When you open or use a Revolut account, Revolut and its agents collect information about you and your finances, including running credit checks. How this data is used is set out in a separate Privacy Notice, which is incorporated by reference but not reproduced in these terms.
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
Credit checks and identity verification create data footprints with credit reference agencies that could affect your credit file and ability to access financial products elsewhere. The full scope of data sharing is governed by a separate document, meaning consumers must review two documents to understand their data rights.
Interpretive note: The full scope of data sharing is governed by a separate Privacy Notice not reproduced in these terms, creating uncertainty about the complete range of third-party data recipients and legal bases for processing.
Revolut shares personal and financial data with third parties including credit reference agencies and fraud prevention organisations as part of account opening and ongoing compliance, which can affect your credit profile and financial data records held by those agencies.
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"When you ask us to open an Account, we or someone acting for us will ask for information about you and where the money you will put in your Account comes from. We do this for a number of reasons, including to check your credit score and identity, and to meet our legal and regulatory requirements. Our Customer Privacy Notice (accessible here) explains more about how we use your information for these and other purposes.— Excerpt from Revolut's Revolut Terms of Service
REGULATORY LANDSCAPE: This provision engages UK GDPR as implemented by the Data Protection Act 2018, the FCA's rules on customer due diligence under the Money Laundering Regulations 2017, and the Credit Reference Agency information notices framework. The ICO is the enforcement authority for data protection matters. The provision's reliance on a separate Privacy Notice means the legal bases for processing (legitimate interests, legal obligation, or consent) are not visible within the terms document itself, which may create transparency issues under UK GDPR Article 13. GOVERNANCE EXPOSURE: Medium. The practice of running credit checks and sharing data with fraud prevention organisations is standard in UK financial services and is required under AML regulations. However, the adequacy of disclosure depends on the Privacy Notice, and compliance teams should ensure that notice meets UK GDPR Article 13 requirements, including specifying data recipients, retention periods, and data subject rights. JURISDICTION FLAGS: UK GDPR applies to all Revolut Ltd customers. Customers in the EEA would be subject to GDPR under their relevant Revolut entity. California residents using a US Revolut entity may have additional rights under CCPA. The cross-border data transfer implications of centralised credit reference agency access should be assessed if Revolut processes data across jurisdictions. CONTRACT AND VENDOR IMPLICATIONS: Procurement teams assessing Revolut as a partner or supplier should request confirmation of the data processing agreements in place with credit reference agencies and fraud prevention organisations, and verify that data sharing arrangements are covered by appropriate UK GDPR Article 26 or 28 agreements. COMPLIANCE CONSIDERATIONS: The Privacy Notice should be audited to confirm it satisfies UK GDPR transparency requirements and accurately reflects all third-party data sharing categories. Data mapping should include the credit reference agency and fraud prevention organisation data flows. Consent mechanisms (where relied upon) and legitimate interests assessments (where applicable) should be reviewed for adequacy.
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Credit checks and identity verification create data footprints with credit reference agencies that could affect your credit file and ability to access financial products elsewhere. The full scope of data sharing is governed by a separate document, meaning consumers must review two documents to understand their data rights.
Revolut shares personal and financial data with third parties including credit reference agencies and fraud prevention organisations as part of account opening and ongoing compliance, which can affect your credit profile and financial data records held by those agencies.
No. ConductAtlas is an independent monitoring service. We are not affiliated with, endorsed by, or sponsored by Revolut.