0161 724 2424 | enquiries@excel-a-rate.co.uk
Prospect House, 389/391 Ainsworth Road, Radcliffe, Manchester M26 4HN

Data Protection

Business funding to suit your needs

Data Protection
A guide to the use of your personal & business data by Excel-A-Rate Business Services Ltd and/or Excel A Rate Business Cash Ltd and Credit Reference Agencies

When you apply to us to open a business account, Excel-a-rate Business Services Ltd and/or Excel A Rate Business Cash Ltd may: -
a) Check our own records for information on:-
* Your and your business partners' personal accounts
* Your business accounts.
b) Search at credit reference agencies for information on:-
* Public data on your and your business partners' personal credit behaviour
* Information on the conduct of your and your business partners' personal credit accounts if you are proprietors of a small business;
* Your business accounts;

What we do with the information you supply to us as part of the application:-
a) Information that is supplied to us will be sent to the credit reference agencies.
b) If you give us false or inaccurate information and we suspect fraud, we will record this and may also pass this information to financial and other organisations involved in fraud prevention to protect us, them and our respective customers from theft and fraud.*
c) Your data may also be used by this organisation, to offer your business other products.*

With the information that we obtain we will:-
a) Assess this application for credit and/or;*
b) Verify your identity and the identity of other directors/partners and/or;
c) Undertake checks for the prevention and detection of fraud and/or money laundering.
d) We may use scoring methods to assess this application and to verify your identity.
e) Manage your personal and/or business account (if you have one) with ourselves.
f) Undertake periodic statistical analysis or testing to ensure the accuracy of existing and future products and services.
g) Any or all of these processes may be automated.

What we do when you have an account:-
a) Where you borrow or may borrow from us, we will give details of your business account, including names and parties to the account, and how you manage it to credit reference agencies.
b) If you borrow and do not repay in full and on time, we will tell credit reference agencies.
c) We may make periodic searches of our own group records, credit reference and fraud prevention agencies to manage your account with us, to take decisions regarding your identity and also credit, including whether to make credit available or to continue or extend existing credit.
d) If you have borrowed from us and do not make payments that you owe us, we will trace your whereabouts and recover payment.

When credit reference agencies receive a search from us they will:-
a) Place a search "footprint" on your company credit file whether or not this application proceeds. If the search was for a credit application the record of that search (but not the name of the organisation that carried it out) may be seen by other organisations when you apply for credit in the future.
b) Link together the previous and subsequent names advised by you, of anyone that is a party to the account.

Supply to us:-
a) Information about your company such as previous applications for credit and the conduct of the accounts and also similar personal credit information in your name and of your business partners.
b) Public information such as County Court Judgments (CCJ's) and bankruptcies.
c) Electoral Register information on you and your business partners.
d) Fraud prevention information.

When information is supplied by us, to them, on your account(s).
a) Credit reference agencies will record the details that are supplied on your account (and how you manage it/them).
b) If your business borrows and does not repay in full and on time, credit reference agencies will record the outstanding debt.
c) Records shared with credit reference agencies remain on file for 6 years after they are closed whether settled by you or defaulted.

How your data will NOT be used by credit reference agencies:-
a) It will NOT be used to create a blacklist.
b) It will NOT be used by the credit reference agency to make a decision.

How your data WILL be used by credit reference agencies:-
a) The information which we and other lenders provide to the credit reference agencies about you, your business associates and your business may be supplied by credit reference agencies to other organisations and used by them to:-
* Verify your identity if you or your financial or business associate applies for other facilities including all types of insurance applications or claims.
* Make credit decisions about you, your partner, other members of your household or your business.
* Trace your whereabouts and recover payment if you do make payments that you owe
* Conduct checks for the prevention and detection of crime including fraud and/or money laundering.
* Manage your and, where applicable, your partner's, personal and/or business account
* Undertake statistical analysis and system testing.
b) Your data may also be used for other purposes for which you give your specific permission or, in very limited circumstances, when required by law or where permitted under the terms of the Data Protection Act 1998.
c) Your data may also be used to offer you other products, but only if you have not opted out of receiving such offers.

A small business is defined as an organisation which might be a sole trader, partnership or a limited company that has three or less partners or directors.

How to find out more;
You can contact the three (3) agencies currently operating in the UK; the information they hold may not be the same so it is worth contacting them all. They will charge you a small statutory fee.

CALLCREDIT - Consumer Services Team, PO Box 491, Leeds, LS3 1WZ or call 0870 0601414 (Personal credit data only)

EQUIFAX PLC - Credit File Advice Centre, PO Box 3001, Bradford, BD1 5US or call 0870 0100583 or log onto www.myequifax.co.uk

EXPERIAN - Consumer Help Service, PO Box 8000, Nottingham, NG80 7WF or call 0870 2416212 or log onto www.experian.co.uk

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