If you choose to use Open Banking features, Revolut can access data from your accounts at other banks and financial institutions.
This analysis describes what Revolut's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
Open Banking access gives Revolut visibility into your full financial picture across multiple institutions, which is more extensive than data collected solely from your Revolut account activity.
Interpretive note: The document does not fully detail which specific downstream uses are made of Open Banking data beyond service delivery, creating uncertainty about the full scope of its use in profiling or eligibility assessments.
This provision means that if you connect your other bank accounts through Open Banking, Revolut can collect and use your transaction history, balance information, and account details from those external accounts, which may be used in profiling, credit assessment, or product eligibility decisions.
How other platforms handle this
You and your organization's administrator can access several types of Service Data directly from Google Cloud, including your account information, billing contact information, payment and transaction information, as well as product and communication settings and configurations.
We will also provide an individual opt-out choice, or opt-in for sensitive data, before we share your data with third parties other than our agents, or before we use it for a purpose other than which it was originally collected.
to request that your data be transferred to a third party (data portability)
"give us access to your other financial accounts (for example, through Open Banking)Excerpt from Revolut's Privacy Policy (Superseded URL)
(1) REGULATORY LANDSCAPE: Open Banking data collection in the UK is regulated under the Payment Services Regulations 2017 (implementing PSD2) and overseen by the FCA and the Open Banking Implementation Entity.
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Open Banking access gives Revolut visibility into your full financial picture across multiple institutions, which is more extensive than data collected solely from your Revolut account activity.
This provision means that if you connect your other bank accounts through Open Banking, Revolut can collect and use your transaction history, balance information, and account details from those external accounts, which may be used in profiling, credit assessment, or product eligibility decisions.
ConductAtlas has identified this type of provision across 290 platforms. See the full comparison.
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