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Privacy Policy

1. Introduction

We are Dennico Limited and trade as realrates.com ("RealRates"), and RealCheck. We know your personal information is valuable to you and we want to assure you that we take data protection very seriously, together with your privacy rights. It is important that you read and understand this policy which details how we collect and use your personal information when you use the RealRates or RealCheck service ("Our Services"). We are the data controller in relation to the personal information you provide us with, and we store this in a data centre in the EEA

Dennico Limited is based in Tattenhall, Cheshire. We are authorised and regulated by the Financial Conduct Authority (FRN 793530) as a credit broker and credit information services provider. Our registered office address is Suite 6, Century House, High Street, Tattenhall, Cheshire, CH3 9PX. Our registered company number is 11034439. We are registered with the Information Commissioner's Office number ZA312574.

Please note that this policy should be read in conjunction with our Terms and Conditions and is only relevant to Our Services. Should you click on a link which takes you to third party website, for example, one of our  financial service providers (“Providers”), you will need to read their privacy policy to understand how they are collecting and using your personal information. We are not responsible for this.

2. Our Services

To enable you to use Our Services you will need to provide us with your personal information to create an account ("Your Account") including; your title, name, and email address. You will be required to log into Your Account whenever you use Our Services> These include:

2.1 The RealCheck Service ("RealCheck")

RealCheck uses Open Banking so that you can see an aggregated view of your income and expenditure, better understand your Borrowing Power, and have access to a Financial Health Report. As a result, you can better understand your financial situation.

We do this as a result of our partnership with Consents.online Limited ("Consents.online") who are authorised by the Financial Conduct Authority as an Account Information Service Provider ("AISP") to provide Open Banking services (Reference number: 792642).

Open Banking is a UK initiative to give third party providers such as Consents.online access to consumers' financial accounts providing a consumer has requested and given consent for this to happen. Consents.online have appointed us as their agent and this is how we are able to provide the RealCheck Service. 

To enable us to provide the RealCheck Service:

  • We will share the personal information you provided when creating Your Account with Consents.online and transfer you to their website. Consents.online are a separate data controller when they receive this information and will use it after obtaining your explicit consent so that they can access your bank account(s). You can revoke this consent at any point. Consents.online will provide you with a copy of their privacy policy which will explain clearly how you can do this.
  • Your bank/building society will then verify your identity so that they can be certain you have securely shared your information with Consents.online and authorised them to have access to your account.
  • Once this verification is complete, your bank/building society will provide Consents.online with 13 months’ history of your banking transactions. Consents.online will share this with RealCheck,and will also categorise this information so you can see your regular monthly income and expenses. 
  • For a period of 90 days from when you first gave permission to Consents.online to access your bank account, you will be able to view a refreshed version of this information each time you log into Your Account. After this period, you will need to reauthenticate (ie give your consent again) via Consents.online with your bank/building society in order to keep Your Account up to date. We will refresh your financial information each month during the 90-day period that you have given permission for us to have access to your banking transactions.  

We use the information provided to us via Consent.online in the following ways:

  • To calculate your “Borrowing Power.” By this, we mean that we use the categorised transactional information to analyse your income and expenditure. This enables us to: calculate what you can afford to borrow; understand your regular spending habits, and work out how much money you could have left over at the end of each month if you were to take out a loan. 
  • To alert you if your Borrowing Power changes. We will store and refresh your categorised income and expenditure data for up to 90 days so that we can alert you if your Borrowing Power changes and enable you to retrieve this information if you log back into Your Account. If you don’t use Our Service for 90 days, you will be required to reauthenticate with your bank via Consents.online.
  • To generate your Financial Health Report. This provides you with positive, neutral, and negative factors which are based on your income and expenditure as well as a score out of ten.
  • To pre-populate any application form you may be required to complete to use Our Service. 
  • To remain in contact with you about Your Account and communicate any changes to your Borrowing Power and/or Financial Health Report to you.
  • To identify things you could do that may improve your Financial Health Report by assessing your banking transactions. For example, if we identify the score on your Financial Health Report is low, we may provide you with information about debt solution products either in Your Account, or (if you have consented) by email. If this is of interest, our debt management partner will be able to speak to you about your debt and give you information about their services. If you choose to speak with them, we will share your personal information with them so that they can assess whether they can help you. If they can, they will contact you to discuss the most suitable debt solution product for your needs. They will carry out an income and expenditure assessment, identification and validation checks (including fraud prevention procedures, affordability and credit checks) in accordance with their own criteria. 


2.2 The RealRates Service ("RealRates")

When you use RealRates, we will check your eligibility for a financial product or service from our panel of Providers to enable you to compare and establish which best suits your circumstances. 

To enable us to provide Our Service to you, you will need to have used RealCheck first and created Your Account. You will then need to provide us with additional personal information to enable us to check your eligibility. 

  • Depending upon the financial service or product you want to compare, your personal information will be used to generate a quote which will be saved to Your Account. We share the personal information you give us with the Providers on our panel who will process it to see whether they can provide you with the financial product or service you are looking for. For example, if you are enquiring about loans or car finance, our Providers will receive your personal information and will carry out a soft search together with any other checks they require to provide you with a quote. These checks will be detailed in their privacy policy
  • Our Providers are separate data controllers when they receive this information. They will process it:
    • To carry out loan eligibility assessments and soft searches (please see Section 10 for more information);
    • To assess your likelihood of acceptance for the financial service or product you are looking for, and
    • And provide you with your real rate of interest. 
  • If any of our Providers are able to help you, their offers will be presented to you so that you can compare them and choose the best match for you. If you proceed with one of these offers, you will be redirected to our Provider’s website to complete your application, and if you click through to their website, they may then contact you by email, post or phone.
  • If any of our Providers are unable to help, you may be presented with an alternative option to speak with a debt management partner as detailed above in our RealCheck Service.

Using the information you provided to us (for either RealCheck and/RealRates), we will stay in contact with you about your enquiry, and if you have given us your consent to do this, we will also send you details about any of our other products and services. You can withdraw your consent at any time by:

    • Clicking the unsubscribe link on any marketing email
    • Changing your marketing preferences in Your Account, and/or
    • Any of the ways in section 3.


3. Ways you can contact us

You can contact us at any time by using one of the methods listed below, if you wish to know more about how we use and store your personal information:

  • Contact Us Form
  • Complaints
  • By post to the following address

Dennico Limited, Suite 6, Century House, High Street, Tattenhall, Cheshire, CH3 9PX

4. How do we collect your personal information?

This is information specific to you such as, but not exclusively, your name, address, telephone number, date of birth, financial account information, online identifiers (i.e. IP address). 

We collect your personal information in the following ways:

  • when you complete an online form on one of our websites
  • when you contact us by email or any other means
  • via automated technologies such as Cookies. Please see our Cookie Policy for further details
  • technical data about your equipment, browsing actions and patterns

5. What personal information do we collect?

To enable us to provide Our Services, we need to collect the information as set out below. 

To create Your Account, we need to collect:

  • Identity information includes your first and last name
  • Contact information includes your email address
  • Marketing and communications information includes your preferences in receiving marketing information about our other products and services providing you have consented to this
  • Technical information includes your internet protocol (IP) address used to connect your computer (or device) to the internet; your browser; time zone setting; your operating system and platform; the source of your enquiry (for example Google, Facebook, Bing etc) and the device you are using. We also collect information about your visit to our website including the full Uniform Resource Locators (URL) clickstream to, through and from our website (including the date and time); page response times, download errors; length of visits to certain pages; page interaction information (such as scrolling; clicks and mouse-overs); methods used to browse away from the page, and, if you linked to our website from a search engine, the address of that search engine and the search term you used

For RealCheck we need to collect:

  • Financial information includes categorised transaction information and banking transactions from your bank/building society over the past 13 months and bank account number(s)

For RealRates we need to collect:

  • Identity information includes your date of birth
  • Contact information includes your address and telephone number
  • Employment information includes your employment status 
  • General information includes your residential status, your marital status, and the number of dependants you may have

6. How do we use your personal information?

6.1 Personalisation

We analyse and profile your personal information in order to customize Our Services, the information and offers that we present to you in Your Account and (providing you have consented) that we send to you by email. 

For example, we will use your personal information to:

  • Calculate your Borrowing Power (see section 6.2)
  • Carry out eligibility checks (see section 6.3)
  • Create your Financial Health Report
  • Determine the type of marketing we present to you and how, (for example on social media), and (providing you have consented), that we send to you about our other products and services 

6.2 Your Borrowing Power

When you use RealCheck, we ask you to connect your bank/building society account(s) to enable us to calculate your Borrowing Power. This is the amount you can afford to borrow and is based on your regular income and regular spending habits. We provide you with a calculator to estimate your monthly repayments based on a loan amount, loan term and interest rate. We also calculate how much money would you have left over after monthly repayments. 

We will recalculate your Borrowing Power at least once per month for up to 90 days and notify you of any changes. After 90 days we will ask you to re-authenticate via Consents.online so that you can continue to use Our Service. 

6.3 Eligibility Checking

RealRates is an eligibility checking service to help find you offers for loans. We sort these offers based on our 'best match' algorithm which considers several factors including the chance of approval and the rate being offered. If you choose to take out a loan via RealRates, the chosen lender will pay us commission, however, this does not influence the quotes that we present to you, nor the order in which they are ranked. 

To check your eligibility for a loan, we use automated technology to select those Providers who meet your requirements and criteria, for example, if we know a Provider does not offer loans greater than £5,000, we will not add them to the panel. We then share your personal information with the selected Providers who will carry out a soft search on you. Providers use your credit score and/or credit report data to help them decide whether they would accept your application for a loan. They will then notify us whether they will accept your application, the chance of approval and the real interest rate that they can offer you.

A soft search will leave a ‘footprint’ on your credit file which will either be in our name or the lender or broker who carried it out.  Only you will be able to see this, and it will not impact your credit score. 

6.4 Your Financial Health Report

When you use RealCheck, we ask you to connect your bank account(s) to enable us to calculate your Financial Health Report. This report scores your financial circumstances out of ten along with a list of factors that influence your score. These factors are split into positive, neutral and negative. For example, a positive factor can be that you make regular insurance payments, a negative factor can be that you recently incurred unarranged overdraft fees or failed payments due to insufficient funds in your bank account.

We will recalculate your Financial Health Report at least once per month for up to 90 days and notify you of changes by email and in Your Account. 

6.5 Staying in contact

6.5.1 Service messages

The following communications are an essential part of creating Your Account and cannot be opted-out of:

  • We will send you a welcome email when you first create Your Account and email you if you have yet to connect your bank account(s) 
  • We will email you at least once per month when we've generated your Financial Health Report and/or Borrowing Power and notify you of any changes until your 90-day bank authentication period expires or you notify us to close your account
  • We will email you if we update our terms and conditions and/or privacy policy and to notify you of any changes
  • We will email you reminders when your 90-day authentication period with your bank/building society account(s) is about to expire, requesting that you reauthenticate so that you can continue to benefit from Our Services
  • we will email you a copy of any quotes you have generated through RealRates,  along with expiry reminders, for example, if you have generated a quote for a loan, we will email you a copy of your results

6.6.2 Marketing

When you create Your Account and log in, you will be asked whether you would like to receive marketing emails from us. You can unsubscribe from marketing emails at any time by;

  • Changing the marketing preferences within Your Account
  • Clicking the unsubscribe link at the bottom of any marketing email we send to you
  • Any of the ways in section 3.

We will only contact you in response to a request, or communication from you or if you have consented to receive marketing from us. When you create Your Account you will be presented with this option. You can update your marketing preferences at any time in Your Account. 

Third-party marketing: we will not share your personal information with any other company for their marketing purposes. 

6.7. Correspondence, surveys, competitions and prize draws

If you contact us using our contact form, we’ll keep a record of that correspondence.

We may contact you occasionally to see if you would like to take part in a survey, competition or prize draw. If we do this, we will only use any personal information you provide in response in accordance with this privacy policy.

We take your feedback very seriously and use surveys to help us improve our services.

6.8. Website analytics

We use technical information to measure and analyse traffic to our website. It allows us to analyse the behaviour and trends to help us further improve our services and our customers’ experience.

This is statistical information about our users’ browsing actions and patterns and does not identify anyone.

6.9. To meet legal or regulatory requirements

We may process your personal information without your knowledge or consent, in compliance with data protection legislation, where this is required or permitted by law. 

6.11. Research and development

We are constantly looking to improve Our Services for our customers by analysing data. For example, we may use your personal information alongside your financial information and behavioural data to spot trends and identify new features or products that would be of interest or helpful to our customers. 

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7. Our legal bases for processing your personal information

To help you understand the ways in which we will use your personal information, and which of the legal bases we are relying upon to do this, we have detailed the following uses. Note that we may process your personal information for more than one lawful ground depending on the specific purpose for which we are using your information.

Purpose/Activity

Type of information

Lawful basis for processing including basis of legitimate interest

To identify you and to create Your Account

(a) Identity 

(b) Contact


Performance of a contract with you

To share your personal information with Consents.online to enable them to access your bank account and provide us with your categorised and transactional banking data so that we can give you an indication of your Borrowing Power and create your Financial Health Report 

(a) Identity 

(b) Contact


Necessary for our legitimate interests to enable you to use RealCheck to calculate your income and expenditure, display your Borrowing Power and create your Financial Health Report 

To calculate and update your Borrowing Power and your Financial Health Report at regular intervals and communicate this to you

(a) Identity 

(b) Financial

(c) Contact


Performance of a contract with you

To find personalised offers for you and ways that could help you improve your Borrowing Power and Financial Health Report. These results will be presented to you in Your Account and (if you have consented) also sent to you by email.

(a) Identity 

(b) Financial

(c) marketing and communications

(d) Contact

Performance of a contract with you

Consent

To pre-populate any application form you may be required to complete to use Our Service. 

(a) Identity

(b) financial 

(c) contact

(d) employment

Necessary for our legitimate interests to improve the service we prove to you and ensure your personal information is accurate and up to date

To enable us to provide Our Services and share your personal information   with our Providers to help you find the product or service you are looking for and communicate these to you 

(a) Identity

(b) Contact 

(c) Financial

(d) employment

Necessary for our legitimate interests to enable you to use Our Services

To enable us to communicate with you:


  • by sending you servicing communications. (These will include for example information regarding changes to your Borrowing Power and/or Financial Health Report)


  • By sending you any marketing communications


  • About any enquiries or complaints, you may have.


  • To ask you to complete a survey,enable you to take part in a prize draw or competition, or provide us with feedback, testimonials or reviews


  • About changes to our terms or privacy policy

(a) Identity 

(b) Contact

(c) Marketing and communications information

(a) Performance of a contract with you

(b) Necessary for our legitimate interests (to operate our business in providing and improving Our Services) by remaining in contact with you about your enquiry.

(c) Necessary to comply with legal obligations

(d) Consent

To assess your eligibility through RealRates for a product or service.For example, if you are looking to compare loan products from our Providers, you will be able to see what your likelihood of acceptance is.  If, for some reason none of our Providers are able to offer you a loan you may be presented with an alternative option to continue your search with one of our credit broking partners on the basis of a Representative APR rather than a real rate of interest

(a) Identity 

(b) Contact

(c) Financial 

(d) Employment 

(e) General

(f) Marketing and communications information

Necessary for our legitimate interests (to operate our business in providing and improving the RealRates service). Our Providers need this information to deliver either a real rate of interest or a Representative APR where a real rate is not available. 

To enable us to present advertisements to you about Our Services and send you information about our other products and services. We may use your personal information to create a profile of you and your circumstances. These advertisements may be sent directly from us (if you have agreed to receive marketing communications from us), be presented to you in Your Account or via advertising networks and social media companies such as Facebook, Twitter, Google and YouTube.


We believe we have a legitimate interest to profile your personal information in this way. However, you have the right to object if you do not want us to do this. In this case, please contact us to inform us that you do not want your personal information to be used in this way

(a) Identity

(b) Contact

(c) Marketing and communications information

(d) Technical information

(a) Necessary for our legitimate interests to provide you with advertisements relating to Our Services and other products and services via advertising networks such as TV, radio, out-of-home advertising, digital advertising networks and social media companies.

(b) Consent

To administer, improve and protect our business and this website (including training, troubleshooting, data analysis, testing, system maintenance, research, support, reporting and hosting of data).

(a) Technical

Necessary for our legitimate interests (to define types of customers for our products and services, to keep our websites, updated and relevant, to develop our business and to improve our marketing strategy).


8. Who do we share your personal information with?

RealCheck Service

When you use this service, your personal information will be shared with the following third parties:

  • Our partner, Consents.online so that, (with your consent), they can access your bank/building society account(s)  and provide us with transactional information to enable us to analyse your income and expenditure and provide you with the RealCheck Service described  in section 2.  You can read Consents.online’s privacy policy here
  • Our Providers to enable you to compare or find out more information about financial and other types of services including loans and debt solution products 
  • Other companies who enable us to provide the RealCheck service or who provide services to us, for example IT Service Providers (who provide for e.g. technology platforms or other IT services including data storage), and communication providers (who provide for e.g. email and text services for customer contact and marketing purposes)
  • Advertising networks and social media companies such as Facebook, Twitter, Google and YouTube so that we can present you with relevant advertisements

RealRates Service

When you use this service, your information will be shared with the following third parties:

  • Our Providers to help you find the financial product or service you are looking for
  • Other companies who enable us to provide the RealRates service or who provide services to us, for example IT Service Providers (who provide for e.g. technology platforms or other IT services including data storage), and communication providers (who provide for e.g. email and text services for customer contact and marketing purposes)
  • Advertising networks and social media companies such as Facebook, Twitter, Google and YouTube so that we can present you with relevant advertisements 


These third parties help us to provide Our Services. In order that they can do this, we may need to let them process your personal information. We will make sure that they keep the information secure and in accordance with our instructions, the General Data Protection Regulation 2016 ("GDPR") and other UK privacy legislation. 

We’ll also share your personal information when we have your consent, or where we are obliged to do so for a legal or regulatory reason, for e.g. to prevent or detect crime, for compliance monitoring or to enforce or apply our Terms & Conditions and other agreements.

Finally, we may also share your personal information with any third parties to whom we may choose to sell, transfer, or merge parts of our business or our assets. Alternatively, we may seek to acquire other businesses or merge with them. If a change happens to our business, then the new owners may use your personal information in the same way as set out in this privacy policy.

9. How long will we keep your personal information?

Unless we are required by law to keep your personal information for a different period of time, (in the case of Our Services), we will keep it for no longer than 2 years from the date you last logged into Your Account, or alternatively until you ask us to delete it. 

Please note that if you ask us to delete your personal information it may remain on our backup systems for legal or other regulatory reasons. 

10. Automated Decision Making

An automated decision is made by a computer or system to evaluate certain personal aspects relating to an individual to make a decision. We do not make automated decisions about you; however, our Providers may do this when we share your personal information with them so that they can make an assessment of your eligibility for your loan product.

(Note: a 'soft search' is a search conducted by a lender with a credit reference agency such as Experian, Equifax or TransUnion. This helps the lender to determine whether or not they are able to provide the product or service. Unlike a 'hard' credit search, a soft search is recorded on your credit file but only you can see it, rather than any other finance provider. A 'soft search' does not impact your credit rating. 

As a result, you have the right to ask our Providers that they do not make a final decision based solely on automated means. You can also object to the automated decision and ask that a person reviews it. To exercise this right, you will need to contact the Provider directly. 

11. Is your personal information transferred outside the European Economic Area ("EAA")?

Although we do not routinely transfer personal information outside the EEA, we may sometimes need to do this where any of our Providers or third-party suppliers are either based outside the EEA, or where they use data processors based outside the EEA.  Where this is the case, we’ll make sure that they agree to: keep your personal information secure; apply the same levels of protection as we are required to apply to information held in the EEA and to use it only for the purpose of providing Our Services. We’ll do this by putting in place appropriate safeguards and protections as stated under UK law, for example using a data-transfer agreement incorporating certain standard model protection clauses.

12. Data security

We have put in place appropriate security measures to prevent your personal information from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed.  In addition, we limit access to your personal information to those employees, agents, contractors and other third parties who have a business need to know. They will only process your personal information on our instructions, and they are subject to a duty of confidentiality. 

We have procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.

13. Cookies

We have implemented and use Google Display Network (GDN) Impression Reporting, Demographics and Interest Reporting, Remarketing with Analytics and Segments.

We use these services to help us improve our site and our advertising, including who sees the adverts and the content within them.  We and other third parties, such as Google, use first party and third-party cookies to help us show relevant adverts to you. Due to these cookies, you may see adverts on other websites promoting RealRates.  More information about cookies and how they are used can be found in our cookie policy.

Whilst we cannot control adverts you may see on other websites, you are free to opt-out of or change your settings regarding ad personalisation at any time, by going to your Google Ads Preferences Manager.

14. Your legal rights

  • Right to Object - because you have asked us to help you find a financial product or service, we need to process the personal information you give us to enable us to find the best product or service available amongst our Providers. You can object to this processing (including any profiling and/or direct marketing that we carry out) at any time by contacting us as detailed in Ways to contact us in section 3.   We will action any request you make promptly, although this will mean that we will not be able to help you find the financial product or service that you asked us to search for
  • Right of Access – you can ask us whether we hold your personal information and if so you can access it by contacting us as detailed in section 3
  • Right to Erasure – if it is no longer necessary for us to hold your personal information, bearing in mind the reason why you provided it to us, you can ask us to delete it. If you ask us to do this, we’ll complete your request as soon as possible although this will mean that we will not be able to help you find the financial product or service that you asked us to search for
  • Right to Rectification - if we hold inaccurate personal information, you can ask us to correct it and we’ll action your request promptly
  • Right to restrict our use of your information - you can ask us to restrict our processing of your personal information if you think, for example, that the personal information you gave us is inaccurate
  • Right to complain to the Information Commissioner’s Office (ICO) – we’ll try to resolve any complaint that you may have in relation to data protection issues. If you are not happy with our final response you have the right to have your complaint dealt with by the ICO. See section 15 - “Complaints and contact details of our data protection officer.”

15. Complaints and contact details for our data protection officer

We want you to be confident that we are handling your personal information responsibly and in line with good practice. If you are concerned that we are not doing this, you should contact us immediately. We will treat your concern seriously and work with you to try and resolve it.

Please address your correspondence to:

The Data Protection Officer

Dennico Limited, 

Suite 6, 

Century House, 

High Street, 

Tattenhall, 

Cheshire, 

CH3 9PX

16. Changes to this policy

Any changes we may make to our privacy policy in the future will be posted on this page. When a change is made, we will present the updated policy at the point in which you log into your account where you will be asked to agree to our updated policies. 

However, if any significant change that we make affects the way that we are able to use your personal information (meaning that it would be unlawful for us to continue to use it), then we will do our best to communicate this to you.

Last updated May 2020