Privacy policy

This Privacy Policy sets out how Moneywave Sdn. Bhd. (hereinafter referred to as "Moneywave") will handle personal information in accordance with the Personal Data Protection Act 2010 ("PDPA 2010") and the laws of Malaysia. Please take a moment to read our Privacy Policy before using our Platforms or submitting any personal information to the Platforms.

1. Definitions and interpretations

Unless the context requires otherwise, the following words and expressions shall have the following meanings:

"Data Protection Officer"

refers to the individual appointed by Moneywave to oversee and ensure compliance by Moneywave with the PDPA 2010 and all applicable data protection laws in Malaysia;

"IP Address"

a unique numerical label assigned to every device connected to a network, enabling data routing across the internet;

"Moneywave" or "Moneywave Sdn. Bhd."

a company licensed by Bank Negara Malaysia to carry out currency exchange and remittance businesses and incorporated under the laws of Malaysia with company number 199401041877 (327565-T);

"Personal Data"

has the meaning ascribed to it in Clause 3.1;

"PDPA 2010"

refers to the Personal Data Protection Act 2010;

"Platforms"

collectively, Moneywave's Website, mobile application, over-the-counter branches and other digital or physical delivery channels through which the Services are made available or accessible;

"Services"

currency exchange and remittance services provided by Moneywave and made available through the Platforms;

"User", "you" or "your"

any person (including individuals, companies, or authorised representatives) who accesses, browses, uses, or attempts to use the Platforms or Services, whether registered or not; and

"Website"

Moneywave's internet site including but not limited to https://moneywaveonline.com/.

2. Moneywave's privacy policy

2.1 This Privacy Policy describes what, how and why Moneywave's Platforms collect, store, process, disclose, access, review, use and transfer the User's Personal Data, whether obtained directly from the User or other lawful sources which Moneywave deal with or connected with the User (including but not limited to the financial institutions and credit reporting agencies). You shall be bound by this Privacy Policy and Moneywave shall not use any information supplied, except in accordance with this Privacy Policy.

2.2 By browsing, accessing, using, visiting and continuing to browse, access, use and visit of Platforms, you acknowledge having read, understood and accepted to the terms and conditions provided under this Privacy Policy and you acknowledge that Moneywave may modify these terms and conditions from time to time. Users who do not agree with the terms set out in this Privacy Policy are advised to refrain from accepting them and are also advised to refrain from using any Services.

2.3 Where Moneywave processes Personal Data for marketing communications, such processing will be subject to your marketing preferences and you may withdraw such preferences at any time in accordance with Clause 5 and Clause 12 below.

3. Collection of personal data

3.1 The Personal Data collected and processed or to be collected and processed by Moneywave may include the following:

(a) your name, race, ethnicity, national registration identity card number, passport number, nationality, residential and/or correspondence address, email address, phone numbers, marital status, occupation, employer's details and income information;
(b) username and password registered with Moneywave's Platforms, marketing opt-ins, survey responses or any other information in connection with the Services which you have undertaken with the Platforms or registered your interest with for enquiry, updates and information;
(c) your image and photo, by way of video surveillance installed in some parts of our premises as part of our security infrastructure;
(d) your network usage data and other information gathered automatically by our Platforms, including through cookies and similar technologies (where applicable), your computer internet protocol address ("IP Address"), links visited and other activities conducted online or using our Platforms;
(e) financial information relating to your transaction history with Moneywave including but not limited to your bank account details, debit card and credit card number, billing address, personal and financial information of the intended recipient or any other individuals who may be identified from the transactions; and
(f) any other relevant information which Moneywave may require, including those from lawful third-party sources (i.e., verification partners, screening databases or public sources) to comply with the laws of Malaysia in order to effectively provide you with the usage of Services and/or Platforms.

3.2 The provision of Personal Data is your sole and absolute discretion. That said, without it, Moneywave may not be able to communicate with you, provide you with the usage of Services required or grant access to certain areas of the Platforms which would require authentication.

3.3 Where Moneywave indicates (whether on the Platforms or otherwise) that certain Personal Data is mandatory, this is because Moneywave requires such Personal Data to provide the Services and/or to comply with its legal and regulatory obligations, and if you do not provide such mandatory Personal Data, Moneywave may be unable to provide the Services to you, complete your transaction, or continue to maintain your account.

4. Cookies and similar technologies

4.1 Moneywave's Website may use cookies and similar technologies to enable the Website to function, to improve performance and User experience, and to understand how the Website is used. Cookies are small files stored on your device which help websites function more efficiently and retain certain browsing information.

4.2 The types of cookies Moneywave may use include:

(a) strictly necessary cookies, which are required for the operation and security of the Website; and
(b) analytics and preference cookies, which help Moneywave to understand Website usage and remember certain settings.

4.3 You may manage cookies through your browser or device settings, including by blocking or deleting cookies. If you choose to block or delete cookies, certain features of the Website may not function properly.

4.4 Where cookies involve the processing of Personal Data and such processing requires your consent, Moneywave will seek your consent through an appropriate cookie notice and preference mechanism made available on the Website.

5. Purposes of collections

5.1 The purpose for which Moneywave requests, collects and processes the Personal Data include the following (and purposes directly related to the following):

(a) To provide Services to you and to grant you access to any Services and/or Platforms of Moneywave, including to register you as a User (where applicable), administer your account, authenticate access, process your transactions, and issue confirmations and receipts;
(b) For Moneywave's Know-Your-Customer screening activities or performing credit reporting checks, including identity verification, customer due diligence, sanctions screening, fraud screening and other screening and monitoring required to comply with applicable laws and regulatory requirements;
(c) To manage your account on Moneywave's Platforms and provide you with customer support including responding to enquiries and providing service-related notices and communications;
(d) To conduct research, develop and improve our Services and/or Platforms for your use including analytics, troubleshooting, testing, and service optimisation;
(e) For Moneywave's internal administrative purpose, general operation and maintenance of the Platforms including audit, governance, risk management, compliance and record-keeping;
(f) To develop and display content tailored to your interests on the Platforms;
(g) To provide you with regular communications from Moneywave relating to the Services and/or Platforms;
(h) For investigation of complaints, suspected suspicious transactions and research for Service and/or Platforms improvement; and
(i) For Moneywave to comply with its obligations under the laws of Malaysia.

5.2 Marketing communications are optional. Where Moneywave sends you marketing or promotional communications, Moneywave will do so in accordance with your marketing preferences, and you may opt out at any time by using the unsubscribe facility (where available) or contacting Moneywave's Data Protection Officer in accordance with Clause 12. For avoidance of doubt, opting out of marketing will not affect service-related communications that are necessary to provide the Services (for example, transaction confirmations or security alerts).

6. Disclosure of personal data

6.1 The Personal Data provided to Moneywave will generally be kept confidential. However, the Personal Data may be disclosed, shared and/or transferred to the following third parties and such parties shall comply with the obligations as set out under this Privacy Policy and the laws of Malaysia in relation to the protection of your Personal Data:

(a) members of Moneywave's group of companies, including subsidiary company, associate company and related company (in Malaysia and overseas) for group governance, internal reporting, compliance and operational support;
(b) financial institutions, remittance partners, business partners and service providers engaged by Moneywave to provide related services in connection with Moneywave's Services, including for payment processing, transaction settlement, verification, refunds and reversals (where applicable), and to support the delivery of the Services;
(c) any third parties, whether local or overseas, who assist Moneywave in collecting and processing the Personal Data and for the operation, maintenance, security and improvement of the Platforms and Services;
(d) Moneywave's auditors, consultants, accountants, lawyers and/or legal, financial or professional advisors, for advice, audit, compliance, due diligence and any necessary investigating incidents or complaints;
(e) any third parties to whom such disclosure is authorised, whether expressly or impliedly, by you; and
(f) any governmental authorities as required by law, regulations, court order or other legal process. If permitted under the law, Moneywave shall duly inform you of such disclosure.

6.2 Where third parties process Personal Data on Moneywave's behalf, Moneywave will take reasonable steps to require such parties to protect the confidentiality and security of Personal Data and to process Personal Data only for the purposes for which they have been engaged.

7. Security of personal data

Moneywave is committed to safeguarding your Personal Data in full compliance with the data security requirements prescribed under the PDPA 2010 and this Privacy Policy. You hereby acknowledge that any data transfer vide Moneywave's Platforms and/or Services carries inherent risk. While Moneywave cannot guarantee its absolute security, Moneywave will adopt all practicable measures to retain and process the Personal Data in a secure manner. Moneywave endeavours, where practicable, to implement the appropriate administrative and security safeguards and procedures to prevent the unauthorised or unlawful processing of the Personal Data and the accidental loss or destruction of or the unauthorised access of the Personal Data.

8. Retention of personal data

Moneywave retains and processes your Personal Data only for as long as necessary to provide you with the usage of the Services and/or Platforms and for the purpose of any other purposes as required under the laws of Malaysia. In the event of such discontinued usage or if the Personal Data retained is no longer required, Moneywave shall take all reasonable steps to ensure that all personal data is destroyed or permanently deleted.

9. International personal data transfer

Moneywave may, and you hereby acknowledge and consent to, disclose or transfer, store and/or process your Personal Data in a place outside of Malaysia where necessary to provide the Services, operate the Platforms, engage service providers, deal with counterparties (including financial institutions and remittance partners), or for other purposes set out in this Privacy Policy (and purposes directly related to those purposes). Where such transfers occur, Moneywave will take reasonable and practicable steps to ensure that the transferred Personal Data will be protected to a standard that is at least comparable to the protection under the PDPA 2010, including by implementing appropriate confidentiality and security obligations and safeguards with the relevant recipients or service providers.

10. User's rights to access and correction of personal data

10.1 Subject to any exceptions under the applicable laws, you may, at any time after Moneywave receives your Personal Data and allowing a reasonable processing period, request for access and make corrections to your Personal Data should you find that the said data appears to be inaccurate, incomplete, misleading or not up-to-date.

10.2 Upon receiving the said request, Moneywave shall promptly acknowledge receipt of such request and comply with such request not later than twenty-one (21) days from the date of receipt of the data access request. In exceptional circumstances, Moneywave may extend this period up to fourteen (14) days, provided with notifications to you of the reasons for such extension.

11. Miscellaneous

11.1 Notice

All communications to the User by Moneywave are deemed effective and binding upon delivery (or attempted delivery provided with proof) if such communications are made through the contact details (including email, phone number, registered address or in-platform telecommunications) provided by the User during sign up or as updated in the User's profile under the Terms and Conditions of Moneywave. Moneywave may also elect, at its discretion, to deliver notices via alternative methods such as postal mail, push notifications or electronic means through the Platforms (including by posting on the Website), depending on the nature of the communication, urgency or specific circumstances. For the avoidance of doubt, Moneywave bears no liability for non-receipt due to outdated or incorrect User-provided information.

11.2 Governing Laws

This Privacy Policy shall be governed by and construed in accordance with the laws of Malaysia. In the event of any dispute, the User agrees that the dispute shall be submitted to the exclusive jurisdiction of the courts of Malaysia.

11.3 Variations

This Privacy Policy may be changed, altered or amended by Moneywave at any time. Any such changes will be updated on the Platforms together with the revised version of the Privacy Policy. The revised Privacy Policy shall continue to apply to all information previously collected, as well as to any information that is stored or processed by Moneywave on an ongoing basis. Your continued use of the Platforms and/or the Services provided by Moneywave after such changes have been announced or published on the Platforms shall be deemed as your acceptance of the revised Privacy Policy. Accordingly, you are encouraged to review the Privacy Policy each time you access the Platforms to stay informed of any updates or changes.

11.4 Severability

If any clause in this Privacy Policy is determined to be void or unenforceable, the meaning of that clause must be interpreted to the fullest extent permitted by law in order to make it enforceable. If no such interpretation is possible, the clause's voidness or unenforceability shall not affect the other clauses in this Privacy Policy.

11.5 Language

In the event where this Privacy Policy is provided in other language other than the English language, the User hereby agrees that the English version of this Privacy Policy shall take precedence.

11.6 Conflicts

In the event where any of the provisions of this Privacy Policy contradicts with any other terms that appear elsewhere on the Platforms, this Privacy Policy, to the extent of such conflict, shall prevail.

12. Customer services

Moneywave values each and every customer and takes its commitments very seriously. Should you have any queries, requests (including for access and/or correction) or complaints to be made in relation to this Privacy Policy, you may contact Moneywave's Data Protection Officer at support@moneywaveonline.com and +60 12-203 4534.