Your privacy
Privacy Policy
Effective Date: 17 October 2026 · Last Updated: 17 October 2026
1. Introduction
The Bank respects the privacy of individuals who use its website, apply for its products, maintain accounts with it, or otherwise interact with its services.
This Privacy Policy explains how the Bank collects, uses, stores, discloses, and protects personal information, as well as rights individuals may have regarding their information. The applicable legal requirements depend on the Bank's actual place of incorporation, regulatory status, operations, and the individuals whose information it processes.
2. Who We Are
- Data Controller: Austrabank Oversease Panama
- Registered Address: Box number 4129 Panamá 5
- Privacy Contact: privacy@austrabank.com
- Data Protection Officer:
- Website: austrabank.com
The Bank's legal identity and contact information must be verified before this policy is published.
3. Personal Information We Collect
Depending on the services used and applicable legal requirements, the Bank may collect the following categories of personal information.
A. Identity information
- Full legal name.
- Date of birth.
- Nationality and country of residence.
- Government-issued identification details.
- Photographs or identity-verification images, where necessary.
B. Contact information
- Residential and mailing addresses.
- Email addresses.
- Telephone numbers.
- Emergency or authorized contact information, where applicable.
C. Financial and transactional information
- Account identifiers and account balances.
- Transaction history and payment instructions.
- Deposit, withdrawal, and transfer details.
- Source-of-funds and source-of-wealth information where required.
- Tax residency and relevant financial declarations.
D. Verification and compliance information
- Customer due diligence records.
- Beneficial ownership information.
- Sanctions and legally required screening results.
- Fraud-prevention indicators and investigation records.
- Documents required to meet legal and regulatory obligations.
E. Technical information
When individuals use digital services, the Bank may collect information such as IP addresses, device and browser characteristics, login records, security events, and information about how the services are accessed. Cookies and similar technologies may also be used where applicable and in accordance with cookie practices and legal obligations.
F. Communications
The Bank may retain customer support messages, complaints, correspondence, and other communications relating to its services. It seeks to collect only information relevant and necessary for the purposes described in this policy or otherwise permitted by law.
4. How We Collect Personal Information
The Bank may collect personal information:
- Directly from an individual applying for or using services.
- When forms, identification documents, or account instructions are submitted.
- Through authorized identity-verification and compliance providers.
- From payment networks, correspondent banks, or other institutions involved in a transaction.
- From public or official sources where legally permitted.
- Through the website, applications, and security systems.
- From authorized representatives or business partners where lawful.
Where information is obtained from another source, the Bank will provide notices required by applicable law.
5. Purposes for Processing Personal Information
The Bank may process personal information for the following purposes, where a lawful basis exists:
- Providing banking services: Opening and maintaining accounts, processing deposits and withdrawals, executing transfers, and providing customer support.
- Identity verification: Confirming customer identity, preventing impersonation, and satisfying customer due diligence requirements.
- Legal and regulatory compliance: Meeting applicable anti-money-laundering, counter-terrorist-financing, sanctions, tax, reporting, recordkeeping, and other legal obligations.
- Fraud and security prevention: Detecting suspicious activity, investigating unauthorized access, protecting accounts, and safeguarding banking systems.
- Service administration: Maintaining records, reconciling transactions, managing complaints, and improving operational reliability.
- Communications: Sending service notices, security alerts, transaction notifications, and information necessary to administer an account.
- Legal claims and dispute resolution: Establishing, exercising, or defending legal rights and responding to lawful requests from competent authorities.
- Marketing: Sending promotional communications only where an appropriate legal basis exists and subject to applicable consent and opt-out requirements.
The Bank will not use personal information for materially incompatible purposes without an appropriate legal basis or other authorization required by law.
6. Legal Bases for Processing
Depending on applicable law and the circumstances, the Bank may process personal information on the basis of:
- Performance of a contract or steps requested before entering into a contract.
- Compliance with legal or regulatory obligations.
- Legitimate interests, where recognized by applicable law and where the individual's rights do not override those interests.
- Consent, where consent is required or relied upon.
- Establishment, exercise, or defense of legal claims where legally permitted.
Where processing depends on consent, it may be withdrawn subject to applicable law. Withdrawal does not invalidate processing lawfully carried out before withdrawal.
Certain information may be necessary to provide banking services or comply with mandatory legal obligations. If required information is not provided, the Bank may be unable to open an account or continue providing a particular service.
7. Disclosure of Personal Information
The Bank may disclose personal information to the following categories of recipients where necessary and lawful:
- Service providers: Providers supporting secure hosting, information technology, identity verification, payment processing, communications, and operations.
- Financial institutions: Correspondent banks, receiving banks, payment networks, and other institutions involved in processing transactions.
- Professional advisers: Lawyers, auditors, accountants, and other professional advisers subject to appropriate confidentiality obligations.
- Regulatory and public authorities: Courts, regulators, law enforcement agencies, tax authorities, and other competent authorities where disclosure is legally required or otherwise lawful.
- Corporate and business counterparties: Other parties involved in a lawful corporate transaction or restructuring, subject to appropriate safeguards and legal requirements.
- Fraud prevention and security partners: Organizations assisting with prevention, detection, or investigation of fraud and financial crime where disclosure is permitted by law.
Recipients are not authorized to use personal information for unrelated purposes merely because they receive it. Relevant contractual, legal, and security safeguards will be applied as appropriate.
8. International Data Transfers
Because financial transactions and supporting services may involve multiple countries, personal information may be transferred to or accessed from jurisdictions outside the country where it was collected.
Where international transfers occur, the Bank will apply safeguards required by applicable law. These may include contractual protections, assessments of the recipient jurisdiction, access restrictions, and other legally recognized transfer mechanisms. Information may also be disclosed across borders where required to process a transaction or comply with a lawful request.
The Bank will not claim that a particular international transfer safeguard is in place unless it has actually been implemented.
9. Data Security
The Bank will implement and maintain appropriate technical and organizational measures designed to protect personal information against unauthorized access, accidental loss, destruction, alteration, and unlawful disclosure. Measures may include:
- Access controls and role-based permissions.
- Encryption where appropriate.
- Authentication and account-security controls.
- Security monitoring and incident response procedures.
- Staff confidentiality obligations and relevant training.
- Secure data storage and disposal procedures.
- Vendor security assessments where appropriate.
No electronic transmission or storage system can be guaranteed completely secure. This does not remove the Bank's responsibility to implement safeguards required by applicable law. Customers should protect their passwords, authentication codes, devices, and other account credentials.
10. Data Retention
The Bank retains personal information for as long as reasonably necessary for the purposes for which it was collected, including service provision, legal compliance, dispute resolution, fraud prevention, and establishing or defending legal claims. Retention periods may vary based on:
- The type of information.
- Whether an account or contractual relationship remains active.
- Applicable banking, tax, anti-money-laundering, and recordkeeping requirements.
- Pending investigations, disputes, or legal proceedings.
- Applicable legal obligations to preserve records.
When information is no longer required, it will be securely deleted, anonymized, or otherwise disposed of under applicable law and retention procedures. Immediate deletion is not promised where the law requires records to be retained.
11. Your Privacy Rights
Subject to applicable law, individuals may have the right to:
- Request access to personal information.
- Request correction of inaccurate or incomplete information.
- Request deletion or cancellation of information where legally justified.
- Request information about how data is processed.
- Request a copy of certain information in a portable format where applicable.
- Object to or restrict certain processing where such rights are available.
- Withdraw consent where processing relies on consent.
- Submit a complaint to the competent data protection authority.
These rights are subject to legal exceptions. For example, the Bank may be required to retain records or legally restricted from disclosing information connected with a confidential investigation. To exercise an applicable right, use the privacy contact details in this policy. Identity verification may be required. The Bank will respond within the period required by applicable law.
12. Cookies and Similar Technologies
The website may use cookies or similar technologies to support essential functionality, security, session management, and user preferences. Where analytics or advertising technologies are used, required notices, choices, or consent mechanisms will be provided.
Cookies may be controlled through browser settings. Disabling certain cookies may affect website functionality. Specific cookie categories, third-party services, and retention periods should be listed in a separate cookie notice where appropriate.
13. Marketing and Communications
The Bank may send communications necessary to administer an account, inform customers about transactions, notify them of security issues, or provide service updates. Promotional communications will be handled under applicable marketing and data protection laws. Where an opt-out right applies, customers may use the provided unsubscribe mechanism or contact the Bank directly. Opting out of promotions will not prevent essential service, security, or legally required notices.
14. Automated Processing and Fraud Detection
The Bank may use automated systems to help identify unusual transactions, detect potential fraud, support security monitoring, and meet compliance obligations. Where a decision is made solely through automated processing and applicable law provides rights or safeguards, the Bank will comply with those requirements.
Depending on the circumstances, an individual may have the right to request additional information, challenge a decision, or obtain human review. An automated decision will not be represented as final where additional review is required by law or procedure.
15. Children's Information
Banking services are not directed toward children unless a particular product is expressly designed and legally authorized for them. If information about a minor is collected for a lawful banking purpose, it will be handled under applicable legal requirements, including required parental, guardian, or representative involvement.
16. Personal Data Breaches
If a personal data incident occurs, the Bank will investigate and take appropriate steps to contain, assess, and remediate it. Where required by applicable law, the Bank will notify relevant authorities and affected individuals within applicable time limits. Notifications will be based on the facts of the incident and legal requirements.
17. Third-Party Websites and Services
The website or digital platforms may contain links to third-party websites or services. Those parties may maintain separate privacy policies and practices. The Bank is not responsible for the privacy practices of independent websites it does not control. Customers should review third-party privacy notices before submitting personal information.
18. Changes to This Privacy Policy
The Bank may update this Privacy Policy to reflect changes in services, technology, business operations, or legal obligations. The updated version will display its revised effective date. Where required by law, additional notice will be provided or consent obtained before implementing a material change. The current version should be available through the official website or another appropriate communication channel.
19. Contact Us
For privacy questions, requests, or complaints, contact:
- Austrabank Oversease Panama
- Privacy Email: privacy@austrabank.com
- Data Protection Officer:
- Registered Address:Box number 4129 Panamá 5
- Telephone: +507 833 7042
- Website: austrabank.com
Do not send passwords, PINs, full payment-card security codes, or other authentication credentials in a privacy request.
20. Applicable Law
This Privacy Policy is intended to operate alongside data protection and banking laws applicable to the Bank and relevant processing activities. Where Panamanian law applies, the Bank must assess the requirements of Law 81 of 2019, Executive Decree 285 of 2021, and applicable sector-specific banking rules, including requirements governing customer information.
The precise legal framework and competent supervisory authority must be confirmed based on the Bank's verified legal identity, licensing status, and activities.