Introduction
Monshare LTD. (“we”, “us”, “company” or “monshare”), is a company registered in England and Wales whose registered office is at 71-75 Shelton Street, Covent Garden, London, England, WC2H 9JQ (registered number 12079850).
Monshare treats user trust and privacy very seriously and is committed to full transparency when it comes to what data is collected and how it is being used. For the purposes of personal data collection via the website (https://monshare.io) or Monshare application (accessed via any device), Monshare defines itself as ‘Data Controller’.
Use of Monshare website
When using Monshare website the following data may be collected:
Your email and name if you provide those when using contact form on the web site. This data will be used for communicating our latest developments or amazing offers we have in stock for you. If you no longer wish to receive such communication, you can unsubscribe at any point by dropping an email to hello@monshare.io.
We also collect data about how you interact with our website through the use of cookies. The data is used to enhance online experience and analysis of the effectiveness of different efforts (e.g. growth of number of unique visitors etc.) For more information on cookies please refer to www.allaboutcookies.org.
Use of Monshare Application
What data we collect
When you use our application we will have access to your personal data that you submit to us and personal data held by Account Servicing Payment Service Providers (i.e. any payment service provider, such as a bank or a credit card issuer that maintains an online payment account on your behalf) (“ASPSPs”) (“Personal Data”) for the duration of the transmission. Such Personal Data may include your date of birth, gender, account information, account balance, transactions, information on loans and investments data. In addition, in order to improve usability of Monshare applications, we collect data on your interaction with the application: screens you open, buttons you link, how long it takes to perform specific actions etc.
How we use your personal data
Your personal data can be used for one of the following purposes:
Providing you the core Monshare Services – analysis and management of your personal and shared spend
Sharing transactions you chose to share with your Pot collaborators as agreed by you (when you invite someone to your pot or accept someone else’s invitation)
Finding the best deals and saving opportunities based on your historic spend
Providing you and other users with benchmarking data, for example how your spend or savings compare to those with similar income.
Improving usability of our application and our services to you.
In order to access and use the main functionality of our Services, we will direct you to use one of our trusted service providers or an ASPSP that implements Open Banking in order to transmit and access information (including personal data) relating to payment accounts (“Account Information”) that you hold with ASPSPs to us. At the moment the only provider we are using is SaltEdge Inc., which is FCA-authorized, ISO 27001 certified in scope of “developing, managing, and providing financial IT services”, as well as PCI DSS compliant, which represents a guarantee of high-security requirements and standards.
We don’t collect your bank credentials at any point of time, all the credentials are passed through Salt Edge platform.
Consent
We’ll be able to access your Account Information (including any Personal data), if you give us explicit consent to do so. We will only ask for consent for reading last 3 months of your transactions, NOT performing any payments on your behalf.
If at any point of time you wish to withdraw your consent, please drop us an email to hello@monshare.io.
Deletion of Personal Data
We will delete your personal data at the moment it is no longer needed, for example if you chose to request deletion of your account.
If your data was used to create any derivative non-personally identifiable information, we may not be able to delete it. For example, if we calculated average bill size at certain restaurants based on multiple transactions, including some related to your, we won’t be able to exclude your ‘part’ of transaction from this average.
As a general rule we will not share any of your personally identifiable information with third parties. We may need to share dates and amounts of transactions you performed based on our suggestions with respective vendors, however they would have this information in their database anyway. For example, if we show you a discount on cheapwebsite.com and you decide to perform a purchase there worth 50GBP on Jan, 1st, we will invoice cheapwebsite.com for this purchase and will mention date of the transaction, amount and last 4 digits of the card you used.
Keeping Your Personal Information Secure
Your security is our priority and we have all the required technical and administrative procedures in place to help protect your personal data from unauthorized access.
Contact
Should you wish to request personal data we have collected about your or make a complaint, please reach out to hello@monshare.io. Please note that in order to process your request for personal data we will need your full name, address and the period for which you are requesting the data.
Changes To This Policy
Any significant changes to this policy we will be sent via email to you. All other changes will be uploaded to https://monshare.io web site.