Compliance and Licenses

Upholding standards that are regulated

Building trust in a secure environment

At DA5, compliance and adherence to industry regulations are of paramount importance. Our Compliance and Licenses section outlines our commitment to maintaining the highest ethical standards and meeting legal and regulated requirements. Learn about our certifications, licenses, and compliance programs that ensure we operate responsibly, protect data privacy, and maintain the trust of our consumers and partners. Rest assured that we take compliance seriously to build a secure and trustworthy business environment in remittance and fintech. 

The Remittance Agent License is issued by the BSP. It allows entities or individuals in the Philippines to work as intermediaries for licensed remittance service providers. With this license, they can offer remittance services on behalf of the provider, ensuring compliance with regulations and facilitating the collection and forwarding of remittances. To obtain this license, specific criteria and compliance with BSP guidelines are required. It plays a crucial role in operating within the regulatory framework and protecting customers’ interests. For accurate information on obtaining the Remittance Agent License, it is advisable to consult the BSP or seek professional advice.

The FX license is issued by the BSP to entities involved in foreign exchange transactions. It allows them to provide foreign exchange services to customers by buying, selling, or exchanging foreign currencies.

The EMI license is granted by the BSP to companies that want to issue electronic money or operate e-wallets. It enables them to offer digital payment services like electronic transfers, payments, and storing electronic value.

The VASP license is a new license introduced by the BSP to regulate entities involved in virtual asset activities. This includes virtual currency exchanges, digital wallet providers, and other platforms facilitating virtual asset transactions. It ensures compliance with anti-money laundering and counter-terrorism financing regulations.

The EPFS license allows entities to offer payment services other than e-money issuance. This can include remittances, bill payments, and merchant acquiring. It permits the licensee to provide non-traditional payment services using electronic products and technologies.

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Privacy Policy
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Direct Agent 5, Inc. (DA5) is a Fintech company that provides money transfer and payment services to its consumers. At DA5, your trust, confidence and the integrity, confidentiality and security of your information are highly important to us, thus, we are committed to protecting your privacy.

As a regulated entity, we are bound by the rules and regulations of Data Privacy Act of 2012, AMLC and BSP rules and regulations.

Why do we collect personal information?
This Privacy Notice for DA5. describes how and why we might collect, store,use, and/or share your information when you use our products, services, such as when you:

  • Download DA5 apps, use products and services or any other application of ours that links to this privacy notice
  • Engage with us in other related ways, including any marketing or events
  • Comply with laws and regulations governing our products and services

What personal information do we collect?
To process general concerns/inquiries about DA5 services and transactions covered by Anti-Money Laundering Law Act of 2001 and relevant BSP rules and regulations we process the information provided, but not exclusive to the following:

  • Name
  • Present address
  • Date and place of birth
  • Nature of work, name of employer or nature of self-employment/business
  • Contact details
  • Specimen signature
  • Source of funds
  • Permanent address
  • Nationality
  • Identification Cards
  • Name, present address, date and place of birth, nature of work and source of funds of beneficial owner or beneficiary, whenever applicable

As a condition for the use of our products and services, you are consenting to the Privacy Policy of Direct Agent 5, Inc. and the collection, use, access, transfer, storage and processing of your personal information as described in this Privacy Policy. In collecting Personal Information, we always abide by the applicable laws and regulations.

What are your responsibilities as a data subject?
You should ensure that personal data submitted to DA5 is complete and accurate. Failure on your part to do so may result in our inability to provide you with products and services you have requested.

You should inform DA5 immediately of any change of facts which may render personal data previously provided incorrect and provide any supporting documentation DA5 may reasonably require for the purposes of verifying the accuracy of the personal data. We advise you to exercise caution in protecting yourself against phishing, skimming and other electronic fraud.

What are your rights as a data subject?
You are afforded certain rights in relation to your personal data under the Data Privacy Act of 2012, which includes the following:

  • To be informed– as a data subject, you have the right to be informed that your personal data will be, are being, or were, collected and processed.
  • To access– you have a right to obtain a copy of any information relating to you that we have on our computer databases.
  • To object– unless required by law, rules and other regulations, you have a right to object to the processing of your personal data.
  • To erasure or blocking– you have the right to suspend, withdraw or order the blocking, removal or destruction of your personal data.
  • To be indemnified of damages– you may claim compensation if you suffered damages due to inaccurate, incomplete, unlawfully obtained or unauthorized use of personal data.
  • To rectify– you have the right to dispute and have corrected any inaccuracy or error in the data we hold about you.
  • To file a complaint– If you feel that your personal information has been misused, maliciously disclosed, or improperly disposed, or that any of your data privacy rights have been violated, you may file a complaint or any concern with our Data Protection Officer.

How we protect your personal information?
DA5 does not, will not, sell personal data to any third party. All our engagements with third parties shall be fully-compliant with our obligation of confidentiality imposed on us relevant applicable laws.

How long do we keep your personal information?
Your personal information shall be retained in accordance with the relevant laws and regulations, particularly DPA, AMLC and BSP rules and regulations, and such other purposes that you may have consented to from time to time, remains in effect and until such time as it is no longer required nor necessary to keep your information for any other legal, regulatory or business purposes.

In general, DA5 shall only retain your data for five (5) years after the processing relevant to its purpose. However, DA5 may retain your data when necessary to establish, exercise or defend legal claim, or when provided by law.

How to contact us?
For any queries, clarifications on this Privacy Policy, the exercise of your rights pertaining to your personal information, please email us at: info@da5.com.ph or dataprotection1@da5.com.ph or contact +6328958195.

We may modify or amend this Privacy Policy from time to time to keep up with any changes in relevant laws and regulations applicable to us or how we collect, use, protect, store, share or dispose of your personal information. Any relevant updates will be posted on the DA5 website.

Last updated July 2023