How does a bank protect your personal information?

Banks have to protect your personal and banking-related information, but there are situations in which it can release this information. Banks have a legal duty to protect the confidentiality of existing and former customers. Banks also have obligations under the Privacy Act 1993, which contains 12 privacy principles about personal information.

What does a bank need to know about your account?

A bank must ensure the information is correct and within the scope of the customer’s consent. A customer may, for example, agree to the bank’s disclosure of information about one account only.

Can a bank give out personal bank statements?

As soon as this account closed, i proceeded to open up one of my own without her. A week ago my mother requested a copy of the statements from my personal account so that she could see what bills I had been paying through auto-pay.I gave her the bills but refused to disclose my account information.

Who is required to give information to banks?

Banks can also be required to give information to the Inland Revenue Department (under the Tax Administration Act 1994), to the Ministry of Social Development (under the Social Security Act 1964) and to a company liquidator (under the Companies Act 1993).

Can a bank give you bank account information?

In some cases, banks will release information to a person who is named in writing by the account holder. Banks must provide law enforcement agencies with your bank account information if the law enforcement agency has a subpoena to receive the information.

How is bank account information shared with customers?

Each year and every time a new account is opened, banks are required under the Gramm-Leach-Bliley Act to present customers with a privacy policy that outlines how their account information is used. The notice must provide information about how to opt out of having any information shared.

How is bank account information used by law enforcement?

Banks must provide law enforcement agencies with your bank account information if the law enforcement agency has a subpoena to receive the information. Each year and every time a new account is opened, banks are required under the Gramm-Leach-Bliley Act to present customers with a privacy policy that outlines how their account information is used.

As soon as this account closed, i proceeded to open up one of my own without her. A week ago my mother requested a copy of the statements from my personal account so that she could see what bills I had been paying through auto-pay.I gave her the bills but refused to disclose my account information.