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
At Ledger, earning and maintaining our users' trust is a top priority. That's why we are deeply committed not only to protecting your privacy and securing your personal data, but also to being fully transparent about how we handle it.
If we collect health information from these integrations (such as heart rate), we will not sell or use it for advertising or other similar purposes; we do not disclose it to third parties without your prior consent; and we will only use it for the specific purposes described in this Policy.
We collect your personal data when you use our Services, create a new eBay account, provide us with information via a web form, add or update information in your eBay account, participate in online community discussions or otherwise interact with us.
Monitoring
Revolut has changed this document before.
Receive same-day alerts, structured change summaries, and monitoring for up to 25 platforms.
"give us access to your other financial accounts (for example, through Open Banking)— Excerpt from Revolut's Revolut Privacy Policy
(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. Access to third-party account data requires explicit consumer consent and is subject to strict purpose limitation. UK GDPR applies to the personal data collected through Open Banking, requiring a documented lawful basis, typically consent or legitimate interests, for each use of that data beyond the immediate service delivery purpose. (2) GOVERNANCE EXPOSURE: Medium. The breadth of data accessible through Open Banking, including detailed transaction histories from other institutions, creates a significant data minimization and purpose limitation obligation. Using Open Banking data for purposes beyond the specific service the user connected their account for, such as profiling for unrelated product eligibility, may require separate consent or a clearly documented legitimate interests assessment. (3) JURISDICTION FLAGS: UK PSD2 implementation governs the access mechanism. If Revolut operates Open Banking-equivalent services in EEA jurisdictions through its EU entities, EU PSD2 and GDPR apply in parallel. Any transfer of Open Banking data to third countries triggers UK GDPR international transfer obligations. (4) CONTRACT AND VENDOR IMPLICATIONS: Where third-party Account Information Service Providers (AISPs) or Payment Initiation Service Providers (PISPs) are used to facilitate Open Banking access, data processing agreements must clearly delineate the scope of data access, permitted uses, and retention periods. (5) COMPLIANCE CONSIDERATIONS: Legal teams should confirm that the scope of data collected via Open Banking is clearly disclosed to users at the point of connection and that data minimization principles are applied, collecting only what is necessary for the stated purpose. Data retention schedules for Open Banking data should be reviewed against UK GDPR requirements.
Full compliance analysis
Regulatory citations, enforcement risk, and due diligence action items.
Free: track 1 platform + weekly digest. Monitor: 25 platforms + same-day alerts. No credit card required.
Ad personalization controls removed. Contact scanning added. Advertiser data partnerships quietly dropped. A timeline of every change.
Compliance Governance Intelligence
Need to monitor specific governance provisions?
Compliance includes provision-level monitoring, governance timelines, regulatory mapping, and audit-ready analysis.
Built from archived source documents, structured governance mappings, and historical version tracking.
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.
No. ConductAtlas is an independent monitoring service. We are not affiliated with, endorsed by, or sponsored by Revolut.