Data privacy is of high importance to SAT FX and we want to be open and transparent with our processing of your personal data. SAT FX is committed to safeguarding the privacy of our website visitors; in this policy we explain how we will treat your personal information.
To provide you with our currency services we are required to obtain information about our customers. We won’t ask any unnecessary questions and any information we receive will be subject to strict controls to minimise the risk of misuse including unauthorised access to or disclosure of your personal data.
For the avoidance of doubt, children are not eligible to use SAT FX services. We therefore ask that anyone under the age of 18 do not submit any information to us or use our services.
The Information We Collect
We may collect, store and use the following kinds of personal information:
information about your computer and about your visits to and use of our websites including your IP address, geographical location, browser type and version, operating system, referral source, length of visit, page views and website navigation paths;
information that you provide to us when registering on our website including your email address, your name, address details and date of birth. We may also request identity documents, proof of ID and evidence of your source of funds or other such information in accordance with our regulatory obligations;
information relating to currency transactions such as beneficiary bank details, evidence of the purpose of the transactions, exchange rates, transaction dates;
information that you post to our website for publication on the internet including your user name and the content of your posts;
- We record calls on our telephone lines for quality control purposes, as evidence of transactions and to fulfil regulatory requirements. Any information you disclose to us will be held on these recordings.
- Before you disclose to us the personal information of another person, in the case of providing details of other directors or shareholders or the other party to a joint personal account, you must obtain that person’s consent before providing that information to us.
- When we are instructed to send a currency payment to a person who is not a customer of SAT FX we will retain that information e.g. the bank details and that persons name.
- Any information we collect on 3rd parties or beneficiaries will be saved for a certain period of time in compliance with applicable law, we will not use this information to market to the 3rd party or beneficiary. In addition, these persons have the same rights to access and amend information about themselves as SAT FX’s own registered customers.
Using Your Personal Information
To protect our customers and ourselves against fraud, we will use various electronic identity verification software to complete background checks on our customers and, in the case of business customers, on the owners, directors and shareholders of the businesses.
We carry out checks to ensure we do not deal with countries, entities or individuals that are subject to sanctions to comply with counter-terrorist financing and anti-money laundering regulations and to identify high-risk individuals where we need to add additional controls. We also conduct investigations into actual or suspected violations of our Terms and Conditions.
Personal information submitted to us will be used to provide you with the information, products and services that you request from us. This includes providing you with money transfer services, notifications, payment and trade confirmations and quotes on currency transactions and completing any transaction.
We may use your personal data to send you marketing related communications regarding our services, our white label partnerships, customer surveys, promotions, market updates and new products and services.
You can inform us at any time if you no longer require marketing communications via email or over the phone.
We will not, without your express consent, supply your personal information to any third party for the purpose of their or any other third party’s direct marketing.
Data privacy regulations prohibit the processing sensitive data unless you have given your consent. Sensitive data includes information revealing racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, genetic data, biometric data, and data concerning health, sex life or sexual orientation. There are also restrictions on processing of criminal convictions and offences.
To avoid infringing these restrictions, we will not collect any sensitive data from you or any other party, so please do not reveal any sensitive data about yourself or others in any communication with us.
If sensitive data is shared with us by phone you will be giving express consent for us to process that information by storing the recording of the telephone call.
Sharing Personal Information
We may share your personal information with business partners who are under contract with us and who support our business, such as fraud prevention, marketing and IT suppliers. The contracts in place with our partners ensure they only use your information in connection with the services they perform for us and not for their own benefit.
We may disclose your personal information to the extent that we are required to do so by law, in connection with any ongoing or prospective legal proceedings or in order to establish, exercise or defend our legal rights.
We have a select group of partners and affiliates to whom we occasionally refer customers. If we think you may benefit from these services, we will ask for your permission to pass on your details. We will always name the partner or affiliate we will pass on your details only where you give us permission to do so. If we refer you, we will typically pass on your name, email address and telephone number.
Except as provided in this policy, we will not provide your personal information to third parties.
International Data Transfers
Information that we collect may be stored and processed in and transferred between any of the countries in which we operate in order to enable us to use the information in accordance with this policy.
Information that we collect may be transferred to the following countries which do not have data protection laws equivalent to those in force in the European Economic Area: [the United States of America, Russia, Japan, China and India].
Personal information that you publish on our website or submit for publication on our website may be available, via the internet, around the world. We cannot prevent the use or misuse of such information by others.
Retaining Personal Information
We are required by financial regulations and financial laws to retain account data for 5 years after the closure of an account and, in some circumstances, up to 7 years following an enquiry from a law enforcement agency.
We may also retain information if required to protect our interests, for example in case of litigation. When data falls outside those retention periods we will take steps to delete it from our system. Where you have asked us not to contact you, we will retain that information on a “do not contact” database to avoid us contacting you in the future.
Security of Personal Information
We will take reasonable technical and organisational precautions to prevent the loss, misuse or alteration of your personal information.
We will store all the personal information you provide on our secure, password and firewall protected servers.
All electronic financial transactions entered into through our website will be protected by encryption technology.
You acknowledge that the transmission of information over the internet is inherently insecure, and we cannot guarantee the security of data sent over the internet.
You are responsible for keeping the password you use for accessing our website confidential; we will not ask you for your password personally but you will be required to enter your password when you log in to our website.
You may instruct us to provide you with any personal information we hold about you free of charge and we will endeavour to respond to your request within 30 days.
You may request us to correct any information we hold about you if it is incorrect. Whilst we endeavour at all times to keep your information accurate, we welcome your corrections. You can correct the information we hold by calling or emailing your account manager to make any changes. We may ask you for additional verification information if you are changing certain details such as your name or your address.
You may ask us to erase your information if we no longer have any reason to hold it. Section 7 explains the circumstances when we can or are obliged to retain information. You may instruct us at any time not to process your personal information for marketing purposes.
You may ask us to return the information you provided to us in electronic format the information you provided to us under our Terms and Conditions or under consent.
You may ask us not to process your information where you previously gave consent or where we are exercising our legitimate interest.
You cannot object to processing which is a legal obligation or where we must process your information to satisfy a contract to which you are a party. If you previously gave consent and we processed your data on the basis of that consent, you cannot object to that past processing, however you can ask us to stop processing it in the future.
You may ask us not to process your information for marketing purposes by checking or unchecking certain boxes on the forms we use to collect your information or by clicking on the ‘unsubscribe’ link at the foot of every marketing or promotional email.
Third Party Websites
Our website includes hyperlinks to, and details of, third party websites. We have no control over, and are not responsible for, the privacy policies and practices of third parties.
A cookie is a file containing an identifier (a string of letters and numbers) that is sent by a web server to a web browser and is stored by the browser. The identifier is then sent back to the server each time the browser requests a page from the server.
- in Internet Explorer (version 11) you can block cookies using the cookie handling override settings available by clicking “Tools”, “Internet Options”, “Privacy” and then “Advanced”;
- in Firefox (version 39) you can block all cookies by clicking “Tools”, “Options”, “Privacy”, selecting “Use custom settings for history” from the drop-down menu, and unticking “Accept cookies from sites”; and
- in Chrome (version 44), you can block all cookies by accessing the “Customise and control” menu, and clicking “Settings”, “Show advanced settings” and “Content settings”, and then selecting “Block sites from setting any data” under the “Cookies” heading.
You can delete cookies already stored on your computer however this may have a negative impact on the usability of our website. Deleting cookies varies between browers, for example:
- in Internet Explorer (version 11), you must manually delete cookie files (you can find instructions for doing so at http://windows.microsoft.com/en-gb/internet-explorer/delete-manage-cookies#ie=ie-11);
- in Firefox (version 39), you can delete cookies by clicking “Tools”, “Options” and “Privacy”, then selecting “Use custom settings for history” from the drop-down menu, clicking “Show Cookies”, and then clicking “Remove All Cookies”; and
- in Chrome (version 44), you can delete all cookies by accessing the “Customise and control” menu, and clicking “Settings”, “Show advanced settings” and “Clear browsing data”, and then selecting “Cookies and other site and plug-in data” before clicking “Clear browsing data”.
Changes To This Policy
We may update this policy from time to time by publishing an updated version on our website and will notify you of any changes to this policy by email.
SAT FX, the trading name of SAT Worldwide Ltd, is the controller of the personal data you submit to us and responsible for your personal data under the applicable data protection law.
The data that we collect from you is stored within the European Economic Area (“EEA”) but may also be transferred to and processed in a country outside of the EEA. Any such transfer of your personal data will be carried out in compliance with applicable laws.
If you believe that we have breached a privacy law with which we should comply, please send an email to email@example.com and we will respond within 30 days. Our Compliance team will look after your complaint and will give you additional information about how it will be managed.
This website is owned and operated by SATFX Ltd whose registered office address is 5 Market Place Mews, Market Place Henley-on-Thames, Oxon, RG9 2AH. Our company number is
Our principal place of business is at 5 Market Place Mews, Market Place Henley-on-Thames, Oxon, RG9 2AH.