Closing Your Luminary Account

How to Close Your Account

You can close your Luminary account in two ways:

  1. Through the app or web banking:
    • Go to Hub > Profile > Settings
    • Ensure you’re logged in to the correct account
    • Click “Deactivate account”
  2. By email:

Important Information About Closing Your Account

  • Closing your account does not release you from any liability related to your balance (including negative balances, disputes, etc.).
  • Accounts with a negative balance cannot be closed.
  • Once closed, you will no longer be able to process refunds or issue payments.
  • Any remaining balance will be transferred to a bank account in your name.
  • Closing one Luminary account will not automatically close your other accounts—you must close each one individually.

Information We Collect and Hold

Information You Provide Through the App

  • Application details (name, surname, address, contact information, date/place of birth, tax residency, ID documents, source of income)
  • Onboarding materials (short video + selfie)
  • Login credentials and settings
  • In-app communication
  • Survey responses

Information Collected When You Contact Us

  • By phone: number used and information given during the call
  • By email: your email address, message content, and attachments
  • By social media: public profile details and your messages/posts

Information Collected From App Usage

  • Details of payments to/from your Luminary account
  • How you use the app
  • Tax residency information and Tax Identification Numbers

Information Collected From Your Device

  • Mobile network and operating system
  • IP address and device ID (linked to your phone number for security)

Information From External Sources

  • Fraud prevention agencies and KYC/AML service providers
  • Public sources (e.g., Companies House, press, social media)

Legal Basis for Processing Data

We process your data under the following legal bases:

  • Contractual/legal obligations:
    To assess applications, provide services, send account-related messages, exercise contractual rights, and resolve issues.
  • Compliance with law:
    To verify identity, prevent illegal activities (fraud, money laundering, tax evasion), and comply with regulatory requirements.
  • Legitimate interests:
    To market useful products/services, provide reports, analyse and improve services, ensure security, and manage business risk.
  • Consent:
    We’ll ask your permission before sharing data with certain third parties (e.g., banks for account switching, your authorised representatives).

Who We Share Data With

  • Banks: for account switching, aggregation services, and tracing money in fraud/disputes
  • Law enforcement/regulators: when required by law
  • Courts/dispute resolution bodies: if legally necessary
  • Corporate transactions: in the event of mergers, acquisitions, or restructures

Data Retention

We hold personal data for no longer than necessary, generally up to 6 years after a business relationship is established, unless law requires longer (e.g., AML compliance, legal claims).

Your Rights

You have the right to:

  • Access your personal data
  • Request a copy in portable format or transfer to another party
  • Correct inaccurate data
  • Request deletion or suppression (subject to legal requirements)
  • Object to direct marketing and some legitimate interest uses
  • Withdraw consent at any time
  • Request a human review of automated decisions

📩 To exercise your rights, email: support@luminary.inc.
We will respond within one month as required by European data protection laws.

International Transfers

We may transfer/store data outside the EEA. We ensure protection by:

  • Using countries/organisations approved by the European Commission, or
  • Applying Standard Contractual Clauses approved by the Commission.

How We Protect Your Data

We comply with data protection laws by:

  • Keeping data accurate and up-to-date
  • Secure storage and disposal
  • Limiting data collection/retention
  • Protecting against loss, misuse, or unauthorised access with technical and organisational measures

Complaints

If you have concerns about how we use your personal data:

  • Contact us: support@luminary.inc
  • If unresolved, you can complain to your local Data Protection Authority.

UK customers:
Information Commissioner’s Office (ICO)
Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF, UK
Helpline: 0303 123 1113
Website: www.ico.org.uk

Changes to This Policy

We may update this policy. Updates will be posted here. If significant changes are made, we’ll notify you by email.

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