GLBA Privacy Notice
FACTS: What Does Scope Do With Your Personal Financial Information?
Why?
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?
The types of personal information we collect and share depend on the product or service you have with us. This information can include:
- Social Security number and government-issued ID information
- Account balances, transaction history, and savings goal information
- Bank account numbers and routing numbers
- Payment history and savings behavior patterns
How?
All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information, the reasons Scope chooses to share, and whether you can limit this sharing.
| Reasons we can share your personal information | Does Scope share? | Can you limit? |
|---|---|---|
| For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
| For our marketing purposes — to offer our products and services to you | Yes | No |
| For joint marketing with other financial companies | No | We don't share |
| For our affiliates' everyday business purposes — information about your transactions and experiences | No | We don't share |
| For our affiliates' everyday business purposes — information about your creditworthiness | No | We don't share |
| For our affiliates to market to you | No | We don't share |
| For nonaffiliates to market to you | No | We don't share |
Questions?
Contact us at customersupport@scopesave.com or visit www.scopesave.com.
Who We Are
Who is providing this notice? Scope Save, Inc. ("Scope"), a Delaware C-Corporation, is providing this notice on behalf of itself. Scope is a technology company that provides a prepaid savings service. Banking services, including the custody of user funds, are provided by our FDIC-insured sponsor bank partner(s).
What We Do
How does Scope protect my personal information?
To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include encryption of data in transit and at rest (via Google Cloud KMS), secure authentication and access controls, behavior-based fraud detection systems, and regular monitoring for unauthorized access. We limit access to your personal information to those employees, contractors, and service providers who need it to provide our Services.
How does Scope collect my personal information?
We collect your personal information when you:
- Open an account or set up savings goals
- Link your bank account through Plaid
- Make deposits or request withdrawals
- Use our mobile application
- Complete identity verification (KYC)
We also collect your personal information from third parties, including identity verification services (Plaid), our banking partner(s), and public databases.
Why can't I limit all sharing?
Federal law gives you the right to limit only: sharing for affiliates' everyday business purposes (information about your creditworthiness), affiliates from using your information to market to you, and sharing for nonaffiliates to market to you. State laws and individual companies may give you additional rights to limit sharing.
Definitions
Affiliates: Companies related by common ownership or control. They can be financial and nonfinancial companies. Scope does not currently have any affiliates.
Nonaffiliates: Companies not related by common ownership or control. They can be financial and nonfinancial companies. Scope does not share with nonaffiliates so they can market to you.
Joint Marketing: A formal agreement between nonaffiliated financial companies that together market financial products or services to you. Scope does not engage in joint marketing.
Other Important Information
Sponsor Bank Partnership
Scope partners with an FDIC-insured sponsor bank to hold user funds in pooled For Benefit Of (FBO) accounts. Our banking partner may separately provide you with its own GLBA privacy notice. This notice covers only the information practices of Scope Save, Inc.
State Laws
We comply with applicable state laws that provide additional privacy protections. For example, California residents' information will not be shared with nonaffiliates except as permitted by California law. Vermont residents' information will not be shared with nonaffiliates except as permitted by Vermont law.
Updates to This Notice
We may update this notice from time to time. When we do, we will post the updated notice on our website and in our mobile application. The "Last Updated" date at the top shows when it was last revised.
Banking services are provided by our FDIC-insured sponsor bank partner(s), Members FDIC.
This notice is provided pursuant to the Gramm-Leach-Bliley Act (GLBA) and its implementing regulations (Regulation P).