What information to collect

There is a requirement to collect only the information that is necessary (NPP1) for the efficient conduct of the business, such as opening and administering a bank account. We may not collect information that is not necessary for our business purposes, even if the customer consents to this.

The various VFS account application forms and prospectuses define the type of information required to set up that account.

You are required to collect all necessary information and record it accurately (NPP3). For example, in assessing a loan application, you must ensure that you collect and verify all the information required to properly make the credit decision.

We are required to disclose to customers:

• How we might use their personal information once it is collected
• Their right to access the information we hold about them
• Any third parties we might allow to access their personal information for business purposes.

These statements (as required under NPP1.3) are part of our application forms and prospectuses and require a customer's signature.