Privacy Policy


Effective as of July 17, 2023

Download/View a PDF copy of our Privacy Notice

Protecting your Privacy

This Online Privacy Policy (“Online Policy”) applies to Merchants Bank, its parent company Merchants Bancorp, and all subsidiaries and affiliates (referred to as “Merchants Bank,” “we,” or “us”). It pertains to this website and any other online interfaces, mobile sites, or mobile applications associated with Merchants Bank that link to this Online Policy (each referred to as a “Site,” and collectively as “Sites”). This Online Policy governs Merchants Bank’s practices concerning the collection, usage, and disclosure of information obtained from visitors while using the Sites, including transactions and the utilization of tracking technologies like cookies or action tags. All Sites, including this one, are operated and controlled within the United States of America. It is important to read this Online Policy in conjunction with the “What Does Merchants Bank Do with Your Personal Information” Privacy Notice (“Privacy Notice”), which outlines how we may share the personal information we gather from you and provides instructions on how you can opt-out or restrict certain types of information sharing.

Modifications to this Online Policy

Merchants Bank reserves the right to modify this Online Privacy Policy at any time in response to future developments within our organization, changes in industry practices, or evolving legal matters. The “Effective Date” published above will reflect the most recent modifications. These changes will take effect upon the posting of the updated Online Policy on this website. By continuing to utilize the Site after such changes, you are considered to have accepted the revised terms. If you do not agree with the terms of this Online Policy, either in whole or in part, as it may be amended from time to time, we kindly request that you refrain from using our Sites. If you have any inquiries or feedback regarding this Online Policy or wish to update your personal information provided to us, please make that request in writing to Merchants Bank, Attention: Privacy Officer, 410 Monon Blvd, Carmel, IN 46032. Please provide a concise communication with complete information, including your contact information.

Information We Collect

Merchants Bank collects both Personal Information and Aggregate Information from visitors and users of our Sites. Personal information is referred to as any data that can be used to identify a particular individual. This may include details such as your name, address, email address, phone number, mother's maiden name, Social Security number, date of birth, driver's license, employment information, income, residence details, and collateral information. For instance, you might provide personal information when filling out an online application for a new banking product, enrolling in our online or mobile banking services, or completing online forms with your contact information.

The personal information we collect may undergo a process of aggregation and/or de-identification, where we remove any details that can personally identify you. This aggregated information may be shared with third-party providers. The purpose of sharing this data is to enhance the delivery of products, services, and content that are specifically tailored to the users of our online services. Additionally, we may utilize this information for our internal business purposes, in compliance with applicable laws and regulations.

Your Device Information

In order to provide you with access to our products and services through mobile applications or websites, we may collect certain information related to your devices. When you use these applications and websites, we may gather details such as unique device identifiers, screen resolution, operating systems, device settings, the physical location (including geo-location) of your device, information from your device's contact list, images and other information from your device's camera and photo library, and analytical insights regarding your interactions with our applications and websites. Furthermore, we may utilize your device's location to offer you customized location-based content and services. While we may request your permission to collect some of this information, please note that if you choose not to enable these settings, we may be unable to provide you with the related personalized content.

How We Collect Personal Information Online

Our Sites may utilize cookies or similar technologies to gather information. Cookies are electronic files that your internet browser stores on your hard drive or device, retaining information related to your visits and usage of our Sites. The purpose of these cookies is to enhance the functionality and performance of our Sites. Additionally, we may associate or combine your aggregate information with your personal information using cookies or similar technology.

Cookies enable easier navigation within our Sites during a session, while “persistent” cookies allow you to set and maintain preferences for using our Sites beyond a single session. These persistent cookies remain on your device even after closing the internet browser or mobile application. We may also utilize technologies, including our own cookies, to provide you with customized online display advertising that aligns with your interests.

In addition to cookies, we employ “action tags” that are associated with tracking technology. These action tags help us understand the number of visitors who access our Sites from third-party websites, identify frequently visited areas within our Sites, and gauge the amount of time spent on our Sites. We provide this aggregated information to a non-affiliated application service provider responsible for compiling statistical data. By collecting this data, we enhance our ability to cater to the needs of our online and mobile users, and make necessary improvements to enhance the online and mobile experience.

You have the option to block cookies by adjusting the settings in your internet browser or utilizing software programs specifically designed for that purpose. However, please note that blocking cookies may prevent you from logging into our secure Online Banking services and limit other functionalities provided on our Sites. Additionally, you can delete cookies by removing them from your Temporary Internet or Cookies folder. It's important to be aware that blocking or deleting cookies may impact our ability to honor certain online advertising opt-out preferences you have previously selected.

Online Behavioral Advertising

As explained in this notice, personal information collected from and about you online is utilized and shared to deliver advertising and marketing, including prescreened credit offers, that may be of interest to you. This type of advertising is referred to as “Online Behavioral Advertising”.

We present tailored ads in the following ways:

  • On our Sites and Mobile Apps, (including ads displayed when you sign on or off from your online accounts) and offline channels such as banking centers, and direct marketing like email, mail, and phone. We may use personal information related to your activities on our Sites and Mobile Apps, such as visited pages and entered keywords, to determine which ads or offers are relevant to you. We may also consider personal information about your relationship with us, such as account types, transaction details, or your banking location, to select suitable advertisements or offers.
  • On third-party sites and mobile apps that are not affiliated with Merchants Bank. We collaborate with advertising companies to promote our products and services on sites and mobile apps that are not affiliated with us. We may utilize personal information we have collected or that you have provided to assist these non-affiliated third-party sites and mobile apps in selecting bank ads or offers that align with your interests. Please note that these non-affiliated third-party sites and mobile apps are not governed by Merchants Bank’s Privacy Notice.

Opting out of Online Behavioral Advertising:

You have the option to control how Merchants Bank advertises to you based on your online behavior. In certain Merchants Bank online advertisements, you can opt out by clicking on the “YourAdChoices” Icon. Please keep in mind the following:

  • The opt-out process utilizes cookies. If you delete cookies from your device, you will need to opt out again.
  • If you use different browsers or devices, you will need to opt out individually for each one.

It's important to note that even if you opt out, you may still encounter advertisements from Merchants Bank while browsing online. However, these advertisements may be less relevant to you and your interests since they won't be based on information collected about you.

How We Use and Share Personal Information

We utilize and share personal information collected from and about you online for various purposes, including but not limited to:

  • Delivering products and services to you, such as verifying your identity, processing applications, transactions, and providing customer service/support.
  • Personalizing your digital and mobile experience by improving the organization and design of our Sites and Mobile Apps and analyzing data to offer relevant alerts, products, or services.
  • Providing advertising on our Sites and Mobile Apps, as well as non-affiliated third-party sites and through offline channels like banking centers and direct marketing methods.
  • Detecting and preventing fraud, identity theft, and other risks to you and Merchants Bank.
  • Performing analytics on your use of our online services, including analyzing your responses to our emails and the pages/advertisements you view.
  • Complying with legal requirements, industry standards, contractual obligations, and our policies.
  • Enabling you to use features within our Sites and Mobile Apps when you grant us access to personal information from your device, such as contact lists or geo-location for specific services like locating an ATM.
  • Providing notifications and analysis for registered events, improving event experiences, measuring effectiveness, enhancing products/services, and expanding our business activities.
  • Retaining personal information for the required period under applicable laws and regulations, securely deleting it as soon as legally permitted.

We may share of your personal information to:

  • Third-party providers with whom Merchants Bank has contracts for everyday business purposes—such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus.
  • Government agencies as mandated by laws and regulations.

Safeguarding Personal Information

We take appropriate measures to safeguard the personal information you provide to us through our Sites. However, it's important to note that no method of transmitting or storing data can be guaranteed to be 100% secure. While we strive to protect your personal information, we cannot guarantee the security of any information transmitted to us through or in connection with our Sites. If you suspect that your interaction with us is no longer secure, please notify us immediately by contacting us at (888) 294-1005.

In the unlikely event that we believe the security of your personal information in our possession or control may have been compromised, we will make every effort to promptly notify you. If notification is necessary, we will do so as quickly as possible given the circumstances. If we have your email address, we may notify you by email.

Please be aware that we will never request personal information from you via email (such as username, password, Social Security number, or account number). We will also never include links that direct you to a non-secure page where you are asked to provide such information. To verify the legitimacy of an email you have received from Merchants Bank, you can contact us toll-free at (888) 294-1005, available Monday – Friday from 8:00 a.m. to 4:30 p.m. ET.

If you receive an email or any other correspondence requesting sensitive information through email or from a Site that does not appear to be affiliated with us, or if it seems suspicious to you, please refrain from providing such information and report the request to us immediately at (888) 294-1005.

Third-Party Data Sharing

Some third-party companies offer aggregation services that provide the convenience of consolidating your account information from various sources, including your accounts with us or other financial institutions. This allows you to access your data in one place or perform account-related actions through their services. To enable this, a third-party may request your authorization to access your Merchants Bank accounts. This can be done by providing your Merchants Bank user ID and password or by giving your consent directly to Merchants Bank.

Here are important considerations regarding third-party data sharing:

  • The third-party, upon receiving your authorization, may access information about you, your relationship with Merchants Bank, and your accounts at Merchants Bank.
  • It is crucial to exercise caution and ensure that the third-party implements appropriate policies and practices to safeguard the privacy and security of any personal information you provide or that they access.
  • Your agreement with the third-party governs the use of your information, and it is separate from Merchants Bank. We recommend reviewing the policies of these third parties before sharing your personal information to understand how they will handle and store your account information. Take note of whether they sell personal information or transfer, process, or store data outside the United States.
  • Merchants Bank is not accountable for the use or disclosure of any personal information accessed by companies or individuals to whom you provide your site user ID and password.
  • If you share your Merchants Bank user ID, password, or account information with others, any transactions or actions initiated using that information will be considered authorized by you.
  • Should you decide to revoke the authorization granted to a third-party, we highly recommend changing your Merchants Bank password to prevent ongoing access to your account.

Receiving Promotional Emails

If you prefer not to receive promotional emails or electronic news from Merchants Bank, you can opt out by following the instructions provided in the specific email. However, please note that even if you choose to stop receiving promotional emails, we may still contact you via email to provide important information about our Sites or us, or in response to a transactional or service-related matter.

Maintaining Accuracy of Information

We strive to ensure that the online and mobile information we have about you and your accounts is accurate and complete. If you believe that our records contain any inaccurate or incomplete information, please call our customer service line at (888) 294-1005, available Monday – Friday from 8:00 a.m. to 4:30 p.m. ET. For our Online and Mobile Banking customers, you can access and edit your own information by logging into our secure Online Banking system at If any confirmed inaccuracies are identified, we will promptly correct them as necessary.

Children's Information

We respect and comply with the guidelines established by the Children's Online Privacy Protection Act. Our Sites and Mobile Apps are not marketed to individuals under the age of 13. Merchants Bank does not knowingly collect or retain personally identifiable information from children under the age of 13.

Web Linking Practices

We may include links to websites that are not affiliated with us or under our control. These links may lead to non-affiliated third-party sites, such as credit bureaus or service providers. We want to emphasize that when you click on these links and navigate to sites external to Merchants Bank, it is important to review their privacy and security policies, as well as their terms and conditions. These policies and terms may differ from those of our own Sites and Mobile Apps.

Merchants Bank cannot guarantee the privacy or security of these third-party sites. We are not responsible for their practices, including the accuracy, completeness, or reliability of the information they provide. We encourage you to exercise caution and diligence when visiting and interacting with any non-affiliated third-party sites linked from our Sites and Mobile Apps.

Social Media

Merchants Bank actively engages with customers on social media platforms such as Facebook, Instagram, Twitter, YouTube, and LinkedIn.

  • Any content you post on our official social media pages, including pictures, information, opinions, or personal information shared with other participants, is subject to the Terms of Use and Privacy Policies of those respective platforms.
  • When interacting with our official social media pages, Merchants Bank’s privacy notices and Social Media Guidelines may apply.
  • We encourage you to review the privacy policy specific to the social media service you are using to better understand your rights and obligations regarding the content you share.

Additionally, our sites may include social share buttons that allow users to easily share information on social media platforms. The non-affiliated third parties who own these widgets may have access to information about your browsing activities on pages of our Sites and Mobile Apps where these widgets are placed.

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