1. Is My Personal Data Safe?

Privacy is very important to us and we are determined to protect your personal data as well as your money.

Holvi will never hand over your data to any third parties without your consent or without a legal obligation to do so.

2. Is My Money Safe?

Yes, your money is safe with Holvi. We’re licensed and regulated by the Financial Supervisory Authority of Finland (FIN-FSA) as an authorised payment institution under the Payment Services Directive 2 (PSD2). This licence allows us to offer our services within the European Economic Area, which includes the UK. This is in accordance with guidelines from the Financial Conduct Authority (FCA), the regulatory body responsible for reviewing and approving our UK licence.

The European Banking Authority (EBA) guidelines tell us exactly how we need to hold and safeguard our customers’ funds. In accordance, we hold funds in separate accounts with partner banks, where they’re safely protected under the applicable deposit insurance. 

To sum up: 

• Your money is safe with Holvi
• All Holvi customer funds are held in separate accounts at partner banks. This means that in the unlikely event of Holvi's insolvency, customer funds would remain unaffected
• Our customers can access their money at any time

3. What Technologies Does Holvi Use to Secure the Site?

Holvi follows security standards defined by the FIN-FSA, including standard on Reliable Governance and Risk Management. We use the latest tools and techniques to secure our network, servers, software and web applications.

Holvi services are built upon secure Amazon Web Services and robust open-source components. Amazon Web Services are located in the EU region.

Your communication with the website is protected by strong TLS/ SSL encryption.

4. How Does Holvi Manage My Confidential Information?

Security is Holvi's top priority. All customer information is securely stored within Holvi’s systems. We provide bank standard security for all our customers’ personal data.

According to Finnish law, we are required to comply with the customer due diligence standards, which means that we must identify and know our customers. Besides personal details of the customer, we must have sufficient information on the customer’s activities, financial position, banking practices, and purpose for which the services are used.

Your confidential information is used for customer verification purposes, so that we can identify all Holvi account ownerships as required by law, and to contact you with regards to your account. Furthermore, customer information is used for the prevention of money laundering and terrorist financing. Holvi is working actively to protect your financial interests and also counteracting illegal activities such as fraud attempts, ID theft, human trafficking, drug dealing, terrorist financing and financial crime like money laundering and tax evasion.

Any information or documentation given to us is treated in confidence in compliance with the Finnish guidelines on banking secrecy. Holvi will never hand over your data to any third parties without your consent or without a legal obligation to do so.

According to the applicable prevention of money laundering and terrorist financing regulation Holvi is required to store customer due diligence and transaction information for five years after the termination of a regular customer relationship. 

5. What Can I Do To Keep My Own Computer Secure?

Always install the latest security updates and an up-to-date anti-virus software. Avoid installing applications from sources you don’t trust completely. Do not open any suspicious email attachments or click on links received people you might not know. Keep and use your access codes carefully and do not let other people use your accounts.