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Privacy Policy

General information

This Privacy Policy applies to all personal data that you provide to us or that we collect and process when you use the services provided by PayRay Bank, UAB by providing such personal data in person or by electronic means (by telephone, e-mail, website).

PayRay Bank, UAB respects your privacy and protects your personal data that you provide to us and that we collect as set out in this Privacy Policy. This Privacy Policy explains why we collect your personal data and how we use it.

Purposes of Processing and Recipients of the Data

PayRay Bank, UAB collects and processes your personal data that you provide yourselves or that we obtain from other sources for the following purposes:

  • Consultancy and customer needs assessment, query administration with a view of contracting with you and fulfilling our contractual obligations: ground of conclusion and performance of the contract and the ground of consent. The following data may be processed for the above purpose: name, surname, contact details (telephone number, email), company represented, text of the message. The data may be transferred to companies providing legal and audit services. The processors of such data are partners of PayRay Bank, UAB who provide database and IT equipment administration services;
  • The conclusion and performance of service contracts for the purpose of contracting with you and fulfilling our contractual obligations: ground for the conclusion and performance of the contract. The following data may be processed for the above purpose: name, surname, contact details (telephone number, email), job title. Data may be transferred to companies providing legal, audit and accounting services, companies providing postal and courier services, courts, arbitrators, notaries, bailiffs, debt collection companies, the State Enterprise Centre of Registers, credit assessment companies, including Creditinfo Lietuva, UAB, and public registers. The processors of such data are partners of PayRay Bank, UAB who provide database and IT equipment administration services, companies / persons providing debt collection services;
  • The conclusion and performance of financing contracts for the purpose of contracting with you and fulfilling our contractual obligations: ground of conclusion and performance of the contract. The following data may be processed for the above purpose: name, surname, personal identification number, date of birth, address, contact details (telephone number, e-mail), job title, address of the property item(s) to be recovered, details of the debt. The data may be transferred to companies providing legal, auditing and accounting services, companies providing postal and courier services, courts, arbitrators, notaries, bailiffs, the European Commission, any person acting on behalf of the European Commission, the EIF, the European Investment Bank, and other providers of financing under EIF guarantee, companies providing debt recovery services, the State Enterprise Centre of Registers, credit assessment companies, including Creditinfo Lietuva, UAB, public registers, Investicijų ir verslo garantijos, UAB. The processors of such data are partners of PayRay Bank, UAB who provide database and IT equipment administration services, companies providing debt collection services;
  • The drawing up and enforcement of performance bonds for the purpose of contracting with you and fulfilling our contractual obligations: ground of conclusion and performance of the contract. The following data may be processed for the above purpose: name, surname, personal identification number, date of birth, address, contact details (telephone number, e-mail), job title, address of the collateral, other details of the property held, details of the debt. The data may be transferred to companies providing legal and audit services, companies providing postal and courier services, courts, arbitrators, the police, notaries, bailiffs, debt collection companies, the State Enterprise Centre of Registers, credit assessment companies, including Creditinfo Lietuva, UAB, and public registers. The processors of such data are partners of the Company who provide database and IT equipment administration services, companies providing debt collection services;
  • Prevention of money laundering and terrorist financing for the purpose of implementing anti-money laundering requirements and determining your or the legal entity’s eligibility to become a client: the ground of legal obligation. The following data may be processed for the above purpose: name, surname, personal identification number/date of birth/other unique set of characters identifying identify the person, telephone number, e-mail, nationality, passport or ID card number, dates of issue and expiry of the passport or ID card, photographic image, gender, signature, residential address, job title, information on the relationship with politics, name and surname of the persons involved in politics and their job titles, number of shares held, number of votes held and public sources where information on the ultimate beneficiary can be confirmed. The data may be transferred to the Financial Crime Investigation Service, the Bank of Lithuania, companies providing legal, auditing and accounting services, other law enforcement authorities, courts, arbitrators, the police, bailiffs and notaries. The processors of such data are partners of PayRay Bank, UAB who provide database and IT equipment administration services;
  • Creditworthiness assessment for the purpose of assessing your creditworthiness and concluding and performing a contract with you: the grounds of concluding and performing a contract, consent and legal obligation. The following data may be processed for the above purpose: name, surname, personal identification number, date of birth, nationality, address, telephone number, email, job title, name of employer, number of dependants, the type and maturity of debt obligations, instalment amount, outstanding balance; amount of credit insurance, start and end dates of employment, economic or self-employment activities, fixed and lump-sum social benefits received and granted, income and expenditure, type and sources of income, types of social benefits, value of real property items owned, details of the real property item (type, purpose, floor area, registration number, registration address, any existing liens and restrictions as well as amounts of liens on such property), details of vehicles owned (technical details and registration number, make and any existing liens as well as amounts of liens on such vehicles), securities, their amount and name of the company as well as any existing liens and lien amounts on such securities, deposits, name of bank deposits, type and maturity of the deposit, non-employment income and assets: amounts of income and assets, tax return, types of economic activity from which the income is derived, liens and restrictions on ownership, creditworthiness data contained in databases held by credit assessment companies, data on personal documents, attachments of property, registration and deregistration dates of property attachment order, the person in whose favour the attachment is made (the creditor), and the manner of attachment. The data may be transferred to the State Social Insurance Fund Board, the State Tax Inspectorate under the Ministry of Finance of the Republic of Lithuania, companies providing legal, auditing and accounting services, companies providing postal and courier services, courts, arbitrators, the police, notaries, bailiffs, the State Enterprise Centre of Registers, credit assessment companies, including Creditinfo Lietuva, UAB, public registers. The processors of such data are partners of PayRay Bank, UAB, who provide database and IT equipment administration services;
  • Direct marketing – for the purpose of informing you about our services: the ground of consent. The following data may be processed for the above purpose: name, surname, email address, telephone number, job title, position held, creditworthiness details contained in databases held by credit assessment companies. The processors of such data are partners of PayRay Bank, UAB, who provide website and/or database and IT equipment administration services;
  • Selection of candidates for positions for the purpose of employing you in our company: the ground of consent and conclusion of an employment contract. The following data may be processed for the above purpose: name, surname, education, work experience, skills, the candidate’s financial expectations and any other information contained in the CV or other documents submitted by the candidate. The data may be transferred to companies providing legal and audit services. The processors of such data are partners of PayRay Bank, UAB who provide database and IT equipment administration services;
  • Video surveillance for the purpose of ensuring public order, security, property and the rights and freedoms of individuals: the ground of legitimate interest. For this purpose, image data (image of the person, date of surveillance, time of surveillance) are processed. The processors of such data are partners of PayRay Bank, UAB who provide database and IT equipment administration services as well as companies providing rental services; No data are transferred to third countries or international organisations.
* If you do not provide us with personal data that is necessary for the conclusion and/or performance of a contract or that is required by law or contract, we will not be able to provide you with services.

In compliance with legal requirements, PayRay Bank, UAB may transfer personal data to state institutions and bodies, other persons performing functions prescribed by law, the police, courts, arbitrators, other dispute resolution and law enforcement authorities, based on their requests or on the initiative of PayRay Bank, UAB.

For the purposes of contractual obligations, business operations and internal administration of PayRay Bank, UAB, as well as for the purposes of protecting the interests of PayRay Bank, UAB, personal data may be transferred to companies providing postal, courier and other forwarding services, to the service providers of PayRay Bank, UAB providing auditing, legal, tax, accounting, recruitment services, to companies providing debt management services, companies providing credit insurance services as well as companies providing IT services.

Legal Grounds for Processing

PayRay Bank, UAB processes your personal data on the following legal grounds:

  • Your personal data is necessary for the conclusion and performance of the contract with PayRay Bank, UAB;
  • You have consented to the processing of your personal data;
  • The processing of your data is necessary to comply with our legal obligation;
  • The processing of your personal data is necessary for the purposes of the legitimate interests of PayRay Bank, UAB, such as:
    • To protect the legal interests of PayRay Bank, UAB and to exercise its remedies;
    • To improve the quality of our services, ensure the integrity of our operations and match our services to your needs;
    • To protect property and the health and life of staff members and other persons.

Data Retention Periods

We process and store all your personal data for no longer than is necessary for the purposes set out in this Privacy Policy. PayRay Bank, UAB will retain your personal data in accordance with the following time limits:

  • Consultancy data, customer needs assessment and website query data: 3 years.
  • Data on the conclusion and performance of service contracts, financing contracts and performance bonds (surety, guarantee, promissory note): 8 years after the end of the business relationship (contract);
  • Creditworthiness assessment data: 8 years after the end of the business relationship (contract), or 3 years after your application for a contract if no contract is concluded;
  • Data used for money laundering and terrorist financing prevention purposes: 8 years after the end of the business relationship. The retention period may be extended by up to two (2) years on the grounds provided for by law;
  • Direct marketing data, subject to your consent: 5 years from the date of obtaining such consent;
  • Data on the selection of job candidates: selection period or 1 year if consent is obtained;
  • Image data: 3 months.

Profiling

PayRay Bank, UAB may carry out your profiling. The requirements of the Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing may be implemented by using a decision-making technique based on automated processing. PayRay Bank, UAB uses profiling techniques designed to ensure that the result obtained is transparent and non-discriminatory; it also uses reliable means to verify and ensure that the personal data used for profiling are correct and up-to-date. The result of the data obtained by automated means is continuously tested to ensure the correctness, efficiency and objectivity of the result.

Implementing the Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing, we process the following personal data for profiling purposes: name, surname, date of birth, place of residence (address), nationality, income, source of income, job title, type of business activity, information on political exposure, number of shares held in the company and other data provided in the KYC profile or obtained from external sources such as international sanctions lists, publicly available information, etc.

In the process of profiling, the personal data provided for the purposes of implementing the Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing will be processed in keeping with the time-limits set out in the relevant chapter of the Privacy Policy (Data Retention Periods).

The process of profiling and automated decision-making for the purposes of implementing the Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing shall be used to determine whether the establishment and continuation of the business relationship with the customer shall be without prejudice to the legal requirements on the prevention of money laundering and terrorist financing. The system checks whether a business relationship with a person can be established or continued and determines the level of risk. If the decision is negative, it is sent to PayRay Bank, UAB staff for review and may be changed.

You have the right to object to automated data processing, including profiling, and the right to request verification and evaluation of the result by a responsible employee of PayRay Bank, UAB, the right to express your opinion on the decision, the right to contest the automated decision and to obtain a clarification of the decision, the right to be informed about automated decision-making, the logic used, the meaning of the process and potential implications, such as refusal of credit, application of higher interest rates.

Data Sources

We may obtain your personal data from the following sources:

  • Credit assessment companies, such as Creditinfo Lietuva, UAB or any other third parties that analyse and assess credit information, etc;
  • Companies that provide tools designed to implement the requirements aimed at preventing money laundering and terrorist financing;
  • State registers, such as the registers operated by State Enterprise Centre of Registers and the Centre of Registers, State Enterprise Regitra, etc;
  • Public bodies/companies such as the State Tax Inspectorate under the Ministry of Finance, etc;

Legal entities of which you are (ultimate) beneficiaries or participants; members of your family.

Data Protection

We apply the security and processing requirements set out in the Republic of Lithuania Law on the Legal Protection of Personal Data and the General Data Protection Regulation of the European Union EU 2016/679.

PayRay Bank, UAB takes appropriate technical and organisational measures to ensure the protection of all personal data processed against accidental or unlawful destruction or accidental loss, alteration, unauthorised disclosure or access, and against all other unlawful forms of processing.

Your Rights

You have the following rights in relation to your personal data:

  • the right to request that PayRay Bank, UAB grant access to and rectify /erase the data, or restrict the processing of the data;
  • the right to object to processing;
  • the right to receive your personal data in a structured, commonly used and computer-readable format (right to data portability);
  • the right to withdraw your consent;
  • the right to lodge a complaint with the State Data Protection Inspectorate;
  • other rights provided for in the Privacy Policy and in the legislation.

Your rights set out in this Privacy Policy are also applicable in the event where the data has been obtained otherwise than directly from (e.g. if you are the (ultimate) beneficiary or participant of a legal entity, or if your personal data has been provided by a member of your family).

Social Media

PayRay Bank, UAB has its accounts on Facebook (https://www.facebook.com/PayRayBank/) and Linkedin (https://www.linkedin.com/company/payray-bank/) social networks.

Legal basis for processing data via social media accounts: GDPR Article 6(1)(f) (processing is necessary for the purposes of legitimate interests pursued by the company to ensure the furtherance of its business).

Any information collected when you visit our social network accounts is controlled by the social network operators; we therefore recommend that you read their privacy notices. The types of data collected by social network operators are specified in the privacy policies adopted by the social network operators. The amount of data that PayRay Bank, UAB obtains from social networks depends on the selected account settings, agreements with social network operators on additional services, and cookies set by social network operators.

As the administrator of the social accounts PayRay Bank, UAB chooses the appropriate settings, but the social network operator may have restricted the ability to change certain key settings and thus PayRay Bank, UAB cannot control what information the social network operator collects about you. Where you view the messages of PayRay Bank, UAB on social networks, the social network operator may receive certain personal information that is not related to the activities carried out by PayRay Bank, UAB, such as details of your terminal device and your IP address.

The PayRay Bank, UAB website uses plug-ins to redirect users to the PayRay Bank, UAB social network accounts on Facebook and Linkedin.

By clicking on Facebook or Linkedin plugin icons, you are redirected to the Facebook or Linkedin page of the plugin operator, and the plugin operator PayRay Bank, UAB is provided with the data of the webpage where the query originated as well as the time and date of the query.

The information that a person submits on a plugin operator’s webpage or that a person receives when visiting the links of the plugins on the website of PayRay Bank, UAB is controlled by the plugin operators, so we recommend that you read their privacy notices.

Contacts

You may exercise your rights by contacting PayRay Bank, UAB by e-mail info@payray.bank or by post at 25, Lvivo St., 09320 Vilnius. To this end, we ask you to provide proof of identity with your query.

Contacts for the Data Protection Officer

You can contact us by email: dap@payray.bank, by visiting our office at 25, Lvivo St. (11th floor, Mažoji Burė building), Vilnius or by post: 25, Lvivo St., LT-09320, Vilnius.

Effective Date and Amendments

This updated Privacy Policy is effective from 10 October 2023. If we make any changes to this Privacy Policy, the updated version will be published on our website www.payray.bank. Changes and/or additions to the Privacy Policy shall come into force upon their publication on the website.

Previously valid Privacy Policy versions

Privacy policy valid from 2018-10-29
Privacy policy valid from 2018-12-17
Privacy policy valid from 2019-04-25
Privacy policy valid from 2019-07-15
Privacy policy valid from 2019-12-31
Privacy policy valid from 2020-05-26