For Users With UAE Bank Data
This addendum applies when you upload statements from a UAE bank. Direct UAE bank connections are coming soon; the connection-specific sections below apply once they launch. It explains additional data handling requirements specific to UAE regulations.
UAE Personal Data Protection Law (PDPL)
We comply with UAE Federal Decree-Law No. 45 of 2021 regarding the Protection of Personal Data. This includes:
Lawful Basis for Processing
| Data Type | Lawful Basis |
|---|---|
| Account & profile data | Contract performance |
| Transaction data | Contract performance |
| Analytics & insights | Legitimate interest |
| AML retention | Legal obligation |
Your Rights Under UAE PDPL
- Right to Access: Request a copy of your data
- Right to Rectification: Correct inaccurate data
- Right to Erasure: Delete your data (subject to retention requirements)
- Right to Data Portability: Export your data
- Right to Withdraw Consent: Revoke consent at any time
- Right to Object: Object to certain processing activities
5-Year Data Retention (AML Requirement)
Important Legal Requirement
UAE Anti-Money Laundering regulations require financial service providers to retain transaction records for 5 years. This will apply to transaction data imported through direct UAE bank connections once they launch. It does not apply to statements you upload.
What This Means For You
Once direct UAE bank connections launch, if you delete your Wealthi AI account after using one:
Deleted Immediately
- Your profile and account
- Bank connections
- Account balances
- Non-UAE transactions
- Assets and liabilities
- Budgets and preferences
- Chat history
Retained for 5 Years
- UAE bank transactions (anonymized)
- Transaction amounts
- Transaction dates
- Merchant information
- Transaction descriptions
How We Anonymize Retained Data
When you delete your account, UAE transaction data is anonymized:
- Your user ID is replaced with a one-way cryptographic hash
- Your email and personal details are removed
- Only transaction data required for AML compliance is kept
- A secure mapping is stored separately for regulatory requests only
After 5 years from the date of account deletion, all retained data is permanently deleted.
How UAE Bank Data Reaches Wealthi AI
Today, UAE bank data comes only from PDF statements you choose to upload. Wealthi AI never asks for your UAE bank login. Direct UAE bank connections are coming soon, and this addendum will be updated before they launch.
How Statement Upload Works
- You download a PDF statement from your bank and upload it to Wealthi AI
- The statement is read by Google's Gemini AI model to extract the transactions
- Extracted transactions are categorized and added to your account
- You can delete uploaded statements and their transactions at any time
UAE Data Processing Consent
When direct UAE bank connections launch, connecting a UAE bank account will ask for explicit consent for:
- Collection and processing of your UAE bank transaction data
- 5-year retention of anonymized transaction data for AML compliance
- Use of data for personal financial insights
You will be able to withdraw consent at any time by disconnecting your UAE bank account. However, note that previously collected data may still be subject to the 5-year AML retention requirement.
Questions?
For questions about UAE data handling, contact our Data Protection team at [email protected]