Security
Your security and privacy are our top priorities at Sonect. Learn how we protect your money and personal data, what information we collect, and how you maintain control over your digital footprint.
Is my money safe?
Sonect is a licensed Electronic Money Institution (EMI) and as an authorised institution, Sonect safeguards your funds at a Central Bank in the European Economic Area (EEA). In the event of an insolvency of Sonect, you will be able to claim your funds from this segregated account which is separated from the rest of the business and your claim will be paid above all other creditors.
Is my private information safe?
In these digitalized times, individual control over personal data is an important and central topic. Sonect takes this issue very serious. Our processes comply with the European General Data Privacy Regulation (GDPR), which is currently stricter than Swiss laws regarding data privacy. Additionally, your data is safely stored on servers in Switzerland. More information you find in the Privacy Policy of the Sonect Application.
What personal data do I need to submit to use Sonect?
We process your personal data strictly respecting the principles “purpose limitation” and “data minimization”. This means that we only collect data for specified, explicit and legitimate purposes and that we process only adequate and relevant data limited to the what is necessary in relation to these purposes.
You can find all the data points we collect from you in the Application Privacy Policy under Point 2.1 as well as the way we collect it (Point 3.1) and the reasons and legal bases of the collection (Point 4)
How long will Sonect store my data for?
We retain your personal data only for as long as is necessary for the purposes you find under point 4 in the Application Privacy Policy. Note that we are required by law to retain some data for a period of up to 10 years. This includes mainly transaction data in order to prevent money laundering, fraud and crime.
What if I want Sonect to erase all my data?
You can request the erasure of your data at any time over Sonect’s communication channels. The erasure can take up to 2 working days after it has been initiated. Please note that we have to check your identity and that we have to retain some data by law.
Data Protection Officer
Sonect AG
Seefeldstrasse 283
8008 Zurich, Switzerland
What does Sonect use my data for?
We use your data either:
- to provide and administer the Sonect services and functionalities
- to provide you with customer support
- to provide and maintain our App, as well as to detect and address security threats
- to analyse, improve, personalize and monitor the usage of our App and communications
- to notify you about changes to our App and our Privacy Policy
- to maintain records and conduct compliance checks, e.g. anti-money laundering, fraud and crime prevention
- to provide you with news, special offers and general information about goods, services and events which we offer (only with your explicit consent)
You can find all the data points we collect from you in the Application Privacy Policy under Point 2.1 as well as the way we collect it (Point 3.1) and the reasons and legal bases of the collection (Point 4).
Need more help?
If you still need assistance, our support team is just a message away. Provide details about your issue, and we’ll help resolve it promptly.
