How to Protect Your Privacy and Banking Data in Digital Banking

Are you concerned about the security of your online banking data? Find out how BBVA complies with the GDPR in Europe to protect your privacy, learn your rights, and how to configure your preferences to keep your personal information safe.

In the digital age, protecting our personal data has become a priority, especially when it comes to information as sensitive as financial information. If you are a BBVA customer in Europe, it's essential that you understand how the bank protects your privacy under the European Union's General Data Protection Regulation (GDPR) and what steps you can take to strengthen your online banking security.

What is GDPR and how does it affect you as a BBVA customer?

The General Data Protection Regulation (GDPR) is a European regulation that came into force in 2018 with the aim of strengthening and unifying the protection of individuals' personal data within the European Union (EU) and the European Economic Area (EEA).

For you, as a BBVA customer in an EU country, this means:

Greater Control Over Your Data: You have more power to decide how your personal information is collected, used, and shared.
Greater Transparency: Companies, including BBVA, must be clear about what data of yours they handle and for what purposes.
Enhanced Security: Stricter security measures are required to protect your data from unauthorized access, loss, or leaks.

BBVA's Commitment to GDPR: How Does It Protect Your Data?

BBVA, as an entity operating in Europe, is legally required to comply with the GDPR. This entails a series of internal measures and policies:

Explicit Consent: To process your data for specific purposes (such as personalized commercial offers), BBVA requires your clear and affirmative consent. Implied consent is not valid.
Data Minimization: Only the data strictly necessary to provide the contracted service or to comply with legal obligations should be collected and processed.
Data Security: Implementation of robust technical and organizational measures to ensure the confidentiality, integrity, and availability of your information (encryption, firewalls, access controls, etc.).
Data Protection Officer (DPO): BBVA has a DPO, a figure responsible for overseeing GDPR compliance within the organization and being the point of contact.

for authorities and customers on privacy matters.

Impact Assessments: Before implementing new data processing operations that may pose a significant risk to users' rights and freedoms, data protection impact assessments are conducted.

Your Rights as a User Under the GDPR (Know Them!):

The GDPR grants you a series of fundamental rights over your personal data that you can exercise with BBVA:

Right of Access: You can request BBVA to know what personal data they hold about you, how they are processing it, and obtain a copy of it.
Right to Rectification: If your data is incorrect or incomplete, you can request that it be corrected.
Right to Erasure (To Be Forgotten): You can request that your personal data be deleted when it is no longer necessary for the purposes for which it was collected, or if you have withdrawn your consent, etc. (with certain legal limitations).
Right to Restrict Processing: You can request that the use of your data be restricted in certain circumstances.
Right to Data Portability: You have the right to receive the personal data you have provided to BBVA in a structured, commonly used, and machine-readable format, and to transmit it to another controller.
Right to Object: You can object to your data being processed for certain purposes, such as direct marketing.

"The GDPR empowers you. Knowing your rights is the first step to exercising real control over your privacy in online banking."

Configuring your Privacy in the BBVA App and Website:

BBVA offers tools in its online banking and mobile app so you can manage your privacy preferences and marketing communications.

Review your Privacy Settings: Take some time to explore the "Settings," "Profile," or "Privacy" sections in your personal area of the BBVA website or app.
Manage Consents: Here you can view and modify the consents you have given for the use of your data for marketing purposes, profiling, etc.
Commercial Communications: Decide whether you want to receive (and through which channels) offers and advertising from BBVA.

Additional Tips to Keep Your Personal Information Safe:

In addition to BBVA's measures and your GDPR rights, your proactivity is key:

* Strong and Unique Passwords: Use complex and different passwords for your online banking and other services. Consider a password manager. Two-Factor Authentication (2FA): Activate it whenever available. BBVA uses it for sensitive transactions. Beware of Phishing: Don't click on suspicious links or provide your passwords in response to unsolicited emails or SMS. BBVA will never ask for your full passwords through these means. Always access your account by typing the official address into your browser or from the official app. Secure Wi-Fi Networks: Avoid accessing your online banking from unsecured public Wi-Fi networks. Keep Your Devices Updated: Make sure your operating system and antivirus are up to date. Review Your Transactions Regularly: Detect any suspicious activity on your accounts as soon as possible.

Conclusion:

Data protection and privacy are fundamental pillars of your relationship with your bank. BBVA, in compliance with the GDPR, has implemented significant measures to safeguard your information in the European digital environment. However, security is a shared responsibility. By knowing your rights, properly configuring your preferences, and following good online security practices, you can navigate digital banking with greater confidence and control over your personal information.

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