Privacy Policy

This privacy statement explains how Icarus Wealth Limited (we, us) collects and uses your personal information.

We collect personal information from you, including information about your:

  • Name
  • Contact information
  • Identity information and documents
  • Bank account details (account name and number) and payment details (amount, reference and status), when you fund your wallet by bank payment

We collect your personal information in order to:

  • Comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009
  • Process payments from your bank account to fund your wallet, and confirm and record those payments
  • Provide our investment service, including verifying your identity, holding and settling your investments, and meeting Indian regulatory requirements

Besides our staff, we share this information with:

  • Inland Revenue Department, to comply with the Income Tax Act 2007
  • Akahu, New Zealand’s open finance platform, which we use to start payments from your bank account. Akahu receives the details needed to start the payment and tells us the payment status. Akahu looks after your information in line with its own privacy policy
  • Your bank, which receives the payment instruction and processes the payment
  • Aply ID, which verifies your identity for us
  • Axis Bank in India, which provides custody and clearing services for your investments
  • The Securities and Exchange Board of India (SEBI), the Indian regulator, where required by Indian law

We use Akahu for one-off payments only. You approve each payment with your bank. We do not get ongoing access to your bank account, and we cannot make further payments from it without your approval.

We need your identity information and documents to open your account, because we are required to verify your identity under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. If you do not provide them, we cannot open your account.

We keep your information safe by storing it in encrypted files and only allow certain staff to access it.

We keep your information for five years, at which point we securely destroy it by securely deleting all digital information.

You have the right to ask for a copy of any personal information we hold about you, and to ask for it to be corrected if you think it is wrong.

To ask for a copy of your information, or to have it corrected, please contact us at:

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