Privacy policy

Your privacy is important to AFEX.  This privacy policy provides information about the personal information that AFEX collects, and the ways in which AFEX uses and discloses that personal information. This privacy policy explains how you can contact us if you have a question about or want to make a change to any personal information that AFEX has collected about you in connection with your account. We strongly recommend that you take time to read this Privacy Policy and retain it for future reference.

Personal information collection

  • When you apply for, and/or if you maintain, an account, you agree that we may collect your personal information from a variety of sources.
  • Here are some examples of the information we collect.  From your application, we collect information such as your name, mailing address, email address, telephone number, and date of birth, occupation, income, employer and language preference.
  • We obtain your credit reports and analyses from credit bureaus and other third parties, such as other financial institutions with which you do business.
  • We may verify your employment and income with your employer.
  • We use references you provide to verify information you give to us and you authorise your reference to verify such information to us.
  • Once you have been a client of AFEX, we get information about you from the ways in which you use your account.  We also obtain information from surveys and other question and answer efforts conducted by us in which you agree to participate.
  • We may listen to and record your telephone calls with us to confirm our discussions and agreements with you and for quality control purposes.  You agree that we may do so, whether you or we initiate the telephone call.

Using personal information

We use the Information that we obtain for the following activities:

  • To provide and assist us in managing and delivering products and services to you and to help us to improve and develop these services;
  • To send you commercial communications, subject to any choices you have made, about AFEX or third party products and services, or other updates;
  • To identify you; evaluate your credit worthiness; maintain service, monitor your account; research, manage and improve our services; to detect and prevent fraud and unauthorised or illegal activities and to maintain the accuracy of our records;
  • To comply with legal and regulatory obligations including those aimed at preventing money laundering and related criminal or fraudulent activity;
  • To allow you to receive the best experience using this website; to track activity on our website; to better understand the effectiveness of our promotional campaigns; to determine whether you came to our site from a banner ad or an Affiliate website; to deliver information specific to your interests; and
  • To improve the running of this website, to improve the customer experience and the operation of our business.

Disclosing and sharing personal information

  • We may share your personal information from time to time with credit reporting and analysis agencies, credit bureaus, financial institutions, and your employer.  This permits the financial system to function efficiently, allows for the detection and prevention of fraud and allows us to continue to offer our services to you.
  • We may share your personal information with other third parties engaged to assist us in providing services to you or to carry out one or more of the purposes including statement production and account administration.
  • We reserve the right to disclose personal information to a third party if a law, regulation, search warrant, subpoena or court order legally requires or authorizes us to do so.
  • Your personal information may be processed and store in Canada or in other jurisdictions by a service provider or another company in accordance with our Privacy Policy and in certain circumstances courts, law enforcement agencies or regulatory agencies outside Canada may be entitled to access your personal information under the law of the applicable jurisdiction.
  • We reserve the right to disclose and/or transfer personal information to another third party in the event of a proposed or actual purchase, sale, lease, merger, amalgamation or any other type of acquisition, disposal, transfer, conveyance or financing of all or any portion of or any of the business or assets or a division thereof in order to make available to you the same products and services from the affiliate or third party.  We may disclose your personal information in connection with an assignment of your account to affiliates or third parties, who in turn will also have a right of further assignment. These parties may collect, use and disclose your personal information to service and collect your account and to give effect to the assignment of your agreement and account to them.

Consent in collecting personal information

  • We collect personal information about you only when you voluntarily provide it or authorise us to collect it from a third party.  Typically, we will seek consent for the use or disclosure of your personal information at the time of collection.  In certain circumstances, consent may be sought after the information has been collected but before use (e.g. when we want to use or disclose the information for a purpose that we have not previously identified).
  • When you open an account, the account application form includes notices about privacy and requests your informed consent to use the personal information for the purposes stated in the application form.  The account application specifies the purposes for which your personal information may be collected, used or disclosed.  Your consent to some of these purposes is required in order to complete the transaction and without your consent to some of these purposes your application can not be processed and your account cannot be maintained.  Other purposes are not mandatory, and you may elect to withhold consent to the use or disclosure of your personal information for these purposes – see “Opting-Out” below.

Opting-Out

  • You may withdraw your consent at any time, subject to legal or contractual restrictions or requirements and reasonable notice.  In particular, you can choose not to allow us to use or disclose your personal information.  Please note that withdrawing your consent does not limit the content of our discussions when you contact us.  If you wish to withdraw your consent at any time, please contact us as outlined below.  We will inform you of the implications of withdrawing consent at that time.

Securing your data

  • We will take reasonable technical and organisational precautions to prevent the loss, misuse or alteration of your personal information. Here are some examples:
  • We keep information under physical, electronic or procedural controls that comply with or exceed regulatory standards;
  • We authorise our employees, agents and contractors to get information about you only when they need it to do their work for us; and
  • We require companies working for us to protect your personal information.  In addition, they agree to use it only to provide the services we ask them to perform for us.

Retaining of Your Personal Information

  • We retain your personal information for as long as necessary to fulfil the purpose(s) for which it was collected and to comply with applicable laws and your consent to such purposes remains valid after termination of our relationship with you.

Changes to this Privacy Statement

  • We reserve the right to modify this Privacy Policy at any time without notice.

Accessing, Correcting or Updating Your Information

  • You can help us maintain the accuracy of your personal information by notifying us of any changes to your information.  In order to request access to or correction or update your personal information, please contact us as outlined below.

Contacting Us

  • In the event that you wish to contact us for any of the reasons outlined in this Privacy Policy, or if you have any questions or concerns about your personal information, or if you have reason to believe that we may have failed to adhere to our Privacy Policy, you may contact us at:
    Associated Foreign Exchange, ULC
    Attention: Compliance Department
    200 Front Street, Suite 2203
    Toronto, ON M5V 3K2
    Or call us: (800) 363-7363