e.g., Standard Contractual Clauses for the EEA/UK).

Your Rights

Depending on your location (e.g., GDPR, CCPA, Philippine DPA), you have the following rights:

• Access, correct, or delete your data

• Object to or limit processing

• Request data portability

• Lodge a complaint with your local data protection authority

• Contact [email protected] to exercise your rights

AML, Sanctions & Fraud Prevention

We may screen payout details against sanctions, PEP (Politically Exposed Persons), and AML lists as required by law and our payment partners. Suspicious activity may delay or block payouts and be reported to relevant authorities.

Minors

Arkvon is not intended for users under 16 years of age. We do not knowingly collect bank data from minors.

Changes to This Notice

We will post updates to this page and adjust the 'Last updated' date. Material changes may be communicated to you via email.

Contact Information

For questions or concerns regarding your bank details and data privacy:

• Data Controller: Arkvon Technologies

• Email: [email protected]

• Security reports: [email protected]